Earnings Releases·Nov 9, 2026, 4:17 PM ET

Lineage, Inc. — Third Quarter 2026 Earnings Summary

Total revenue decreased 1.2% year-over-year to $1,361 million for the quarter, while GAAP net loss widened to $(173) million; adjusted EBITDA fell 7.0% year-over-year to $317 million with margins contracting 150 basis points to 23.3%.
Full-year 2026 adjusted EBITDA guidance remains $1.25 to $1.27 billion and Adjusted FFO per share guidance is $2.86 to $2.98, though management anticipates cyclical pressures including higher oil prices and tariff uncertainty to persist into the fourth quarter.
Global Warehousing segment NOI declined 6.0% year-over-year to $361 million, driven by a 6.0% drop in same warehouse NOI to $342 million, despite average economic occupancy rising 60 basis points to 80.9%.
Long-term debt increased to $6,813 million as of September 30, 2026, while the company declared a quarterly dividend of $0.5325 per share and reported net cash used in investing activities of $449 million for the nine-month period.