Alexander & Baldwin, Inc. ( (ALEX) ) has released its Q4 earnings. Here is a breakdown of the information Alexander & Baldwin, Inc. presented to its investors.
Alexander & Baldwin, Inc., a Hawai’i-based real estate investment trust, focuses on owning, operating, and developing commercial properties in Hawai’i, including retail centers, industrial assets, and office properties.
In its latest financial report, Alexander & Baldwin announced a net income of $12.4 million for the fourth quarter of 2024, with a full-year net income of $60.5 million. The company also reported a commercial real estate operating profit of $22.0 million for the quarter and $89.4 million for the year, highlighting a strong performance in its core operations.
Key financial metrics for the fourth quarter included funds from operations (FFO) of $22.0 million and adjusted FFO of $14.2 million. The company’s leased occupancy stood at 94.6%, and it achieved a 14.0% increase in comparable blended leasing spreads. For the full year, Alexander & Baldwin reported an FFO of $100.0 million and reduced general and administrative expenses by 12.4%. The company also initiated construction on a new warehouse and distribution center and amended its revolving credit facility.
Looking ahead, Alexander & Baldwin’s management expressed optimism about continued earnings growth in 2025, driven by both organic portfolio growth and external opportunities. The company remains focused on leveraging its strong market position in Hawai’i to enhance shareholder value.