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Dec 31, 2021
Alexander & Baldwin Q4 2021 Earnings Report
Alexander & Baldwin reported strong Q4 2021 results driven by commercial real estate and land operations performance.
Key Takeaways
Alexander & Baldwin reported net income available to common shareholders of $6.1 million, or $0.08 per share, compared to $1.0 million, or $0.01 per share in the same quarter of 2020. CRE revenue increased by $9.1 million, or 24.7%, to $46.0 million. CRE net operating income increased by $7.2 million, or 33.3%, to $28.8 million.
CRE NOI surpassed pre-pandemic levels.
Total portfolio leased occupancy ended the year at 94.3%.
Experienced robust leasing activity, including two consecutive quarters of record-level new leasing.
Comparable leasing spreads were 5.4% portfolio-wide for the fourth quarter of 2021 and 5.6% for retail spaces.
Revenue by Segment
Forward Guidance
Initial outlook for 2022 includes:
Positive Outlook
- CRE Same-Store NOI: 0% to 2%
- CRE Same-Store NOI: 2% to 4%, excluding prior year reserve reversals
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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