Lineage Q3 Loss Narrows

Lineage

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(RTTNews) - Lineage, Inc. (LINE), a temperature-controlled warehouse REIT, on Wednesday, reported its net loss narrowed in the third quarter compared with the previous year.

For the third quarter, net loss attributable to the company narrowed to $100 million from $485 million in the prior year.

Loss per share was $0.44 versus $2.44 last year.

FFO loss narrowed to $11 million from $446 million in the previous year.

Adjusted FFO increased to $221 million from $208 million in the prior year.

Adjusted FFO per share was $0.85 versus $0.90 last year.

EBITDA came in at profit of $197 million compared with loss of $296 million in the prior year.

Adjusted EBITDA increased 2.4% to $341 million from $333 million in the previous year.

Income from operations came in at $35 million compared with loss of $515 million in the previous year.

Net revenue increased $1.38 billion from $1.34 billion in the prior year.

Further, the company said it declared a quarterly dividend of $0.5275 per share, representing an annualized rate of $2.11 per share.

On Tuesday, Lineage closed trading, 4.07% lesser at $37.73 on the Nasdaq.