This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Alexander & Baldwin's CEO Discusses Q1 2012 Results - Earnings Call Transcript

Stocks in this article: ALEX

In addition to the regulatory filings, we have increased the amount of financial and non-financial disclosures on our transportation and land businesses, to help investors assess the value and prospects for each of our businesses.

On April 11, in New York City, the A&B and Matson management teams made in depth presentations on their businesses, and we issued an expanded real estate supplement. The presentation materials are available on our website and I encourage you to review them, if you haven't already done so.

Part of the investment thesis for both companies is that Hawaii is at a positive inflection point in the economic cycle. And each company is well-positioned to benefit from an uplift in Hawaii's economy. Recent economic data continues to be positive.

Tourism performed extremely well in the first quarter with arrivals up 9% and expenditures up 14% over last year. Tourism from Japan experienced a strong rebound with March arrivals being the best March in the last five years, and visitors from Korea and China grew by 38% and 24% respectively. The tourism officials now expect that Hawaii will post the best year in the state's history for both visitor arrivals and expenditures.

State unemployment continues to be relatively low at 6.4% and bankruptcy filings declined 21% in the quarter. The Hawaii economy is projected to grow by 2.3% this year and in the mid-to-high 3% range for the next several years.

The Oahu residential real estate market is also performing, with steadily rising home prices and low inventory levels. Based on information released yesterday by the Honolulu Board of Realtors, through April, median home prices on Oahu, have now posted sixth consecutive month of year-over-year increases and the months of inventory declined by 23% from the beginning of the year to 3.7 months.

I'm pleased to report that at our 340-unit Waihonua highrise condominium project near the Ala Moana shopping center, we have to date secured 192 binding sales contract with 10% deposits which should enable us to move forward with construction sometime in the fall.

Read the rest of this transcript for free on seekingalpha.com

3 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,461.32 -153.49 -0.92%
S&P 500 1,927.11 -14.17 -0.73%
NASDAQ 4,382.8470 -36.6310 -0.83%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs