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

Key Financial Results

• Revenue: US$51.0m (down 4.8% from 2Q 2023).

• Net income: US$11.7m (up 9.7% from 2Q 2023).

• Profit margin: 23% (up from 20% in 2Q 2023). The increase in margin was driven by lower expenses.

• EPS: US$0.16 (up from US$0.15 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 6.6% 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 9.4% from a week ago.

Risk Analysis

Be aware that Alexander & Baldwin is showing 3 warning signs in our investment analysis and 1 of those is a bit unpleasant...

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