Alexander & Baldwin Inc. (ALEX) reported first-quarter net income of $3.8 million or $0.09 per share, compared to $5.2 million or $0.12 per share in the previous year quarter.
Excluding items, adjusted earnings for the quarter was $7.2 million or $0.17 per share, down from $13.2 million or $0.32 per share in the comparable quarter last year. On average, five Street analysts expected the company to earn $0.15 per share for the quarter. Analysts' estimates typically excludes special items.
Revenue for the quarter was $405.0 million, up from $373.3 million in the prior year, while two analysts had a consensus revenue estimate of $384.95 million.
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