Alexanders Inc Releases Second Quarter 2024 Financial Results
Intellectia.AI Updated: 2024-08-06
Alexander’s Inc. Releases Second Quarter 2024 Financial Results
Alexander’s Inc. (NYSE: ALX) has reported its financial results for the second quarter ending June 30, 2024.
Key Financial Metrics
| Metric | Q2 2024 | Q2 2023 | Q1 2024 | YoY Change | QoQ Change |
|---|---|---|---|---|---|
| Total Revenue | $53.39M | $53.67M | $61.40M | -0.52% | -13.05% |
| Earnings Per Share (EPS) | $1.63 | $12.51* | $3.14 | -86.98%** | -48.09% |
Includes a significant gain from the sale of the Rego Park III land parcel.
*The notable decline in EPS is primarily due to the absence of this gain in Q2 2024.
Interpretation : Alexander’s Inc. experienced a slight year-over-year decrease in total revenue for the second quarter of 2024. The substantial year-over-year decline in earnings per share is attributed to a significant gain realized in Q2 2023 from the sale of a property.
Revenue Breakdown by Segment
| Segment | Q2 2024 Revenue | Q2 2023 Revenue |
|---|---|---|
| Bloomberg L.P. Lease | $30.47M* | $30.00M |
| Other Rental Revenue | Not Provided | Not Provided |
| Total | $53.39M | $53.67M |
*Includes $1.16M of higher straight-line rental revenue from Bloomberg’s lease extension.
Interpretation : The revenue performance from the lease with Bloomberg L.P. remained stable, slightly increasing due to the extended lease terms.
Key Operational Data
- No operational data was provided in the earnings release.
Comments from Company's Officers
The company’s officers did not provide specific comments in the report.
Dividends and Share Repurchase Program
- No information on announced dividends or share repurchase programs was provided in the earnings release.
Forward Guidance
The earnings release did not provide any forward guidance or specific financial outlook for future quarters.
Stock Price Movement
After the earnings release, Alexander’s Inc. experienced a stock price decline of -0.41%.
The data provided in this summary is extracted from the recent earnings release by Alexander’s Inc. and interpreted based on the financial details reported. For further details, shareholders and interested stakeholders should refer to the full 10-Q document.