Yahoo Finance Alexander & Baldwin First Quarter 2024 Earnings: Beats Expectations
Alexander & Baldwin (NYSE:ALEX) First Quarter 2024 Results
Key Financial Results
Revenue: US$61.2m (up 21% from 1Q 2023).
Funds from operations (FFO): US$29.2m (up 57% from 1Q 2023).
FFO margin: 48% (up from 37% in 1Q 2023).
FFO per share: US$0.4 (up from US$0.26 in 1Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Alexander & Baldwin Revenues and Earnings Beat Expectations
Revenue exceeded analyst estimates by 24%. Earnings per share (EPS) also surpassed analyst estimates by 124%.
Looking ahead, revenue is expected to decline by 4.3% p.a. on average during the next 2 years, while revenues in the REITs industry in the US are expected to grow by 3.0%.
Performance of the American REITs industry.
The company's share price is broadly unchanged from a week ago.
Risk Analysis
It's necessary to consider the ever-present spectre of investment risk. We've identified 3 warning signs with Alexander & Baldwin (at least 2 which are concerning), and understanding these should be part of your investment process.
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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.
