Alexander & Baldwin, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
July 27, 2023 at 04:05 pm EDT
Share
Alexander & Baldwin, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 49.5 million compared to USD 46 million a year ago. Revenue was USD 53.1 million compared to USD 51.1 million a year ago. Net income was USD 13.4 million compared to USD 4.1 million a year ago. Basic earnings per share from continuing operations was USD 0.15 compared to USD 0.08 a year ago. Diluted earnings per share from continuing operations was USD 0.15 compared to USD 0.07 a year ago. Basic earnings per share was USD 0.18 compared to USD 0.06 a year ago. Diluted earnings per share was USD 0.18 compared to USD 0.05 a year ago.
For the six months, sales was USD 97.4 million compared to USD 92.3 million a year ago. Revenue was USD 103.5 million compared to USD 110.3 million a year ago. Net income was USD 18.7 million compared to USD 14.6 million a year ago. Basic earnings per share from continuing operations was USD 0.28 compared to USD 0.21 a year ago. Diluted earnings per share from continuing operations was USD 0.28 compared to USD 0.21 a year ago. Basic earnings per share was USD 0.26 compared to USD 0.2 a year ago. Diluted earnings per share was USD 0.26 compared to USD 0.2 a year ago.
Alexander & Baldwin, Inc. (A&B) is a real estate investment trust (REIT). The Company is focused on owning, operating, and developing commercial real estate. The Company operate through two segments: Commercial Real Estate and Land Operations. The Commercial Real Estate segment functions as a vertically integrated real estate investment company with competencies in investments and acquisitions, including identifying opportunities and acquiring properties; construction and development, including designing and ground-up development of new properties and in-house leasing and property management. The Land Operations segment includes the Company's landholdings, assets, and liabilities that are subject to the Company's simplification and monetization effort. It owns, operates, and manages approximately 3.9 million square feet of commercial space in Hawai'i, including 22 retail centers, 13 industrial assets and four office properties, as well as 142 acres of ground leases.
ALEXANDER & BALDWIN, INC. 
