americold earnings call transcript

How worried do you have to be about the underlying health of their clients, of the restaurants that are out there that are closed?Yes. Obviously, with the surge, we're definitely not as ideally efficient as we'd like to be, but we're really focused on making sure we can serve our customers and get that product out and through the supply chain, as Fred described in his prepared remarks. It's just really hard to predict exactly what that flow is going to look like. That's right.And we have reached the end of the question-and-answer session. But my prediction and being a supply chain guy, I would say that after we clear the deck and COVID is well behind us, I would expect things to kind of return back to normal.Okay. So that's one place in our supply chain where you can count on, because that space is dedicated to have fixed commitments. In general, when the economy is good, heavier weighting goes toward the food service side.And when the economy isn't doing well, it shifts to heavier retail. Thanks again for joining us today, and we will now open the call for your questions. Additionally, in the first quarter, we received AUD 64.5 million from the sale of our land in Sydney and associated carrying costs.

But we're really kind of agnostic to that.And I just want to just remind everyone, when you look at our customer base, roughly 76% is focused on food manufacturers that typically service both channels. The great news is a lot of them were pre-trained. So I can't necessarily speak to the health of their customers in some of these restaurant chains and such.

Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services.Greetings, and welcome to the Americold Realty Trust first-quarter 2020 earnings conference call. So we do get a little extra benefit associated with that retail bond.OK.

I guess that would mean that there was an offset somewhere else in sort of operations or elsewhere?

As we look ahead, we believe market conditions overall remain favorable for our business.First, in the near term, we expect that stay-at-home orders, state reopen plans and social distancing guidelines resulting from COVID-19 will continue to influence our business. A number of factors could cause actual results to differ materially from those anticipated.

When we go into a fourth quarter, we're building up for the season, we have to bring in temporary workers, that type of thing to be able to support the business. Those without fixed commitments have faced challenges in obtaining space and in many cases were unable to secure optimal support.Now turning to our results. So that's one place in our supply chain where you can count on because that space is dedicated to have fixed commitments. Right? Clearly, our customers, even though many restaurants are open for some sort of takeaway, they may not have done the regular sitdown business that they've historically done. And generally speaking, like what segment is more profitable?Well, I think, two things. And then maybe a broader question around that is, how would that impact your services business if you were to see those shortfalls coming through the channel?Yes. So we do get a little extra benefit associated with the retail distribution centers from a standpoint of throughput, albeit lower margin volumes like retail, moves a lot of cases.Right?

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