Alexander & Baldwin Q1 net income of $20.0M; raises full-year guidance

Alexander & Baldwin, Inc.

2024-Q1 EPS reported $0.28 revenue$61,202,000

Net income to common shareholders $20.0M ($0.28 diluted EPS), vs $5.3M ($0.07) in Q1 2023.
FFO $29.2M ($0.40/diluted) and Adjusted FFO $25.5M ($0.35/diluted), up from $18.6M and $16.0M.
CRE same-store NOI grew 4.1% (3.9% ex prior-year reserves); leased occupancy 94.0%.
Raised 2024 FFO guidance to $1.05-$1.16/diluted share (from $0.95-$1.05) and Adj FFO to $0.89-$1.00.
Q2 dividend $0.2225/share declared; issued $60M private placement note at 6.09% due 2032.

item 2.02 item 5.07 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Alexander & Baldwin, Inc. reported the first quarter of 2024 results: revenue $48.9 million, net income $20.0 million, EPS $0.28 per diluted share. Guidance raised.

Period: the first quarter of 2024
Revenue: $48.9 million
Net income: $20.0 million
EPS: $0.28 per diluted share
Guidance: raised
Result: reported results

Exact text from the filing

and $0.22 per diluted share in the same quarter of 2023. CRE Highlights for Q1 2024 • CRE operating revenue for the first quarter of 2024 increased by $1.0 million, or 2.1%, to $48.9 million, compared to $47.9 million in the same quarter of 2023. • CRE operating profit for the first quarter of 2024 increased by $1.1 million, or 5.3%, to $22.0 million, compared to

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Source: SEC EDGAR

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