Alexander & Baldwin Inc. Q3 Profit Declines 34%

(RTTNews) - Alexander & Baldwin Inc. (AXB) announced earnings for third quarter that dropped from last year.

The company said its earnings dropped to $6.7 million, or $0.11 per share. This was lower than $10.2 million, or $0.21 per share, in last year's third quarter.

Analysts had expected the company to earn $0.20 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 5.7% to $144.7 million. This was down from $153.4 million last year.

Alexander & Baldwin Inc. earnings at a glance:

-Earnings (Q3): $6.7 Mln. vs. $10.2 Mln. last year. -Earnings Decline (Y-o-Y): -34.3% -EPS (Q3): $0.11 vs. $0.21 last year. -EPS Decline (Y-o-Y): -47.6% -Analysts Estimate: $0.20 -Revenue (Q3): $144.7 Mln vs. $153.4 Mln last year. -Revenue Change (Y-o-Y): -5.7%