secwatch.observer — SEC 8-K summary
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Issuer:     Alexander & Baldwin, Inc. (—)
CIK:        0001545654
Form:       8-K
Filed at:   2024-04-25T23:59:59+00:00
Accession:  0001545654-24-000018
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 5.07, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1545654/000154565424000018/0001545654-24-000018-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1545654/000154565424000018/alex-20240425.htm
  HTML page:      https://secwatch.observer/filing/0001545654-24-000018

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer