You talk about your food service customers who are keeping their product with you, but their businesses may be closed or suffering from lower revenues. We will also highlight areas of our business that were impacted by COVID-19. Tying that all together, I mean you obviously had a really good first quarter. As a result, the best places for grocers to serve last-mile logistics, including both home delivery and click-and-pick is the store itself. Half our volumes that food manufacturers make goes through retail, half goes through food service. We have lots of inventory across the enterprise. As we've seen with the surge in e-commerce orders as a result of COVID-19, the increased demand has been filled by the grocery store, which has been supplied by the retail distribution center or by a restaurant, which has been supplied by a food distributor. We couldn't get containers. Be well.And we have reached the end of conference. And if you can kind of just paint a picture for us and how that played out until May 7?Yes. And then any comments on the poultry side of things? 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. I mean it was just as every single facility like I described in the press release is every facility was pressed immediately and unprecedentedly to respond to the next node in the supply chain. Let me begin by saying, I have never been prouder of the Americold family that I am today in the midst of the COVID-19 pandemic. I'd also like to point out that although we are classified as essential workers in the supply chain, the nature of our work is naturally socially distant, and very different than workers in the manufacturing line or a grocery store.

That's right.And we have reached the end of the question-and-answer session. Today, we'll provide updates on our actual performance as well as certain metrics on a constant currency basis. Hope you're doing well. I guess I'm curious to kind of think through where maybe your margins are going going forward? As of March 31, 2020, our global portfolio consisted of 182 facilities, five more than we have reported at the end of the fourth quarter of 2019, due to the acquisition of Newport Cold and Nova Cold Logistics in the quarter.Our total facility count includes 172 facilities in our global warehouse segment portfolio and 11 facilities in our third-party managed segment. We are committed to maintaining a strong flexible balance sheet as we finance our business and growth plans.As of March 31, 2020, our total debt outstanding was $2 billion, of which 77% was in an unsecured structure and 86% was at a fixed rate. You may begin.Good afternoon. We had no activity on our ATM program during the quarter.Our net debt to pro forma core EBITDA was approximately 4.2.
So you're right.There were a lot of reports in the press about food shortages right after the spike of emptying out the grocery stores. On the service side, I'm not sure, but you really touched on labor. Again, I applaud what the grocers are doing, and they're making sure that we don't have another toilet paper fiasco on our hands by doing the limits early on based on the news, but the supply is slowing. We view this as an opportunity as we bring these acquisitions onto Americold's commercialization standards. In a post COVID-19 world, we believe our customers and ultimately their customers will continue to focus on building and maintaining a resilient supply chain. Right? Cumulative Growth of a $10,000 Investment in Stock AdvisorAmericold Realty Trust (COLD) Q1 2020 Earnings Call Transcript @themotleyfool #stocks $COLD I'm thinking something like the airlines or the cruise ships or casinos where it's less of -- are you eating at home, are you meaning out a sort of maybe a third channel of consumption.Yes.

For the first-quarter 2020, a 40.1% of rent and storage revenue was generated from fixed commitment storage contracts on a combined pro forma basis, which is a 50-basis-point decrease over the sequential quarter. This afternoon, I will provide a brief overview of the temperature-controlled food supply chain and how it's been impacted by the COVID-19 pandemic. Is that a big driver? Appreciate all the color in the beginning on the supply chain and the detailed commentary. So at any given time, there's about four months of inventory.

Again, I just want to end with, we're very proud of what we've been able to accomplish, very proud of the 13,000 associates that we have around the world.They're really doing a great job out there in servicing all of us, quite frankly, as consumers. You talked about the throughput volume leveling off, but still higher than pre-COVID levels. Retailers who were operating in ordinary course were challenged with responding to the almost instantaneous and significant shift of consumption happening through the channel as grocery stores were emptied.Please keep in mind that the supply chain was designed for steady-state and holiday demand, not an unexpected event like this, akin to a sustained hurricane hitting the entire country at once.

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