Latest news with #LineageInc
Associated Press
5 days ago
- Business
- Associated Press
LINE Investors Have Opportunity to Lead Lineage, Inc. Securities Fraud Lawsuit with the Schall Law Firm
LOS ANGELES--(BUSINESS WIRE)--Aug 3, 2025-- The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Lineage, Inc. ('Lineage' or 'the Company') (NASDAQ: LINE ) for violations of the federal securities laws. Investors who purchased the Company's securities pursuant and/or traceable to the Company's Offering Documents issued in connection with its initial public offering ('IPO') conducted in July 2024, are encouraged to contact the firm before September 30, 2025. If you are a shareholder who suffered a loss, click here to participate. We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at or by email at [email protected]. The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member. According to the Complaint, the Company made false and misleading statements to the market. Lineage suffered a weakening of demand as customers destocked excessive inventory and adjusted their businesses to changing consumer trends. The Company raised prices leading up to the IPO in an unsustainable manner. The Company failed to counteract its demand problems through marketing or its supposed competitive advantages. Based on these facts, the Company's public statements were false and materially misleading throughout the class period. When the market learned the truth about Lineage, investors suffered damages. Join the case to recover your losses. The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics. View source version on CONTACT: The Schall Law Firm Brian Schall, Esq. Office: 310-301-3335 [email protected] KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA INDUSTRY KEYWORD: CLASS ACTION LAWSUIT PROFESSIONAL SERVICES LEGAL SOURCE: The Schall Law Firm Copyright Business Wire 2025. PUB: 08/03/2025 03:24 PM/DISC: 08/03/2025 03:24 PM
Yahoo
07-07-2025
- Business
- Yahoo
Cold storage provider Lineage announces expansion in Canada
Temperature-controlled warehouse operator Lineage Inc. announced that recent acquisitions and expansion projects in Canada will expand its network by 13 million cubic feet and more than 68,000 pallet positions. The company said Monday that it has acquired three cold storage facilities in Quebec, Canada. The new warehouses are located near Montreal and increase its Canadian footprint to more than 30 locations. Novi, Michigan-based Lineage (NASDAQ: LINE) also announced expansion projects at three existing locations in Canada, including the addition of 1,500 blast-freezing pallet positions at a Calgary location. The upgrades are expected to be completed by the middle of next year. 'Canada plays a vital role for food logistics in North America and globally,' said Matt Cramer, President of North America East at Lineage, in a news release. 'Our facilities are strategically situated near vital infrastructure that keeps goods moving – whether that's down the road, across the border or beyond.' Lineage manages more than 485 facilities with 3.1 billion cubic feet of space across North America, Europe and the Asia-Pacific region. It also provides freight forwarding, customs brokerage, drayage and truck transportation. The company closed on the acquisition of Bellingham Cold Storage and its three warehouses in April. More FreightWaves articles by Todd Maiden: Cass Freight Index: Shipments down, rates up in May Forward Air chairman, 2 directors leave after shareholder vote Intermodal carriers getting 'a bit more optimistic' The post Cold storage provider Lineage announces expansion in Canada appeared first on FreightWaves. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
26-02-2025
- Business
- Yahoo
Lineage's earnings grow through post-pandemic ‘major inventory rebalancing'
Temperature-controlled warehouse operator Lineage Inc. said on a Wednesday quarterly call that its customers remain growth-oriented but acknowledged that food inventories have stabilized at lower levels. Total throughput at its facilities hasn't changed all that much since the pandemic, but customers are holding less inventory than they did prior to COVID. Food producers ramped production in 2022 in efforts to rebuild stock levels, but they overshot the mark and were left holding more merchandise than needed. The cold storage industry unwound inventories in 2023 and through the first half of 2024. Normal seasonal trends have returned since, Lineage President and CEO Greg Lehmkuhl said on the call. Lineage (NASDAQ: LINE) reported a headline net loss of $80 million for the 2024 fourth quarter Wednesday before the market opened. Adjusted funds from operations (AFFO), which excludes depreciation, acquisition and restructuring costs, was 83 cents per share, a 73% year-over-year increase and 19 cents ahead of the consensus estimate. The adjusted result included a 5-cent-per-share tax benefit. The Novi, Michigan-based real estate investment trust reported a 0.4% y/y increase in consolidated net revenue to $1.34 billion during the fourth quarter. The result included the benefit of recent a same-warehouse comparison, pallets processed through its facilities dipped 0.7% y/y, with storage revenue per pallet off 0.9%. Physical occupancy was 80.3% in the quarter, which was 160 basis points lower than in the year-ago period. However, the changes largely reflect a return to normal seasonality, Lehmkuhl said. The company is calling for full-year 2025 AFFO of $3.40 to $3.60 per share, a 6% y/y increase at the midpoint of the range. Adjusted earnings before interest, taxes, depreciation and amortization guidance of $1.35 billion to $1.4 billion represents a 3.5% increase at the midpoint of the range. The new guidance assumes normal seasonal patterns, no market turnaround and no impact from future implied growth rates are very close to the actual growth rates seen for full-year 2024 (AFFO per share up 6.5% and adjusted EBITDA up 4%). 'I think what's been misunderstood is that we're growing this company 4% total EBITDA, 6% AFFO per share in a major inventory rebalancing. In the stiffest headwind the industry's seen in many years, we're still growing, and we're built to grow,' said Lehmkuhl. He noted most of Lineage's customers are planning for higher sales in 2025. 'I think the upside here, that's not in our guidance, is that what we're hearing from customers is they're acutely focused on increasing sales. They're doing promotional activity … discounting … in order to get volume moving.' The company has more than $1.5 billion in capital that could be deployed to fund acquisitions and new developments in 2025 without issuing equity. That isn't the plan for the year. It normally invests roughly half that level each year. Lineage raised $5.1 billion in gross proceeds from its July IPO, using $4.9 billion to pay down debt. Shares of LINE have fallen to $56.78 after nearly touching $90 shortly after the IPO. The stock was up 1.7% at 10:54 a.m. EST on Wednesday compared to the S&P 500, which was up 0.8%. Lineage manages 488 facilities with 3.1 billion cubic feet of space across North America, Europe and the Asia-Pacific region. It also provides freight forwarding, customs brokerage, drayage and truck transportation. More FreightWaves articles by Todd Maiden:Trucking execs see green shoots as industry awaits upturn LTL panel tells shippers to start using new freight classification codes now ABF Freight latest LTL carrier to nab Yellow terminals The post Lineage's earnings grow through post-pandemic 'major inventory rebalancing' appeared first on FreightWaves. Sign in to access your portfolio
Bloomberg
25-02-2025
- Business
- Bloomberg
Lineage Investors Seek Signs of Growth From Earnings After Rout
Lineage Inc. investors seeking returns from last year's biggest initial public offering are anxiously awaiting its earnings report Wednesday. Shares of the cold-storage real estate investment trust have tumbled 30% since it went public last July as Wall Street continues to wait for management to make good on its promises. By contrast, Lineage has underperformed its industrial REIT peers, with the S&P Composite 1500 Equity REITs index gaining 3.5% in that same period.
