Alexander & Baldwin, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 02, 2023 at 04:05 pm EDT
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Alexander & Baldwin, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 48.2 million compared to USD 46.5 million a year ago. Revenue was USD 52.5 million compared to USD 49.4 million a year ago. Net income was USD 14.6 million compared to USD 6.4 million a year ago. Basic earnings per share from continuing operations was USD 0.16 compared to USD 0.08 a year ago. Diluted earnings per share from continuing operations was USD 0.16 compared to USD 0.08 a year ago. Basic earnings per share was USD 0.2 compared to USD 0.09 a year ago. Diluted earnings per share was USD 0.2 compared to USD 0.09 a year ago.
For the nine months, sales was USD 145.6 million compared to USD 138.8 million a year ago. Revenue was USD 156 million compared to USD 159.7 million a year ago. Net income was USD 33.3 million compared to USD 21 million a year ago. Basic earnings per share from continuing operations was USD 0.44 compared to USD 0.29 a year ago. Diluted earnings per share from continuing operations was USD 0.44 compared to USD 0.29 a year ago. Basic earnings per share was USD 0.46 compared to USD 0.29 a year ago. Diluted earnings per share was USD 0.46 compared to USD 0.29 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. 
