v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Operating Revenue:        
Total operating revenue $ 51,702 $ 51,047 $ 105,440 $ 112,249
Operating Costs and Expenses:        
Selling, general and administrative 7,014 7,252 14,004 14,491
Total operating costs and expenses 35,127 36,938 69,180 74,380
Gain (loss) on commercial real estate transactions 0 0 4,103 0
(Gain) loss on disposal of assets and settlements, net 11,563 2,125 11,756 2,148
Total gain (loss) on commercial real estate transactions and disposal of assets and settlements, net 11,563 2,125 15,859 2,148
Operating Income (Loss) 28,138 16,234 52,119 40,017
Other Income and (Expenses):        
Income (loss) related to joint ventures 2,589 996 5,614 1,694
Interest and other income (expense), net 220 531 271 1,798
Interest expense (5,856) (5,929) (11,658) (11,439)
Income (Loss) from Continuing Operations Before Income Taxes 25,091 11,832 46,346 32,070
Income tax benefit (expense) 60 (99) 99 (99)
Income (Loss) from Continuing Operations 25,151 11,733 46,445 31,971
Income (loss) from discontinued operations, net of income taxes (23) (2,625) 116 (2,881)
Net Income (Loss) $ 25,128 $ 9,108 $ 46,561 $ 29,090
Basic Earnings (Loss) Per Share of Common Stock:        
Continuing operations available to A&B shareholders (in dollars per share) $ 0.35 $ 0.16 $ 0.64 $ 0.44
Discontinued operations available to A&B shareholders (in dollars per share) 0 (0.03) 0 (0.04)
Net income (loss) available to A&B shareholders (in dollars per share) 0.35 0.13 0.64 0.40
Diluted Earnings (Loss) Per Share of Common Stock:        
Continuing operations available to A&B shareholders (in dollars per share) 0.35 0.16 0.64 0.44
Discontinued operations available to A&B shareholders (in dollars per share) 0 (0.03) 0 (0.04)
Net income (loss) available to A&B shareholders (in dollars per share) $ 0.35 $ 0.13 $ 0.64 $ 0.40
Weighted-Average Number of Shares Outstanding:        
Basic (in shares) 72,743 72,615 72,713 72,580
Diluted (in shares) 72,868 72,692 72,842 72,674
Amounts Available to A&B Common Shareholders:        
Continuing operations available to A&B common shareholders $ 25,151 $ 11,729 $ 46,445 $ 31,959
Discontinued operations available to A&B common shareholders (23) (2,625) 116 (2,881)
Net income (loss) available to A&B common shareholders 25,128 9,104 46,561 29,078
Commercial Real Estate        
Operating Revenue:        
Commercial Real Estate 50,731 49,208 101,774 98,096
Operating Costs and Expenses:        
Cost of Commercial Real Estate 26,932 25,134 53,101 50,550
Land Operations        
Operating Revenue:        
Land Operations 971 1,839 3,666 14,153
Operating Costs and Expenses:        
Cost of Land Operations $ 1,181 $ 4,552 $ 2,075 $ 9,339