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Alexander & Baldwin (ALEX)
NYSE:ALEX
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Earnings Data
Report Date
Feb 26, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.15Last Year’s EPS
$0.12Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 24, 2024
|% Change Since: -3.41%
|Next Earnings Date:Feb 26, 2025
Earnings Call Sentiment|Positive
The earnings call reflected a positive sentiment with strong financial performance, successful acquisitions, and raised guidance outweighing the challenges of decreased visitor arrivals and expected vacancies.Company Guidance
During the Alexander & Baldwin third quarter 2024 earnings call, management provided updated guidance with several key metrics. They raised their full-year guidance for same-store NOI growth to a range of 1.75% to 2.75% and same-store NOI growth excluding reserve reversals to between 2.25% and 3.15%. The company also increased their full-year FFO guidance to between $1.27 and $1.35 per share, with CRE and Corporate-related FFO expected to range from $1.07 to $1.11 per share. Land Operations FFO is forecasted to be $0.20 to $0.24 per share. Additionally, they reported a third-quarter FFO of $28.2 million or $0.39 per share, up from $21.2 million or $0.29 per share in the same quarter last year. AFFO for the quarter was $23.4 million or $0.32 per share. Total NOI grew by 4.4%, with same-store NOI increasing by 4.1% and same-store NOI, excluding prior year reserves, by 4.7%. The company executed 71 leases during the quarter, maintaining a same-store leased occupancy rate of 94.8% and an economic occupancy rate of 93.7%. The balance sheet was strengthened with a new ATM program and credit facility recast extending the revolver maturity to 2028, supporting their ability to access capital markets efficiently.Increased FFO and AFFO
FFO for Q3 2024 increased to $28.2 million or $0.39 per share, up from $21.2 million or $0.29 per share in Q3 2023. AFFO was $23.4 million or $0.32 per share, compared to $17.4 million or $0.24 per share last year.
Successful Asset Acquisition
Closed on the acquisition of an 81,500-square-foot industrial asset on Oahu for $29.7 million at a cap rate of 5.4%.
Positive Leasing Activity
Executed 71 leases representing over 182,000 square feet with blended spreads of 15.3%.
Raised Full Year Guidance
Raised 2024 guidance for same-store NOI growth and FFO, reflecting improved performance and outlook.
Improved Balance Sheet Metrics
Net debt to adjusted EBITDA improved to 3.6x from 4.2x at year-end 2023.
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ALEX Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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ALEX Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 24, 2024 | $18.09 | $18.50 | +2.27% |
| Jul 25, 2024 | $17.91 | $19.05 | +6.37% |
| Apr 25, 2024 | $15.25 | $15.60 | +2.30% |
| Feb 28, 2024 | $15.90 | $15.45 | -2.83% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Alexander & Baldwin (ALEX) report earnings?
Alexander & Baldwin (ALEX) is schdueled to report earning on Feb 26, 2025, TBA Not Confirmed.
What is Alexander & Baldwin (ALEX) earnings time?
Alexander & Baldwin (ALEX) earnings time is at Feb 26, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is ALEX EPS forecast?
ALEX EPS forecast for the fiscal quarter 2024 (Q4) is $0.15.
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