Americold Realty Trust, Inc. (NYSE:COLD) Q2 2023 Results Conference Call August 3, 2023 5:00 PM ET
Company Participants
Scott Henderson - Chief Investment Officer
George Chappelle - Chief Executive Officer
Rob Chambers - Chief Commercial Officer
Marc Smernoff - Chief Financial Officer
Conference Call Participants
Samir Khanal - Evercore ISI
Michael Carroll - RBC Capital Markets
Craig Mailman - Citi
Nick Thillman - Baird
Mike Mueller - JPMorgan
Vince Tibone - Green Street Advisors
Ki Bin Kim - Truist Securities
Anthony Powell - Barclays
Operator
Ladies and gentlemen, greetings. And welcome to the Americold Realty Trust Second Quarter 2023 Earnings Conference Call [Operator Instructions]. As a reminder, this conference is being recorded.
It is now my pleasure to introduce your host, Scott Henderson, Chief Investment Officer. Please go ahead, sir.
Scott Henderson
Good afternoon. Thank you for joining us today for Americold Realty Trust second quarter 2023 earnings conference call. In addition to the press release distributed this afternoon, we have filed a supplemental package with additional detail on our results, which is available in the Investor Relations section on our Web site at www.americold.com. This afternoon's conference call is hosted by Americold's Chief Executive Officer, George Chappelle; Chief Commercial Officer, Rob Chambers; and Chief Financial Officer, Marc Smernoff. Management will make some prepared comments, after which we will open up the call to your questions. On today's call, management's prepared remarks may contain forward-looking statements. Forward-looking statements address matters that are subject to risks and uncertainties that may cause actual results to differ from those discussed today. A number of factors could cause actual results to differ materially from those anticipated. Forward-looking statements are based on current expectations, assumptions and beliefs, as well as information available to us at this time and speak only as of the date they are made, and management undertakes no obligation to update publicly any of them in light of new information or future events. During this call, we will discuss certain non-GAAP financial measures, including core EBITDA and AFFO. Full definitions of these non-GAAP financial measures and reconciliations to the comparable GAAP financial measures are contained in the supplemental information package available on the company's Web site.
Now I will turn the call over to George.
George Chappelle
Thank you, Scott. And thank you all for joining our second quarter 2023 earnings conference call. This afternoon, I will discuss some key operational metrics and financial results for the second quarter and then comment on our outlook for the remainder of the year. Rob will provide an update on our recent customer initiatives and an update on our growth activity. Marc will also provide some additional commentary on our second quarter results and a detailed walkthrough of our guidance for the remainder of the year. Before I begin, let me quickly comment on last quarter's cybersecurity event. I am pleased to report that this event is behind us from an operational standpoint. We are confident that the impact of the cybersecurity event on our AFFO per share is largely contained to the second quarter and that our guidance going forward takes any additional impacts into account. Marc will provide a detailed bridge on how it impacted us during the second quarter and how we are taking this into account in our guidance for the remainder of the year. As a note, we have characterized direct cybersecurity costs below AFFO to provide a clean view of our operating performance.