Alexander’s Announces Second Quarter Financial Results

Financial Results Summary - Alexander's, Inc. reported a net income of $6.1 million, or $1.19 per diluted share for Q2 2025, a decrease from $8.4 million, or $1.63 per diluted share in Q2 2024 [1][7] - Funds from operations (FFO) for Q2 2025 was $14.8 million, or $2.88 per diluted share, down from $17.0 million, or $3.31 per diluted share in Q2 2024 [2][7] - For the six months ended June 30, 2025, net income was $18.4 million, or $3.59 per diluted share, compared to $24.5 million, or $4.77 per diluted share for the same period in 2024 [3][11] - FFO for the six months ended June 30, 2025 was $35.6 million, or $6.93 per diluted share, down from $42.5 million, or $8.29 per diluted share in the prior year [3][11] Revenue Analysis - Total revenues for Q2 2025 were $51.6 million, a decline from $53.4 million in Q2 2024 [7] - Revenues for the six months ended June 30, 2025 were $106.5 million, compared to $114.8 million for the same period in 2024 [11] Shareholder Metrics - The weighted average shares outstanding for Q2 2025 were 5,134,599, slightly up from 5,131,902 in Q2 2024 [7] - For the six months ended June 30, 2025, the weighted average shares outstanding were 5,134,069, compared to 5,131,290 in the same period of 2024 [11] FFO Reconciliation - The reconciliation of net income to FFO for Q2 2025 shows net income of $6.1 million adjusted for depreciation and amortization of $8.6 million, resulting in FFO of $14.8 million [8] - For the six months ended June 30, 2025, net income of $18.4 million was adjusted for depreciation and amortization of $17.2 million, leading to FFO of $35.6 million [11]