NYSE$ALEX
Alexander & Baldwin Inc · Q3 2022 earnings
Q3 2022 earnings · · Investor relations
Briefing
Achieved a 2.8% increase in Same-Store NOI and a 4.0% increase in Core FFO per diluted share over the prior year quarter.
Alexander & Baldwin reported strong Q3 2022 results, with the commercial real estate business posting outstanding results. Total leased occupancy remained strong at 94.6% at quarter-end, supported by a strengthening Hawai‘i economy and robust tourism. The company is shifting its focus to growth, pursuing development and acquisition opportunities.
- Net income available to A&B common shareholders and diluted earnings per share were $6.3 million and $0.09 per share, respectively, consistent with the same quarter of 2021.
- Core FFO and Core FFO per-diluted share were $18.9 million and $0.26 per share, respectively, compared to $17.9 million and $0.25 per share in the same quarter of 2021.
- CRE revenue of $46.2 million was $2.2 million, or 5.0%, more than the $44.0 million result in the same quarter of 2021.
- Same-Store NOI of $28.9 million was $0.8 million, or 2.8%, more than the $28.1 million result in the same quarter of 2021.
Headline financials
Revenue & EPS history
Alexander & Baldwin · Revenue · Quarterly
$97.2M
Revenue by segment
Alexander & Baldwin · $49.1M total across 2 segments · Q3 2022
- Commercial Real Estate$46.2M+5.0%94.1%
- Land Operations$2.9M-81.2%5.9%
Forward guidance
The Company is revising its annual 2022 guidance to reflect its improved outlook.
Tailwinds
- Core FFO per diluted share is expected to be $1.07 to $1.11.
- CRE Same-Store NOI is expected to be 4.5% to 6.5%.
- CRE Same-Store NOI, excluding prior year reserve reversals, is expected to be 4% to 6%.
- Company's Board plans to declare a fourth quarter 2022 dividend in December 2022, with payment in January 2023.
- Company expects strong second quarter CRE results for the remainder of 2022.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 8 quarterly earnings reports
-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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