Alexander & Baldwin Provides First Quarter 2011 Earnings Outlook
2011年3月18日 - 10:00PM
ビジネスワイヤ(英語)
Alexander & Baldwin, Inc. (NYSE:ALEX) announced today that
the recent surge in global fuel prices related to the unprecedented
unrest in the Middle East and North Africa is negatively impacting
Matson Navigation Company’s financial results, and that Matson is
expected to post an operating loss for the first quarter of 2011.
Alexander & Baldwin's Real Estate and Agribusiness segments are
performing as expected and continue to have a positive outlook for
the year. A&B's consolidated first quarter 2011 net income is
expected to approximate break-even.
“Increased fuel prices are having a disproportionate effect on
transportation companies as fuel is an unavoidable and significant
component of operating costs. Matson’s ability to employ fuel price
adjustment mechanisms to limit the impact of price fluctuations on
its first quarter earnings has been outpaced by the steep
acceleration in fuel prices,” said Stanley M. Kuriyama, A&B
president and chief executive officer. “We expect to recoup a large
percentage of fuel cost increases through surcharge mechanisms in
2011; however, an environment of continually escalating fuel costs
could impair timely recovery of these costs and further impact
financial results.”
“We are carefully monitoring the impact of fuel, as well as the
ongoing freight-rate environment in China, where spot-market
container rates are relatively soft. We expect to have more clarity
on China rates with the commencement of the new annual contract
cycle in May and the beginning of the peak season this
summer,” Kuriyama continued. “In addition, we are paying close
attention to the potential impacts of the recent tragic events in
Japan on the Hawaii and Mainland economies, and how that may affect
our businesses. There was no damage to A&B’s assets following
the Pacific tsunami triggered by the earthquake. An update of our
full-year outlook, including an assessment of the impact of the
factors described above, will be provided on our first quarter
earnings call.”
Alexander & Baldwin, Inc., headquartered in Honolulu,
Hawaii, is engaged in ocean transportation and logistics services
through its subsidiaries, Matson Navigation Company, Inc. and
Matson Integrated Logistics, Inc.; in real estate, through A&B
Properties, Inc.; and in agribusiness, through Hawaiian Commercial
& Sugar Company and Kauai Coffee Company, Inc. Additional
information about A&B may be found at its web site:
www.alexanderbaldwin.com
Statements in this press release that are not historical facts
are "forward-looking statements," within the meaning of the Private
Securities Litigation Reform Act of 1995, that involve a number of
risks and uncertainties that could cause actual results to differ
materially from those contemplated by the relevant forward-looking
statement. These forward-looking statements are not guarantees of
future performance. This release should be read in conjunction with
our Annual Report on Form 10-K and our other filings with the SEC
through the date of this release, which identify important factors
that could affect the forward-looking statements in this
release.
Alexander and Baldwin (NYSE:ALEX)
過去 株価チャート
から 6 2024 まで 7 2024
Alexander and Baldwin (NYSE:ALEX)
過去 株価チャート
から 7 2023 まで 7 2024