Alexanders (ALX) Reports 1Q Revenue Miss

Alexanders (NYSE: ALX) reported Q1 EPS of $0.89, $2.44 worse than the analyst estimate of $3.33. Revenue for the quarter came in at $54.11 million versus the consensus estimate of $56.2 million.

• Net income for the quarter ended March 31, 2020 was $4.6 million, or $0.89 per diluted share, compared to $17.9 million, or $3.49 per diluted share for the quarter ended March 31, 2019.
• Net income for the quarter ended March 31, 2020 included an expense of $11.4 million, or $2.23 per diluted share, from the change in fair value of marketable securities. For the quarter ended March 31, 2019, the change in fair value of marketable securities was insignificant.
• Funds from operations (“FFO”) (non-GAAP) for the quarter ended March 31, 2020 was $23.7 million, or $4.64 per diluted share, compared to $25.5 million, or $4.99 per diluted share for the quarter ended March 31, 2019.

For earnings history and earnings-related data on Alexanders (ALX) click here.

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