Lineage says cold storage market working through oversupply
Key takeaways
- Lineage says cold storage market working through oversupply Shares of LINE were up 3.3% at 11:52 a.m.
- Lineage (NASDAQ: LINE) reported a net loss of $51 million for the first quarter on Wednesday before the market opened.
- Consolidated net revenue of $1.3 billion was up less than 1% y/y and just shy of the consensus estimate of $1.32 billion.
Lineage says cold storage market working through oversupply Shares of LINE were up 3.3% at 11:52 a.m. EDT on Wednesday. (Photo: Jim Allen/Freight Waves) Todd Maiden Wed, May 6, 2026 at 11:14 PM GMT+7 3 min read LINE Lineage executives said Wednesday that the temperature-controlled warehouse market is stabilizing after experiencing an oversupply prompted by the pandemic. The Novi, Michigan-based company said its customers’ food inventories have returned to more normal, albeit leaner, levels.
Lineage (NASDAQ: LINE) reported a net loss of $51 million for the first quarter on Wednesday before the market opened. Adjusted funds from operations (AFFO), which exclude depreciation, acquisition and restructuring costs (among other items), of 78 cents per share, came in 8 cents lower year over year.
Consolidated net revenue of $1.3 billion was up less than 1% y/y and just shy of the consensus estimate of $1.32 billion. A 17% y/y decline in container volumes negatively impacted drayage revenue during the quarter.