Alexander & Baldwin Second Quarter 2024 Earnings: Revenues Beat Expectations, EPS Lags

Alexander & Baldwin (NYSE:ALEX) Second Quarter 2024 Results

Key Financial Results

• Revenue: US$52.0m (down 3.0% from 2Q 2023).
• Funds from operations (FFO): US$20.6m (up 4.0% from 2Q 2023).
• FFO margin: 40% (up from 37% in 2Q 2023). The increase in margin was driven by lower expenses.
• FFO per share: US$0.3 (up from US$0.27 in 2Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Alexander & Baldwin Revenues Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates by 5.7%. Earnings per share (EPS) missed analyst estimates by 7.1%.

Looking ahead, revenue is expected to decline by 5.5% p.a. on average during the next 2 years, while revenues in the REITs industry in the US are expected to grow by 3.3%.

Performance of the American REITs industry.

The company's shares are up 5.4% from a week ago.

Risk Analysis

It is worth noting though that we have found 3 warning signs for Alexander & Baldwin (1 is a bit concerning!) that you need to take into consideration.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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