Alexander & Baldwin, Inc. Files 10-Q for Period Ending March 31, 2024
Ticker: ALEX · Form: 10-Q · Filed: Apr 26, 2024 · CIK: 1545654
Sentiment: neutral
Topics: 10-Q, Alexander & Baldwin, Real Estate, Financial Report, Q1 2024
TL;DR
<b>Alexander & Baldwin, Inc. has filed its Q1 2024 10-Q report, detailing financial performance and operational updates.</b>
AI Summary
Alexander & Baldwin, Inc. (ALEX) filed a Quarterly Report (10-Q) with the SEC on April 26, 2024. Alexander & Baldwin, Inc. filed a 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of 2024. The company's fiscal year ends on December 31st. Alexander & Baldwin, Inc. is classified under Real Estate Investment Trusts (SIC 6798). The company's principal business address is in Honolulu, HI.
Why It Matters
For investors and stakeholders tracking Alexander & Baldwin, Inc., this filing contains several important signals. This 10-Q filing provides crucial insights into Alexander & Baldwin's financial health and operational performance during the first quarter of 2024, enabling investors to assess recent business trends. Understanding the details within this report is essential for stakeholders to make informed investment decisions regarding Alexander & Baldwin's real estate and land operations.
Risk Assessment
Risk Level: low — Alexander & Baldwin, Inc. shows low risk based on this filing. The filing is a standard 10-Q report, which is routine for publicly traded companies and does not indicate any unusual or high-risk events.
Analyst Insight
Review the detailed financial statements and segment performance within the 10-Q to understand Alexander & Baldwin's current operational status and future outlook.
Key Numbers
- 2024-03-31 — Reporting Period End Date (Conformed period of report)
- 2024-04-26 — Filing Date (Filed as of date)
- 1231 — Fiscal Year End (Fiscal year end)
- 6798 — SIC Code (Standard Industrial Classification)
Key Players & Entities
- Alexander & Baldwin, Inc. (company) — Filer name
- 2024-03-31 (date) — Conformed period of report
- 2024-04-26 (date) — Filed as of date
- 0001545654-24-000020 (filing_id) — Accession number
- 6798 (industry_code) — Standard Industrial Classification
- HI (location) — State of incorporation and business address
- 822 Bishop Street (address) — Business address
- Honolulu (location) — City of business address
FAQ
When did Alexander & Baldwin, Inc. file this 10-Q?
Alexander & Baldwin, Inc. filed this Quarterly Report (10-Q) with the SEC on April 26, 2024.
What is a 10-Q filing?
A 10-Q is a quarterly financial report with unaudited financials, management discussion, and interim business updates. This particular 10-Q was filed by Alexander & Baldwin, Inc. (ALEX).
Where can I read the original 10-Q filing from Alexander & Baldwin, Inc.?
You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by Alexander & Baldwin, Inc..
What are the key takeaways from Alexander & Baldwin, Inc.'s 10-Q?
Alexander & Baldwin, Inc. filed this 10-Q on April 26, 2024. Key takeaways: Alexander & Baldwin, Inc. filed a 10-Q report for the period ending March 31, 2024.. The filing covers the first quarter of 2024.. The company's fiscal year ends on December 31st..
Is Alexander & Baldwin, Inc. a risky investment based on this filing?
Based on this 10-Q, Alexander & Baldwin, Inc. presents a relatively low-risk profile. The filing is a standard 10-Q report, which is routine for publicly traded companies and does not indicate any unusual or high-risk events.
What should investors do after reading Alexander & Baldwin, Inc.'s 10-Q?
Review the detailed financial statements and segment performance within the 10-Q to understand Alexander & Baldwin's current operational status and future outlook. The overall sentiment from this filing is neutral.
How does Alexander & Baldwin, Inc. compare to its industry peers?
Alexander & Baldwin, Inc. operates within the Real Estate Investment Trusts sector, focusing on commercial real estate and land operations.
Are there regulatory concerns for Alexander & Baldwin, Inc.?
As a publicly traded company, Alexander & Baldwin, Inc. is subject to SEC regulations, including the requirement to file quarterly reports (10-Q) detailing its financial condition and operations.
Industry Context
Alexander & Baldwin, Inc. operates within the Real Estate Investment Trusts sector, focusing on commercial real estate and land operations.
Regulatory Implications
As a publicly traded company, Alexander & Baldwin, Inc. is subject to SEC regulations, including the requirement to file quarterly reports (10-Q) detailing its financial condition and operations.
What Investors Should Do
- Analyze the financial statements for the quarter ended March 31, 2024, to understand revenue, expenses, and profitability.
- Examine segment performance, particularly for Commercial Real Estate and Land Operations, to identify key drivers of results.
- Review any disclosures related to debt, equity, and cash flow to assess the company's financial stability.
Key Dates
- 2024-03-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
- 2024-04-26: Filing Date — Date the 10-Q report was officially filed with the SEC.
Year-Over-Year Comparison
This is the initial 10-Q filing for the fiscal year 2024, following the 2023 annual report.
Filing Stats: 4,633 words · 19 min read · ~15 pages · Grade level 16.4 · Accepted 2024-04-25 20:47:24
Filing Documents
- alex-20240331.htm (10-Q) — 1173KB
- a10axviithirdamendedandres.htm (EX-10.AXVII) — 861KB
- a2024q1ex311-ceocertificat.htm (EX-31.1) — 10KB
- a2024q1ex312-cfocertificat.htm (EX-31.2) — 10KB
- a2024q1ex32-soxcertificati.htm (EX-32) — 8KB
- 0001545654-24-000020.txt ( ) — 8326KB
- alex-20240331.xsd (EX-101.SCH) — 58KB
- alex-20240331_cal.xml (EX-101.CAL) — 108KB
- alex-20240331_def.xml (EX-101.DEF) — 285KB
- alex-20240331_lab.xml (EX-101.LAB) — 673KB
- alex-20240331_pre.xml (EX-101.PRE) — 472KB
- alex-20240331_htm.xml (XML) — 986KB
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements 1 Condensed Consolidated Balance Sheets - As of March 31, 2024 and December 31, 2023 1 Condensed Consolidated Statements of Operations - Three Months Ended March 31, 2024 and 2023 2 Condensed Consolidated Statements of Comprehensive Income (Loss) - Three Months Ended March 31, 2024 and 2023 3 Condensed Consolidated Statements of Cash Flows - Three Months Ended March 31, 2024 and 2023 4 Condensed Consolidated Statements of Equity and Redeemable Noncontrolling Interest - Three Months Ended March 31, 2024 and 2023 6 Notes to Condensed Consolidated Financial Statements 7
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 23
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk 38
Controls and Procedures
Item 4. Controls and Procedures 38
OTHER INFORMATION
PART II. OTHER INFORMATION
Legal Proceedings
Item 1. Legal Proceedings 39
Risk Factors
Item 1A. Risk Factors 39
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 39
Other Information
Item 5. Other Information 39
Exhibit Index
Item 6. Exhibit Index 40 Signature 41
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
FINANCIAL STATEMENTS
ITEM 1. FINANCIAL STATEMENTS ALEXANDER & BALDWIN, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (dollars in thousands; unaudited) March 31, December 31, 2024 2023 ASSETS Real estate investments Real estate property $ 1,612,280 $ 1,609,013 Accumulated depreciation ( 234,564 ) ( 227,282 ) Real estate property, net 1,377,716 1,381,731 Real estate developments 55,531 58,110 Investments in real estate joint ventures and partnerships 6,828 6,850 Real estate intangible assets, net 34,730 36,298 Real estate investments, net 1,474,805 1,482,989 Cash and cash equivalents 15,683 13,517 Restricted cash 236 236 Accounts receivable, net of allowances (credit losses and doubtful accounts) of $ 2,503 and $ 2,888 as of March 31, 2024, and December 31, 2023, respectively 3,715 4,533 Goodwill 8,729 8,729 Other receivables, net of allowances of $ 3,565 and $ 3,545 as of March 31, 2024, and December 31, 2023, respectively 15,407 23,601 Prepaid expenses and other assets 103,711 98,652 Assets held for sale 14,004 13,984 Total assets $ 1,636,290 $ 1,646,241 LIABILITIES AND EQUITY Liabilities: Notes payable and other debt $ 457,574 $ 463,964 Accounts payable 4,350 5,845 Accrued post-retirement benefits 8,275 9,972 Deferred revenue 72,460 70,353 Accrued and other liabilities 87,305 93,096 Total liabilities 629,964 643,230 Commitments and Contingencies (Note 7) Equity: Common stock - no par value; authorized, 225,000,000 shares; outstanding, 72,592,147 and 72,447,510 shares at March 31, 2024, and December 31, 2023, respectively 1,808,009 1,809,095 Accumulated other comprehensive income (loss) 3,979 3,250 Distributions in excess of accumulated earnings ( 805,662 ) ( 809,334 ) Total shareholders' equity 1,006,326 1,003,011 Total liabilities and equity $ 1,636,290 $ 1,646,241 See Notes to Condensed Consolidated Financial Statements. 1 ALEXANDER & BALDWIN, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (amounts in thousands, except per shar