Alexander & Baldwin Whiffs on Earnings

Alexander & Baldwin (NYSE: ALEX  ) filed its 10-K on Feb. 28. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Alexander & Baldwin beat expectations on revenues and whiffed on earnings per share.

Compared to the prior-year quarter, revenue was unchanged and GAAP earnings per share shrank significantly.

Margins dropped across the board.

Revenue details
Alexander & Baldwin booked revenue of $460.2 million. The two analysts polled by S&P Capital IQ wanted to see a top line of $433.8 million on the same basis. GAAP reported sales were 5.0% higher than the prior-year quarter's $438.0 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
Non-GAAP EPS came in at $0.11. The three earnings estimates compiled by S&P Capital IQ predicted $0.25 per share on the same basis. GAAP EPS of $0.03 for Q4 were 94% lower than the prior-year quarter's $0.49 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
For the quarter, gross margin was 13.2%, 360 basis points worse than the prior-year quarter. Operating margin was 4.3%, 290 basis points worse than the prior-year quarter. Net margin was 0.3%, 430 basis points worse than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $391.9 million. On the bottom line, the average EPS estimate is $0.13.

Next year's average estimate for revenue is $1.80 billion. The average EPS estimate is $1.70.

Investor sentiment
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 135 members out of 153 rating the stock outperform, and 18 members rating it underperform. Among 49 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 43 give Alexander & Baldwin a green thumbs-up, and six 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 $50.00.

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