NYSE$ALEX
Alexander & Baldwin Inc · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Alexander & Baldwin reported second quarter results, demonstrating organic growth and healthy leasing demand. Interest rate of debt was fully fixed, balance sheet was strengthened, and ample liquidity was provided to pursue investment opportunities. Non-core land disposition efforts continued and meaningful progress toward reducing G&A was made. 2024 guidance was raised.
Alexander & Baldwin reported a net income available to A&B common shareholders of $9.1 million, or $0.13 per diluted share, and Commercial Real Estate (CRE) operating profit of $22.6 million for the second quarter of 2024. The company also highlighted a FFO of $20.6 million, or $0.28 per diluted share and an Adjusted FFO of $16.9 million, or $0.23 per diluted share.
- Funds From Operations (FFO) of $20.6 million, or $0.28 per diluted share; Adjusted FFO of $16.9 million, or $0.23 per diluted share.
- CRE Same-Store Net Operating Income (NOI) growth of 0.9%; CRE Same-Store NOI growth of 1.7% excluding collections of prior year reserves.
- Leased occupancy as of June 30, 2024, was 93.9%.
- Comparable blended leasing spreads for the improved portfolio were 7.3%
Headline financials
Revenue & EPS history
Alexander & Baldwin · Revenue · Quarterly
$51M
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:
Tailwinds
- CRE Same-Store NOI growth %: 1.25% to 2.25%
- CRE Same-Store NOI growth %, excluding collections of prior year reserves: 2.10% to 3.10%
- FFO per diluted share: $1.17 to $1.26
- Adjusted FFO per diluted share: $0.99 to $1.08
- FFO per share related to Land Operations: $0.13 to $0.18
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 Q2 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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