Fri, Feb 28, 11:07 AM (17 days ago)
**Summary of Alexander & Baldwin, Inc. (ALEX) Financial Performance for FY 2024** For the fiscal year ended December 31, 2024, Alexander & Baldwin, Inc. reported total revenue of $236,641,000, a 13.3% increase from $208,843,000 in 2023. Operating income rose to $79,767,000, up 23.4% from $64,629,000, while net income attributable to A&B shareholders surged 103.1% to $60,537,000, or $0.83 per share, compared to $29,812,000 ($0.41 per share) in the prior year. The company’s Commercial Real Estate segment generated $197,365,000 in revenue, reflecting a modest 1.7% increase, while the Land Operations segment saw a significant rise to $39,276,000 from $14,872,000. Strategically, A&B continues to focus on enhancing its portfolio of grocery-anchored retail properties in Hawaii, benefiting from high barriers to entry and a stable economy. The company completed the sale of its Grace Disposal Group in November 2023, contributing to its simplification strategy. Future outlook remains cautiously optimistic, with anticipated capital expenditures of $60-70 million in 2025. However, risks include economic fluctuations, inflation, and reliance on local market conditions. The company maintains a strong balance sheet with total assets of $1,670,432,000 and a debt profile that supports its growth strategy.