Alexander & Baldwin

Alexander & Baldwin, Inc. engages in real estate business. It operates through the following segments: Commercial Real Estate, Land Operations, and Materials and Construction. The Commercial Real Estate segment includes investments and acquisitions, construction and development, in-house leasing and property management, and asset management. The Land Operations segment consists of legacy assets and landholdings that are subject to the company's simplification and monetization effort. The Materials and Construction segment deals with asphalt paving contractor and natural materials and infrastructure construction services. The company was founded by Samuel Thomas Alexander and Henry Perrine Baldwin on 1870 and is headquartered in Honolulu, HI.

Earnings data Q1 2021

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Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

Alexander & Baldwin (ALEX) reports robust CRE performance and challenges

ALEX showcased strong performance in commercial real estate and financial stability for the full year.
The company faced challenges related to tenant bankruptcies, capital allocation, and economic uncertainties.
Opportunities for growth include optimizing capital allocation, strategic reinvestment, and following guidance for 2023.
Overall, ALEX's resilience, strategic focus, and market positioning were key takeaways from the earnings call.

Alexander & Baldwin (ALEX) reports strong Q1 performance amidst leadership change

Alexander & Baldwin (ALEX) delivered a solid performance in Q1 2023, driven by commercial real estate growth and Hawaii's strong local economy.
While facing challenges in retail trends, debt refinancing, and business diversification, the company remains focused on sustainable growth strategies.
With a smooth CEO transition and a strategic focus on organic and external growth opportunities, A&B is poised to navigate challenges and seize market opportunities.

Alexander & Baldwin (ALEX) reports robust Q2 earnings and raises Core FFO guidance

Alexander & Baldwin (ALEX) delivered a solid performance in Q2 2023, driven by strong CRE revenue growth and operational efficiency. Despite challenges in leased occupancy rates, the company remains optimistic about future gains and raised guidance for Core FFO.

Alexander & Baldwin (ALEX) reports solid Q3 performance amidst challenges

Alexander & Baldwin (ALEX) showcased strong financial performance and leasing activity, underlining resilience and growth potential.
While challenges like the impact of Maui wildfires were discussed, the company remains focused on strategic positioning and community engagement.
Positive guidance for core FFO and same-store NOI growth signals opportunities for continued success and value creation for stakeholders.

Alexander & Baldwin (ALEX) exceeds Q4 expectations, eyes growth opportunities

Alexander & Baldwin (ALEX) delivered strong financial results in Q4, exceeding expectations. The company's strategic initiatives and focus on core metrics position it well for future growth despite challenges in the market.

Alexander & Baldwin (ALEX) reports strong Q1 performance and outlook

Alexander & Baldwin (ALEX) delivered a robust Q1 performance, exceeding expectations in land sales and financial metrics.
The company's strong balance sheet, liquidity position, and strategic planning underscore its resilience and growth potential.
With raised guidance and proactive measures in place, ALEX is well-positioned to capitalize on opportunities and navigate challenges ahead.

Alexander & Baldwin (ALEX) reports growth in Q2 2024 earnings

Alexander & Baldwin (ALEX) delivered a solid performance in Q2 2024, showcasing growth in key financial metrics and operational areas. The company raised guidance across various segments and remains optimistic about its positioning for the year ahead.

Alexander & Baldwin (ALEX) reports robust Q3 earnings and strategic growth outlook

Alexander & Baldwin (ALEX) demonstrated strong financial performance and strategic focus in Q3 2024, supported by growth in NOI and FFO.
The company's emphasis on operational excellence and cost management underpins its resilience and growth prospects.
While challenges like rent spreads and land sales impact exist, opportunities in Hawaii's economy and strategic guidance revisions offer avenues for future success.

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Alexander & Baldwin, Inc. engages in the real estate business. It operates through the Commercial Real Estate and Land Operations segments. The Commercial Real Estate segment includes investments and acquisitions, construction and development, and in-house leasing and property management. The Land Operations segment consists of legacy landholdings, assets, and liabilities subject to the company's simplification and monetization effort. The company was founded by Samuel Thomas Alexander and Henry Perrine Baldwin in 1870 and is headquartered in Honolulu, HI.

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U.S. equity markets rebounded from their worst weekly decline in a year despite a continued uplift in benchmark interest rates, as a solid start to earnings season counteracted disappointing economic data. Ahead of the Fed's policy meeting in the week ahead, markets were confounded - albeit temporarily - by a "jarring" GDP report that showed a return of "stagflationary" trends. Defying the macro headwinds to post its best week since November, the S&P 500 rallied 2.8% on the week - erasing essentially all of its declines in the prior week.

Stagflation Is Back

Alexander & Baldwin, Inc. (NYSE:ALEX ) Q1 2024 Earnings Conference Call April 25, 2024 5:00 PM ET Company Participants Jessica Welch - Senior Manager of Financial Reporting Lance Parker - CEO Clayton Chun - CFO Kit Millan - SVP, Asset Management Conference Call Participants Rob Stevenson - Janney Connor Mitchell - Piper Sandler & Co. Mitch Germain - Citizens JMP Brendan McCarthy - Sidoti Operator Good day, and welcome to the First Quarter 2024 Alexander & Baldwin Earnings Conference Call. [Operator Instructions] This call is being recorded on Thursday, April 25, 2024.

Alexander & Baldwin, Inc. (ALEX) Q1 2024 Earnings Call Transcript

HONOLULU , April 25, 2024 /PRNewswire/ -- Alexander & Baldwin, Inc. (NYSE: ALEX) ("A&B" or "Company"), a Hawai'i-based owner, operator and developer of high-quality commercial real estate in Hawai'i, today announced net income available to A&B common shareholders of $20.0 million, or $0.28 per diluted share, and Commercial Real Estate ("CRE") operating profit of $22.0 million for the first quarter of 2024. Q1  2024 Highlights Funds From Operations ("FFO") of $29.2 million, or $0.40 per diluted share / Adjusted FFO of $25.5 million, or $0.35 per diluted share CRE Same-Store Net Operating Income ("NOI") growth of 4.1% / CRE Same-Store NOI growth of 3.9% excluding collections of prior year reserves Leased occupancy as of March 31, 2024, was 94.0% Comparable new and renewal leasing spreads for the improved portfolio were 11.8% and 7.2%, respectively Lance Parker, president and chief executive officer, stated: "We began the year with strong results across the board.

Alexander & Baldwin, Inc. Reports First Quarter 2024 Results

HONOLULU , April 24, 2024 /PRNewswire/ -- The Board of Directors of Alexander & Baldwin, Inc. (NYSE: ALEX) ("A&B" or "Company"), a Hawai'i-based owner, operator and developer of high-quality commercial real estate in Hawai'i, approved a second quarter 2024 dividend of $0.2225 (twenty-two and ¼ cents) per share. The dividend is payable on July 8, 2024, to shareholders of record as of the close of business on June 14, 2024.

Alexander & Baldwin Second Quarter 2024 Dividend Authorized

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HONOLULU , April 16, 2024 /PRNewswire/ -- Alexander & Baldwin, Inc. (NYSE: ALEX) ("A&B"), a Hawai'i-based company focused on owning, operating, and developing high-quality commercial real estate in Hawai'i, today announced that it completed the private placement of a $60 million unsecured 6.09% note maturing on April 15, 2032 (the "Series M Note") under A&B's existing agreement with Prudential Investment Management, Inc. and its affiliates (collectively, "Prudential"), as amended. Proceeds from the Series M Note will be used to pay down the mortgage note secured by Laulani Village when it matures on May 1, 2024, and for general corporate purposes.

Alexander & Baldwin Announces $60 Million, 6.09% Fixed Rate Financing Maturing in 2032

HONOLULU, April 8, 2024 /PRNewswire/ -- Alexander & Baldwin, Inc. (NYSE: ALEX) (A&B) will report results for the first quarter 2024, after the market closes, on Thursday, April 25, 2024. In connection with this announcement, A&B will host a conference call and webcast on Thursday, April 25, 2024, at 5:00 p.m.

Alexander & Baldwin Announces First Quarter 2024 Earnings Release and Conference Call Date

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HONOLULU , Feb. 29, 2024 /PRNewswire/ -- Alexander & Baldwin, Inc. (NYSE: ALEX) ("A&B" or "Company"), a Hawai'i-based company focused on owning, operating, and developing high-quality commercial real estate in Hawai'i, announced today that its management team will participate in the Citi 2024 Global Property CEO Conference. A&B will participate in a roundtable discussion on Wednesday, March 6, 2024, from 8:50 a.m.

Alexander & Baldwin to Participate in the Citi 2024 Global Property CEO Conference

Alexander & Baldwin, Inc. (ALEX) Q4 2023 Earnings Call Transcript

While the top- and bottom-line numbers for Alexander & Baldwin Holdings, Inc. (ALEX) give a sense of how the business performed in the quarter ended December 2023, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.

Alexander & Baldwin Holdings, Inc. (ALEX) Reports Q4 Earnings: What Key Metrics Have to Say

Alexander & Baldwin Holdings, Inc. (ALEX) came out with quarterly funds from operations (FFO) of $0.29 per share, beating the Zacks Consensus Estimate of $0.27 per share. This compares to FFO of $0.31 per share a year ago.

Alexander & Baldwin Holdings, Inc. (ALEX) Q4 FFO and Revenues Surpass Estimates

HONOLULU , Feb. 28, 2024 /PRNewswire/ -- Alexander & Baldwin, Inc. (NYSE: ALEX) ("A&B" or "Company"), a Hawai'i-based company focused on owning, operating, and developing high-quality commercial real estate in Hawai'i, today announced net loss available to A&B common shareholders of $3.5 million, or $0.05 per diluted share, and Commercial Real Estate ("CRE") operating profit of $17.0 million for the fourth quarter of 2023. The Company reported net income available to A&B common shareholders of $29.7 million, or $0.41 per diluted share, and CRE operating profit of $81.2 million for the full year of 2023.

Alexander & Baldwin, Inc. Reports Fourth Quarter and Full-Year 2023 Results

HONOLULU , Feb. 27, 2024 /PRNewswire/ -- Alexander & Baldwin, Inc. (NYSE: ALEX) ("A&B" or "Company"), a Hawai'i-based company focused on owning, operating, and developing high-quality commercial real estate in Hawai'i, announced today that its management team will participate in the Wolfe Research Virtual Real Estate Conference. A&B will present on Thursday, February 29, 2024, at 2:20 p.m Eastern Time.

Alexander & Baldwin to Participate in the Wolfe Research Virtual Real Estate Conference

Final Phase of Subdivision Provides Unique Commercial Development Opportunities in Kahului, Maui HONOLULU , Feb. 21, 2024 /PRNewswire/ -- Alexander & Baldwin, Inc. (NYSE: ALEX) ("A&B" or "Company"), a Hawai'i-based company focused on owning, operating, and developing high-quality commercial real estate in Hawai'i, announced a build-to-suit lease and two sales at its Maui Business Park Phase II (MBP II) project in Kahului, Maui. The first transaction is a build-to-suit industrial lease to develop a Class A, 29,500-square-foot warehouse and distribution facility on two lots totaling 2.4 acres for lease to a national food manufacturer and distributor.

Alexander & Baldwin Announces Three Transactions at Maui Business Park II

HONOLULU , Jan. 31, 2024 /PRNewswire/ -- Alexander & Baldwin, Inc. (NYSE: ALEX) ("A&B" or "Company"), a Hawai'i-based company focused on owning, operating, and developing high-quality commercial real estate in Hawai'i, today announced the allocations of the Company's 2023 dividend distributions to its common shares. The table below, presented on a per share basis is provided for information purposes only and should only be used to clarify the information on Form 1099-DIV.

Alexander & Baldwin Announces Reporting Information for 2023 Dividend Distributions

HONOLULU , Jan. 24, 2024 /PRNewswire/ -- Alexander & Baldwin, Inc. (NYSE: ALEX) ("A&B" or "Company"), a Hawai'i-based company focused on owning, operating, and developing high-quality commercial real estate in Hawai'i, will report results for the fourth quarter and full-year 2023 after the market closes on Wednesday, February 28, 2024. In connection with this announcement, A&B will host a conference call on Wednesday, February 28, 2024, at 5:00 p.m.

Alexander & Baldwin Announces Fourth Quarter and Full-Year 2023 Earnings Release and Conference Call Date

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HONOLULU, Dec. 11, 2023 /PRNewswire/ -- The Board of Directors of Alexander & Baldwin, Inc. (NYSE: ALEX) ("A&B" or "Company"), a Hawai'i-based company focused on owning, operating, and developing high-quality commercial real estate in Hawai'i, approved a fourth quarter 2023 dividend of $0.2225 (twenty-two and ¼ cents) per share. The dividend is payable on January 8, 2024, to shareholders of record as of the close of business on December 22, 2023.

Alexander & Baldwin Fourth Quarter 2023 Dividend Authorized

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Nan, Inc. Acquires one of Hawai'i's Largest Paving Contractors; Expands Footprint in Hawai'i HONOLULU , Nov. 15, 2023 /PRNewswire/ -- Alexander & Baldwin, Inc. (NYSE: ALEX) ("A&B" or "Company"), a Hawai'i-based company focused on owning, operating, and developing high-quality commercial real estate in Hawai'i, announced today, it has sold Grace Pacific LLC to Nan, Inc., Hawai'i's largest, locally owned construction company. A&B acquired Grace Pacific, one of the state's largest asphalt paving contractors, materials, and construction companies, in 2013.

Alexander & Baldwin Sells Grace Pacific

HONOLULU , Nov. 9, 2023 /PRNewswire/ -- Alexander & Baldwin, Inc. (NYSE: ALEX) (A&B) announced today that its management team will participate in investor meetings at Nareit's REITworld 2023 Annual Conference in Los Angeles, California. Investor material for the conference scheduled for November 14-16, 2023, may be accessed on the Company's website at www.alexanderbaldwin.com.

Alexander & Baldwin to Participate in Nareit's REITworld 2023 Annual Conference

Alexander & Baldwin, Inc. (NYSE:ALEX ) Q3 2023 Earnings Conference Call November 2, 2023 5:00 PM ET Company Participants Steve Swett - Investor Relations Lance Parker - Chief Executive Officer Clayton Chun - Chief Financial Officer Kit Millan - Senior Vice President-Asset Management Conference Call Participants Connor Mitchell - Piper Sandler Operator Hello, and welcome to the Alexander & Baldwin Third Quarter 2023 earnings conference call. All participants will be in listen only mode.

Alexander & Baldwin, Inc. (ALEX) Q3 2023 Earnings Call Transcript

Alexander & Baldwin's current P/FFO valuation multiple is way below its historical average. Alexander & Baldwin's potential catalysts include a faster pace of share repurchases, initiatives to maximize the value of portfolio assets, and earnings beats for Q4 2023 and 2024. I retain my Buy rating for ALEX in consideration of both valuations and catalysts.

News for Alexander & Baldwin Stock (ALEX)