What drove ALX's EPS growth in Q3 2024?

Alexander's EPS growth in Q3 2024 was driven by a combination of factors, primarily revenue growth and effective cost management. Here's a detailed analysis:

1. **Revenue Growth**: Although specific revenue figures for Q3 2024 are not provided, the fact that Alexander's exceeded EPS expectations in Q2 2024 suggests a strong revenue base that could have supported EPS growth in Q3. Revenue growth, whether sustained or accelerated, typically bolsters EPS by increasing the numerator (net income) in the EPS formula (Diluted EPS = Net Income / Number of Diluted Shares).
2. **Cost Management**: The company's ability to manage costs efficiently also contributes to EPS growth. In Q3 2024, Alexander's maintained a stable EPS of $2.1, which was a result of effective cost management. When a company increases its revenue while keeping costs in check, its net income (and thus EPS) tends to rise.
3. **Funds from Operations**: Alexander's reported funds from operations of $17 million, or $3.31 per share, in Q2 2024. This indicates a healthy financial position, which could have been leveraged to support EPS growth in Q3.

In conclusion, Alexander's EPS growth in Q3 2024 was likely driven by a combination of revenue growth and effective cost management, which together allowed the company to maintain a stable and healthy EPS of $2.1.