| Metric | Value ($ M) | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue | 1.4K | 4.9% | 0.8% |
| Total Income | 1.4K | 4.9% | 0.8% |
| Expenditure | 1.3K | 3.6% | 1.5% |
| PBT | — | ||
| Net Profit | -29.00 | 37.0% | 383.3% |
| OPM | 3.97% | 1.19pp | 2.26pp |
| NPM | -2.13% | 1.42pp | 1.69pp |
| EPS | -0.13 | 27.8% | 333.3% |
Lineage Reports Q2 2026 Financial Results
05 Aug 2026 · 5 Aug, 4:37 pm
Summary
Lineage, Inc. reported second-quarter 2026 revenue of $1,361 million, a modest increase of 0.8% year-over-year. The company experienced a GAAP net loss of $(32) million and a decrease in Adjusted EBITDA to $320 million, with the margin contracting by 60 basis points to 23.5%. AFFO per share also declined by 6.2% to $0.76. Management noted a positive signal from a 90 basis point year-over-year increase in same warehouse physical occupancy, suggesting inventory normalization and industry stabilization. The company updated its full-year 2026 guidance, expecting adjusted EBITDA between $1.26 to $1.29 billion and AFFO per share between $2.80 to $3.05.
Key Highlights
- 1
Total revenue for the second quarter of 2026 increased by 0.8% to $1,361 million.
- 2
The company reported a GAAP net loss of $(32) million, or $(0.13) per diluted common share for Q2 2026.
- 3
Adjusted EBITDA decreased by 1.8% to $320 million, with the adjusted EBITDA margin declining by 60 basis points to 23.5% in Q2 2026.
- 4
AFFO (Adjusted Funds From Operations) decreased by 6.2% to $198 million, and AFFO per share also decreased by 6.2% to $0.76 in the second quarter of 2026.
- 5
Lineage declared a quarterly dividend of $0.5325 per share, representing an annualized dividend rate of $2.13 per share.
- 6
Same warehouse physical occupancy saw a 90 basis point year-over-year increase in Q2 2026, indicating inventory normalization and industry stabilization.
- 7
Full-year 2026 guidance projects adjusted EBITDA between $1.26 to $1.29 billion and AFFO per share between $2.80 to $3.05.
Management Comments
Greg Lehmkuhl
We delivered a solid second quarter, with adjusted EBITDA and AFFO per share both ahead of expectations. Importantly, we achieved a 90bps year-over-year increase in same warehouse physical occupancy, a positive signal that inventory levels have further normalized and that the industry is stabilizing. We also want to acknowledge the fire at our Big Bear facility. Lineage acted quickly to support the surrounding community, and I want to thank the Los Angeles first responders and Lineage team members for their extraordinary response. We remain committed to a full recovery.
Informational and educational content only. Not investment advice.