Alexander & Baldwin (NYSE: ALEX) reported Q4 EPS of $4.31, which includes items and does not compare to the analyst estimate of $0.02. Revenue for the quarter came in at $122.7 million versus the consensus estimate of $117.27 million.

• Fourth quarter and full-year 2017 basic EPS from continuing operations available to A&B shareholders were $4.31 and $4.63 per share, respectively. Both periods included income tax adjustments of $4.47 per share. In addition, fourth quarter and full-year 2017 basic EPS were each reduced by $0.33 per share as a result of impairments related to three mainland commercial properties that were classified as held for sale at the end of 2017, partially offset by a gain on a mainland commercial property sold during the fourth quarter 2017. Proceeds from the sales of these mainland commercial properties will be used in the financing of the Terramar Hawai`i asset acquisition ("TRC Asset Acquisition").
• In the first quarter of 2018, the Company completed a Special Distribution totaling $783.0 million, or approximately $15.92 per share, comprising $626.4 million of stock, and $156.6 million of cash. The 22.6 million shares of stock distributed was determined using a volume weighted average share price of $27.73 per share during the January 16 to January 18, 2018 period. As of February 27, 2018, the Company had 72.0 million shares outstanding.

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