NYSE$ALEX

Alexander & Baldwin Inc · Q4 2020 earnings

Q4 2020 earnings · · Investor relations

Briefing

Alexander & Baldwin reported mixed results with CRE revenue decrease but positive momentum in asset monetization and Grace Pacific performance.

Alexander & Baldwin, Inc. reported fourth quarter 2020 results with net income available to A&B common shareholders of $1.0 million, or $0.01 per share. The company saw continued recovery of commercial real estate collections and positive momentum in asset monetization and Grace Pacific performance. Overall occupancy decreased slightly, but industrial portfolio occupancy reached a high-water mark.

  • Net Income Available to A&B Common Shareholders was $1.0 million, with diluted earnings per share of $0.01.
  • CRE revenue decreased by 12.1% to $36.9 million.
  • Comparable leasing spreads were 8.6% portfolio-wide.
  • The Company reinstated a fourth quarter 2020 dividend of $0.15 per share.

Headline financials

Total Revenue

$72.8M

Previous: $108M-32.3%
EPS (adj)

$0.01

Previous: $0.08-87.5%
Total Leased Occupancy

93.5%

Previous: 93.9%-0.4%
Retail Portfolio Occupancy

91.2%

No prior period
Industrial Portfolio Occupancy

98.6%

No prior period
Net Income

$1.1M

Previous: $5.2M-78.8%
Operating Income

$13.8M

Previous: $18M-23.3%
Gross Profit

$18.3M

Previous: $18M+1.7%
Cash & Equivalents

$57.2M

Previous: $15.2M+276.3%
Total Assets

$2.04B

Previous: $2.08B-2.3%
Stock-Based Comp

$1.4M

Previous: $1.3M+7.7%

Revenue & EPS history

Alexander & Baldwin · Revenue · Quarterly

$72.8M

Q4 2020-32.3%vs Q4 2019
Beat estimate in 10 of 16 quarters(63%)
ActualEstimate

Revenue by segment

Alexander & Baldwin · $48.5M total across 2 segments · Q4 2020

  • Commercial Real Estate
    $36.9M-12.1%
  • Land Operations
    $11.6M-63.4%

Forward guidance

Initial outlook for 2021 includes CRE Same-Store NOI growth between 0% and 4%, and Core FFO per diluted share between $0.67 and $0.77.

Tailwinds

  • CRE Same-Store NOI: 0% to 4%
  • Core FFO per diluted share: $0.67 to $0.77

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 8 quarterly earnings reports

Historical avg

-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

Earnings price reactions
QuarterReport dateReaction (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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