NYSE$ALEX
Alexander & Baldwin Inc · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Alexander & Baldwin reported strong first quarter results, driven by CRE Same-Store NOI growth and Land Operations performance, leading to raised full-year guidance.
Alexander & Baldwin reported a net income of $20.0 million, or $0.28 per diluted share, for Q1 2024. The company saw CRE Same-Store NOI growth of 4.1% and strong performance in its Land Operations segment, which contributed significantly to the company raising its full year 2024 guidance.
- Net income available to A&B common shareholders was $20.0 million, or $0.28 per diluted share.
- Commercial Real Estate (CRE) operating profit was $22.0 million.
- Funds From Operations (FFO) was $29.2 million, or $0.40 per diluted share; Adjusted FFO was $25.5 million, or $0.35 per diluted share.
- CRE Same-Store Net Operating Income (NOI) grew by 4.1%.
Headline financials
Revenue & EPS history
Alexander & Baldwin · Revenue · Quarterly
$61.2M
Revenue by segment
Alexander & Baldwin · $52.5M total across 2 segments · Q3 2023
- Commercial Real Estate$48.2M+4.3%91.8%
- Land Operations$4.3M+48.3%8.2%
Forward guidance
The Company revised its 2024 Full-Year guidance as follows: CRE Same-Store NOI growth % 1.1% to 2.1%, CRE Same-Store NOI growth %,excluding collections of prior year reserves 2.1% to 3.1%, FFO per diluted share $1.05 to $1.16, Adjusted FFO per diluted share $0.89 to $1.00
Tailwinds
- CRE Same-Store NOI growth % 1.1% to 2.1%
- CRE Same-Store NOI growth %,excluding collections of prior year reserves 2.1% to 3.1%
- FFO per diluted share $1.05 to $1.16
- Adjusted FFO per diluted share $0.89 to $1.00
- FFO per share related to Land Operations $0.05 to $0.11
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 8 quarterly earnings reports · overlaid with Q1 2024
-0.0%
Avg return
Earnings day
+1.1%
Avg return
5 days after
+1.3%
Avg return
30 days after
47%
28 / 60 earnings
Positive
+8.9%
Q4 2013
Best reaction
-14.4%
Q1 2020
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2025 | — | — | — | |
| Q3 2025 | -6.3% | -5.3% | -6.1% | |
| Q2 2025 | +2.1% | +0.5% | +5.5% | |
| Q1 2025 | -2.4% | +2.9% | +3.1% | |
| Q4 2024 | +0.6% | -2.5% | -4.2% | |
| Q3 2024 | +2.6% | +3.7% | +5.8% | |
| Q2 2024 | +6.8% | +8.4% | +6.3% | |
| Q1 2024 | +1.2% | +2.9% | +2.9% | |
| Q4 2023 | -4.2% | -1.9% | -2.9% | |
| Q3 2023 | +4.7% | — | — | |
| Q2 2023 | -1.0% | — | — | |
| Q1 2023 | -1.0% | — | — | |
| Q4 2022 | -0.3% | — | — | |
| Q3 2022 | +5.9% | — | — | |
| Q2 2022 | +4.2% | — | — | |
| Q1 2022 | -2.5% | — | — | |
| Q4 2021 | +1.7% | — | — | |
| Q3 2021 | +1.4% | — | — | |
| Q2 2021 | +5.1% | — | — | |
| Q1 2021 | +1.9% | — | — | |
| Q4 2020 | -5.5% | — | — | |
| Q3 2020 | +6.6% | — | — | |
| Q2 2020 | -0.6% | — | — | |
| Q1 2020 | -14.4% | — | — | |
| Q4 2019 | -8.7% | — | — | |
| Q3 2019 | -3.8% | — | — | |
| Q2 2019 | -0.3% | — | — | |
| Q1 2019 | +2.6% | — | — | |
| Q4 2018 | -7.4% | — | — | |
| Q3 2018 | +8.2% | — | — | |
| Q2 2018 | +1.6% | — | — | |
| Q1 2018 | -2.3% | — | — | |
| Q4 2017 | +4.0% | — | — | |
| Q3 2017 | -5.0% | — | — | |
| Q2 2017 | +0.3% | — | — | |
| Q1 2017 | -7.4% | — | — | |
| Q4 2016 | -3.2% | — | — | |
| Q3 2016 | +8.0% | — | — | |
| Q2 2016 | +3.2% | — | — | |
| Q1 2016 | -3.2% | — | — | |
| Q4 2015 | +0.6% | — | — | |
| Q3 2015 | -0.3% | — | — | |
| Q2 2015 | -4.2% | — | — | |
| Q1 2015 | +6.4% | — | — | |
| Q4 2014 | -0.7% | — | — | |
| Q3 2014 | +4.2% | — | — | |
| Q2 2014 | -1.1% | — | — | |
| Q1 2014 | +0.4% | — | — | |
| Q4 2013 | +8.9% | — | — | |
| Q3 2013 | -0.3% | — | — | |
| Q2 2013 | -3.4% | — | — | |
| Q1 2012 | -2.5% | — | — | |
| Q1 2013 | +1.2% | — | — | |
| Q1 2011 | -0.4% | — | — | |
| Q4 2010 | -0.4% | — | — | |
| Q4 2012 | +0.6% | — | — | |
| Q3 2011 | -1.7% | — | — | |
| Q3 2012 | -0.3% | — | — | |
| Q2 2011 | -1.2% | — | — | |
| Q4 2011 | -1.2% | — | — | |
| Q2 2012 | +1.4% | — | — |
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