$ALX
ALEXANDERS INC

2024 Q1 Form 10-Q Financial Statement

#000000349924000015 Filed on May 06, 2024

View on sec.gov

Income Statement

Concept 2024 Q1
Revenue $61.40M
YoY Change 15.97%
Cost Of Revenue $25.87M
YoY Change 1.25%
Gross Profit $35.52M
YoY Change 29.71%
Gross Profit Margin 57.86%
Selling, General & Admin $866.0K
YoY Change 15.62%
% of Gross Profit 2.44%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $9.917M
YoY Change 25.55%
% of Gross Profit 27.92%
Operating Expenses $36.22M
YoY Change 7.21%
Operating Profit -$692.0K
YoY Change -89.18%
Interest Expense -$9.072M
YoY Change 14.34%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $16.11M
YoY Change 43.5%
Income Tax
% Of Pretax Income
Net Earnings $16.11M
YoY Change 43.5%
Net Earnings / Revenue 26.24%
Basic Earnings Per Share $3.14
Diluted Earnings Per Share $3.14
COMMON SHARES
Basic Shares Outstanding 5.107M shares
Diluted Shares Outstanding 5.131M shares

Balance Sheet

Concept 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $526.3M
YoY Change 47.64%
Cash & Equivalents $526.3M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $5.729M
Other Receivables $115.5M
Total Short-Term Assets $647.6M
YoY Change 32.81%
LONG-TERM ASSETS
Property, Plant & Equipment $646.0M
YoY Change -3.5%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $44.43M
YoY Change -27.89%
Total Long-Term Assets $743.7M
YoY Change -16.45%
TOTAL ASSETS
Total Short-Term Assets $647.6M
Total Long-Term Assets $743.7M
Total Assets $1.391B
YoY Change 0.98%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $46.59M
YoY Change 6.11%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $47.08M
YoY Change 5.61%
LONG-TERM LIABILITIES
Long-Term Debt $1.093B
YoY Change 0.14%
Other Long-Term Liabilities $21.10M
YoY Change 1.8%
Total Long-Term Liabilities $1.114B
YoY Change 0.17%
TOTAL LIABILITIES
Total Short-Term Liabilities $47.08M
Total Long-Term Liabilities $1.114B
Total Liabilities $1.161B
YoY Change 0.38%
SHAREHOLDERS EQUITY
Retained Earnings $175.4M
YoY Change 9.33%
Common Stock $5.173M
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $230.1M
YoY Change
Total Liabilities & Shareholders Equity $1.391B
YoY Change 0.98%

Cashflow Statement

Concept 2024 Q1
OPERATING ACTIVITIES
Net Income $16.11M
YoY Change 43.5%
Depreciation, Depletion And Amortization $9.917M
YoY Change 25.55%
Cash From Operating Activities $16.83M
YoY Change -18.86%
INVESTING ACTIVITIES
Capital Expenditures $2.475M
YoY Change 20.15%
Acquisitions
YoY Change
Other Investing Activities $3.160M
YoY Change -98.11%
Cash From Investing Activities $685.0K
YoY Change -99.58%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$23.09M
YoY Change -0.1%
NET CHANGE
Cash From Operating Activities $16.83M
Cash From Investing Activities $685.0K
Cash From Financing Activities -$23.09M
Net Change In Cash -$5.578M
YoY Change -103.43%
FREE CASH FLOW
Cash From Operating Activities $16.83M
Capital Expenditures $2.475M
Free Cash Flow $14.35M
YoY Change -23.16%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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CY2023Q1 us-gaap Net Income Loss
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CY2024Q1 us-gaap Straight Line Rent
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CY2023Q1 alx Interest Rate Cap Premium Amortization
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CY2024Q1 alx Noncash Or Part Noncash Reclassification Asset Held For Sale
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CY2024Q1 us-gaap Nature Of Operations
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<span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:28.5pt">Organization</span><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Alexander’s, Inc. (NYSE: ALX) is a real estate investment trust (“REIT”), incorporated in Delaware, engaged in leasing, managing, developing and redeveloping its properties. All references to “we,” “us,” “our,” “Company” and “Alexander’s” refer to Alexander’s, Inc. and its consolidated subsidiaries. We are managed by, and our properties are leased and developed by, Vornado Realty Trust (“Vornado”) (NYSE: VNO). We have five properties in New York City.</span></div>
CY2024Q1 us-gaap Number Of Real Estate Properties
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CY2024Q1 us-gaap Basis Of Accounting
BasisOfAccounting
<span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:28.5pt">Basis of Presentation</span><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">The accompanying consolidated financial statements are unaudited and include the accounts of Alexander’s and its consolidated subsidiaries. All adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations and changes in cash flows have been made. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) have been condensed or omitted. These consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q of the Securities and Exchange Commission (the “SEC”) and should be read in conjunction with the consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2023, as filed with the SEC.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We have made estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates. The results of operations for the three months ended March 31, 2024 are not necessarily indicative of the operating results for the full year.</span></div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We operate in one reportable segment.</span>
CY2024Q1 us-gaap Number Of Reportable Segments
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Revenues
52941000 usd
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CY2024Q1 us-gaap Operating Lease Variable Lease Income
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CY2024Q1 us-gaap Operating Lease Lease Income
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59346000 usd
CY2023Q1 us-gaap Operating Lease Lease Income
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51036000 usd
CY2024Q1 us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
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CY2023Q1 us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
2150000 usd
CY2024Q1 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
18668000 usd
CY2023Q4 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
22608000 usd
CY2024Q1 us-gaap Letters Of Credit Outstanding Amount
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900000 usd
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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0 shares
CY2024Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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0 shares
CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
16109000 usd
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
11226000 usd
CY2024Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
5130678 shares
CY2024Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5130678 shares
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5127086 shares
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
5127086 shares
CY2024Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
3.14
CY2024Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
3.14
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.19
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.19

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