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Dec 31, 2024
Alexander & Baldwin Q4 2024 Earnings Report
Alexander & Baldwin reported mixed financial results for Q4 2024, with increased net income and operating profit, but some KPIs showing slight declines compared to the previous year.
Key Takeaways
Alexander & Baldwin, Inc. reported net income available to A&B common shareholders of $12.4 million and Commercial Real Estate (CRE) operating profit of $22.0 million for the fourth quarter of 2024. The company saw healthy occupancy and strong leasing spreads, with a focus on continued organic and external growth opportunities.
Net income available to A&B common shareholders was $12.4 million, or $0.17 per diluted share.
Commercial Real Estate operating profit reached $22.0 million.
Funds From Operations (FFO) was $22.0 million, or $0.30 per diluted share.
Leased occupancy stood at 94.6% as of December 31, 2024.
Revenue by Segment
Forward Guidance
For the full-year 2025, Alexander & Baldwin expects diluted EPS to be between $0.64 and $0.71, FFO per diluted share between $1.13 and $1.20, and CRE Same-Store NOI growth between 2.4% and 3.2%.
Positive Outlook
- Expected FFO per diluted share of $1.13 to $1.20.
- Anticipated CRE Same-Store NOI growth of 2.4% to 3.2%.
- FFO per share related to CRE and Corporate expected to be $1.11 to $1.16.
- Continued focus on organic and external growth opportunities.
- Healthy occupancy and strong leasing volumes trending well.
Challenges Ahead
- Net Income (Loss) available to A&B common shareholders per diluted share expected to decrease to $0.64 to $0.71 from $0.83 in 2024.
- Guidance relies on assumptions that may not materialize.
- Uncertainty regarding occupancy changes and new/renewal lease terms.
- Potential impact of nonrecurring/unplanned income or expense items.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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