Earnings Call Summary | Alexander & Baldwin Inc(ALEX.US) Q1 2024 Earnings Conference
Earnings Call Summary | Alexander & Baldwin Inc(ALEX.US) Q1 2024 Earnings Conference
The following is a summary of the Alexander & Baldwin, Inc. (ALEX) Q1 2024 Earnings Call Transcript:
以下是亞歷山大和鮑德溫公司（ALEX）2024年第一季度業績電話會議記錄摘要：
Financial Performance:
財務業績：
Alexander & Baldwin reported total Net Operating Income (NOI) growth of 4.4% and a same-store NOI growth of 4.1%.
The company reported Q1 2024 net income available to shareholders of $20 million, or $0.28 per diluted share.
The company reported Q1 2024 FFO of $29.2 million or $0.40 per diluted share.
The company achieved Adjusted Funds from Operations (AFFO) of $25.5 million or $0.35 per diluted share for Q1 2024.
General & Administrative (G&A) expenses decreased by $1.5 million or 17.1% to $7.2 million compared to $8.7 million in Q1 2023.
At quarter end, total debt outstanding was $458 million, and the company had total liquidity of $470 million.
亞歷山大和鮑德溫公佈的總淨營業收入（NOI）增長了4.4％，同店淨營業收入增長了4.1％。
該公司報告稱，2024年第一季度向股東提供的淨收益爲2,000萬美元，攤薄後每股收益爲0.28美元。
該公司報告稱，2024年第一季度FFO爲2920萬美元，攤薄後每股收益爲0.40美元。
該公司在2024年第一季度實現了2550萬美元的調整後運營資金（AFFO），攤薄每股收益爲0.35美元。
與2023年第一季度的870萬美元相比，一般與行政（G&A）支出減少了150萬美元，降幅爲17.1％，至720萬美元。
截至季度末，未償債務總額爲4.58億美元，該公司的總流動性爲4.7億美元。
Business Progress:
業務進展：
Same-store lease occupancy was 95%, slightly higher than the same period last year.
The company executed 44 leases in the improved property portfolio, covering 212,000 square feet, with blended spreads of 7.8%.
Over 300 acres of Land Operations segment were sold, exceeding the 2024 target and generating nearly $7.9 million of operating profit.
The company continues to prioritize the sale of remaining non-core assets.
Ground lease NOI growth is anticipated to be slightly negative in Q2 2024 and flat for the rest of the year.
The company plans to sell the majority of the 300 acres sold in Q1 in 2025, contributing to an increased 2024 Land Operations FFO per share projection.
Due to stronger-than-expected Commercial Real Estate (CRE) performance in Q1, the projected FFO per share attributable to CRE and corporate is expected to increase.
Office properties will be repositioned later in the year due to tenant move-outs.
The company sees opportunity in Land Operations and non-core land sales remain a priority.
同店租賃入住率爲95％，略高於去年同期。
該公司在改善後的房地產投資組合中執行了44份租約，佔地21.2萬平方英尺，混合利差爲7.8％。
出售了超過300英畝的土地運營板塊，超過了2024年的目標，創造了近790萬美元的營業利潤。
該公司繼續優先出售剩餘的非核心資產。
預計2024年第二季度地面租賃NOI增長將略有負增長，今年剩餘時間將持平。
該公司計劃在2025年第一季度出售的300英畝土地中的大部分，這有助於提高2024年土地運營每股FFO的預測。
由於第一季度商業地產（CRE）表現強於預期，預計歸屬於CRE和企業的每股FFO將增加。
由於租戶遷離，辦公物業將在今年晚些時候進行重新定位。
該公司認爲土地運營的機會和非核心土地銷售仍然是當務之急。
More details: Alexander & Baldwin Inc IR
更多詳情： 亞歷山大和鮑德溫公司投資者關係
Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.
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譯文內容由第三人軟體翻譯。