Alexander & Baldwin Q3 Profit Rises

(RTTNews) - Alexander & Baldwin, Inc. (ALEX) Thursday reported third-quarter net income of $19.0 million or $0.26 per share, compared to $14.6 million or $0.20 per share last year.

FFO for the quarter were $28.2 million or $0.39 per share, compared to $21.2 million or $0.29 per share last year.

Adjusted FFO for the third quarter were $23.4 million or $0.32 per share, compared to $17.4 million or $0.24 per share in the same quarter last year.

Total operating revenues rose to $61.9 million from $52.5 million last year.

Looking forward to the full year, the company now expects earnings per share of $0.74 to $0.82, FFO per share of $1.27 to $1.35 and adjusted FFO per share of $1.05 to $1.12.

Previously, the company expected earnings per share of $0.64 to $0.73, FFO per share of $1.17 to $1.26 and adjusted FFO per share of $0.99 to $1.08.