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Jun 30, 2020
Alexander & Baldwin Q2 2020 Earnings Report
Announced financial results for the second quarter of 2020, experiencing impacts from the COVID-19 pandemic but steadily recovering as businesses reopened.
Key Takeaways
Alexander & Baldwin reported a net loss of $4.7 million, or $0.07 per share, for the second quarter of 2020, compared to a net loss of $0.8 million, or $0.01 per share, in the same quarter of 2019. The company's CRE business experienced material impacts from the COVID-19 pandemic, but steadily recovered as businesses reopened. The portfolio collection rate in the second quarter was 70%.
Net loss available to A&B common shareholders and loss per share were $4.7 million and $0.07 per share, respectively.
CRE revenue decreased $5.1 million, or 13.0%, to $34.0 million.
CRE operating profit decreased by $8.1 million, or 47.6%, to $8.9 million.
Overall occupancy was 94.6% as of June 30, 2020.
Revenue by Segment
Forward Guidance
Due to continued uncertainty amid the COVID-19 pandemic, it would be premature for the Company to reinstate guidance at this time.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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