Alexander & Baldwin Expects 2024 Adjusted FFO Per Share Of $0.80-$0.90; Est $1.15
Portfolio Pulse from Benzinga Newsdesk
Alexander & Baldwin (ALEX) projects its 2024 Adjusted Funds From Operations (FFO) per share to be in the range of $0.80-$0.90, which is below the estimated $1.15. The company also announced a shift in its reporting metric from Core FFO to Adjusted FFO starting in 2024.
February 28, 2024 | 10:40 pm
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Alexander & Baldwin projects a lower-than-expected Adjusted FFO per share for 2024 and will shift its financial reporting metric.
The projection of Adjusted FFO per share being significantly lower than the estimated $1.15 suggests a negative outlook on the company's financial performance for 2024. This, combined with the change in financial reporting metric, could lead to uncertainty among investors, potentially impacting the stock price negatively in the short term.
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