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Alexander's (ALX)
NYSE:ALX
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Earnings Data
Report Date
Feb 17, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
―Last Year’s EPS
$4.99Same Quarter Last Year
Based on 0 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 04, 2024
|% Change Since: -8.55%
|Next Earnings Date:Feb 17, 2025
Earnings Call Sentiment|Neutral
The earnings call reflects a generally positive sentiment driven by strong leasing activity, significant transactions, and a robust liquidity position. However, challenges such as lower FFO and high interest rates are noted, indicating a balanced outlook.Company Guidance
During the Vornado Realty Trust Second Quarter 2024 Earnings Call, management highlighted several key metrics and strategic focuses. The company's business continues to improve, with leasing as a primary focus, reporting a 70% building utilization rate. The New York City office market remains strong, with an absence of new office buildings started in the last five years, helping shift dynamics towards a landlord's market. Noteworthy transactions include the Bloomberg renewal at 731 Lexington Avenue for 947,000 square feet, creating a 16-year term, and the sale of UNIQLO's Fifth Avenue flagship, valued at a 4.2% cap rate. Financially, the second quarter FFO was $0.76 per share, excluding $0.19 of noncomparable items, while comparable FFO as adjusted was $0.57 per share, down from $0.72 per share the previous year. The company expects 2024 comparable FFO to be lower than 2023’s $2.61 per share due to higher net interest expenses and known vacancies, though it anticipates an earnings increase by late 2025 as new leases commence and interest rates potentially decline.Strong Leasing Activity
Leased 1.6 million square feet in the first two quarters at market-leading rents of $130 per square foot, with a 9.1% cash mark-to-market excluding the Bloomberg renewal.
Major Transactions
Sold UNIQLO's Fifth Avenue flagship for around $330 million, and reached a handshake deal for a long-term master lease of 770 Broadway's office component.
Bloomberg Renewal
Secured a significant 947,000 square foot lease renewal with Bloomberg at 731 Lexington Avenue, extending the term for 16 years.
Strong Liquidity Position
Maintained strong liquidity of $2.7 billion, including $1.1 billion in cash and $1.6 billion available under revolving credit facilities.
Positive Market Outlook
Optimistic outlook for New York City office market with rising rents and no significant new supply, positioning it as a landlord's market.
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ALX 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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ALX Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 04, 2024 | $221.86 | $217.34 | -2.04% |
| Aug 05, 2024 | $220.44 | $203.78 | -7.56% |
| May 06, 2024 | $201.41 | $217.25 | +7.86% |
| Feb 12, 2024 | $205.30 | $205.29 | >-0.01% |
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's (ALX) report earnings?
Alexander's (ALX) is schdueled to report earning on Feb 17, 2025, TBA Not Confirmed.
What is Alexander's (ALX) earnings time?
Alexander's (ALX) earnings time is at Feb 17, 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 ALX EPS forecast?
Currently, no data Available
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