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Alico Inc. (Nasdaq: ALCO) is a renowned Florida-based agribusiness and land management company known for its extensive expertise and innovative practices in citrus production, sugarcane cultivation, cattle raising, and resource conservation. The company's operations are managed through two primary segments: Alico Citrus and Land Management and Other Operations.
The Alico Citrus division is a significant contributor to the firm's revenue, focusing on the cultivation and delivery of citrus fruits, particularly Hamlin and Valencia oranges, to both processed and fresh citrus markets. Alico's partnership with major juice processors like Tropicana underscores its pivotal role in the citrus industry.
The Land Management and Other Operations segment diversifies Alico's revenue streams through land leasing for recreational, conservation, and mining activities. Alico has also been actively engaged in strategic land sales, optimizing the use of its vast land holdings.
Among its recent achievements, Alico reported a net income of $42.9 million for the first fiscal quarter ending December 31, 2023, primarily driven by a significant land sale to the State of Florida. The company has also secured a new supply agreement with Tropicana, ensuring a steady and profitable relationship through July 2027 at favorable pricing terms.
Despite challenges such as hurricanes and citrus greening, Alico has demonstrated resilience, leveraging insurance proceeds and federal relief to maintain strong financial health. As of March 31, 2024, Alico reported a robust balance sheet with a working capital ratio of 2.55 to 1.00 and substantial available credit.
Alico's commitment to sustainability and innovation is evident in its ongoing application of Oxytetracycline (OTC) treatments to combat citrus greening and improve fruit quality. The company's strategic initiatives, including new farming leases and land sales, reflect its adaptive approach to maximizing shareholder value.
With over 125 years of experience, Alico continues to be a leader in Florida agriculture, constantly evaluating its real estate portfolio for the highest and best use, ensuring long-term growth and stability for its investors.
Alico, Inc. (Nasdaq: ALCO) announced the release of its financial results for the second quarter ended March 31, 2023, scheduled for May 4, 2023, before market open. A conference call will follow at 8:30 AM ET on the same day to discuss these results. Interested participants can join the call by dialing 1-888-886-7786 (U.S.) or 1-416-764-8658 (international), using the participant ID 10649055. A replay will be available approximately three hours after the call, lasting until May 18, 2023.
Alico operates two main divisions: Alico Citrus, a leading citrus producer, and Alico Land Management, which includes environmental services and land leasing. Further details can be found on their website.
Alico, Inc. (ALCO) reported a net loss of $3.2 million for the fiscal quarter ending December 31, 2022, a significant decline from a net income of $10.1 million in the same period last year. Adjusted EBITDA for this quarter was negative $3.4 million, compared to positive $2.4 million in the prior year. The company sold approximately 609 acres for $3.3 million but anticipates lower production and revenue due to Hurricane Ian's adverse effects. Working capital remains strong at $27.3 million, with a 3.67 to 1.00 ratio, despite rising operating costs. Alico paid a cash dividend of $0.05 per share on January 13, 2023.
Alico, Inc. (Nasdaq: ALCO) will announce its financial results for the first quarter ending December 31, 2022, on February 6, 2023, before market opening. A conference call to discuss these results will follow at 8:30 AM Eastern Time on the same day. Interested participants can join by calling 1-877-407-0792 (U.S.) or 1-201-689-8263 (international) with the participant ID 13735632. A replay of the call will be available shortly after the conclusion until February 20, 2023. Alico operates divisions in citrus production and land management, positioning itself as a significant player in these sectors.
Alico, Inc. (Nasdaq: ALCO) reported fiscal year 2022 results, showing net income of $12.5 million and EBITDA of $32.1 million. Adjusted net loss was $1.6 million, primarily due to $23 million in losses from Hurricane Ian. The company sold 9,400 acres of Alico Ranch for $41.9 million, returning $15 million to shareholders. However, income decreased significantly compared to the prior year, attributed to weather impacts and lower citrus production, with earnings per share dropping to $1.65 from $4.64. Alico has not provided guidance for fiscal 2023 due to ongoing uncertainties.
Alico, Inc. (Nasdaq: ALCO) will announce its financial results for Q4 and the full year ending September 30, 2022, on December 13, 2022, after market close. A conference call will be held to discuss these results at 4:30 PM Eastern Time on the same day. Interested participants can join the call by dialing 1-877-407-0792 in the U.S. or 1-201-689-8263 internationally. A replay will be available after the call until December 27, 2022. Alico operates primarily in citrus production and land management.
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