Alexander & Baldwin
The 10-second takeaway
For the quarter ended March 31 (Q1), Alexander & Baldwin beat expectations on revenues and earnings per share.
Compared to the prior-year quarter, revenue was unchanged and GAAP earnings per share dropped significantly.
Margins dropped across the board.
Alexander & Baldwin tallied revenue of $405.0 million. The three analysts polled by S&P Capital IQ expected revenue of $396.8 million on the same basis. GAAP reported sales were 8.5% higher than the prior-year quarter's $373.3 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.17. The four earnings estimates compiled by S&P Capital IQ averaged $0.14 per share. GAAP EPS of $0.09 for Q1 were 31% lower than the prior-year quarter's $0.13 per share. (The prior-year quarter included -$0.09 per share in earnings from discontinued operations.)
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 13.5%, 60 basis points worse than the prior-year quarter. Operating margin was 3.8%, 20 basis points worse than the prior-year quarter. Net margin was 0.9%, 50 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $469.0 million. On the bottom line, the average EPS estimate is $0.43.
Next year's average estimate for revenue is $1.85 billion. The average EPS estimate is $1.75.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 135 members out of 152 rating the stock outperform, and 17 members rating it underperform. Among 45 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 42 give Alexander & Baldwin a green thumbs-up, and three give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Alexander & Baldwin is outperform, with an average price target of $55.67.
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Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.