Alexander & Baldwin (NYSE: ALEX) reported Q4 EPS of ($0.07), which may not compare to the analyst estimate of $0.10.

Chris Benjamin, A&B president & chief executive officer stated: "We entered 2019 optimistic about growth in our commercial portfolio and we exceeded expectations on all fronts—from better-than-expected CRE Same-Store Cash NOI to a higher cap rate on the reinvestment of our Maui land sale proceeds into strategic Hawai\'i commercial real estate assets. Our deep market knowledge, close relationships, and reputation forged over 150 years in Hawai\'i were keys to our success in becoming the premier Hawai\'i-focused commercial real estate company. During 2019, we grew total portfolio CRE Cash NOI by 20.9% year-over-year to more than $100 million, and our portfolio continues to produce excellent results, finishing 2019 with 7.9% full-year re-leasing spreads, and 5.2% full-year CRE Same-Store Cash NOI growth."

"Further, efforts to simplify our business model and reduce debt levels progressed during the year. We closed out sales of two development-for-sale projects, Kamalani and Kahala, and realized improved sales results at both Maui Business Park II and Kukui\'ula. The monetization of these development projects supported debt reduction of $73.5 million, making further progress on another of our key strategic goals."

"While we are proud of these accomplishments, our efforts to transform and simplify our company remain ongoing. The significant challenges faced by Grace Pacific in 2019 showed signs of subsiding as cost-reduction and operational improvement initiatives produced modestly positive EBITDA during the fourth quarter. As we look ahead to 2020, we expect continued solid performance from our commercial portfolio and additional progress in the monetization of non-core assets. These actions will help further simplify our business and strengthen our balance sheet, which should result in increased shareholder value over the long term."

For earnings history and earnings-related data on Alexander & Baldwin (ALEX) click here.