Welcome to our dedicated page for Alico news (Ticker: ALCO), a resource for investors and traders seeking the latest updates and insights on Alico stock.
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 on December 6, 2022, a delay in reporting its financial results for the period ending September 30, 2022, due to the need for further evaluation of its Deferred Tax Liability. This review may impact prior fiscal years, potentially adjusting the Deferred Tax Liability and Retained Earnings. While a filing extension for its Form 10-K is uncertain, the company remains optimistic about completing its evaluation before the deadline. Alico operates two divisions: Alico Citrus and Land Management.
Alico, Inc. (Nasdaq: ALCO) has announced the postponement of its 2022 Year-end Earnings Call, originally scheduled for December 6, 2022, at 8:30 AM. The delay is due to the need for additional time to complete the audit of its financial results for the period ending September 30, 2022, by its independent registered public accounting firm.
Alico, Inc. (Nasdaq: ALCO) will announce its financial results for Q4 and full year 2022 on December 6, 2022, prior to market open. A conference call will be held at 8:30 AM ET to discuss these results, with participation available through specified U.S. and international numbers. A playback of the call will be available shortly after it concludes, lasting until December 20, 2022. Alico operates primarily in citrus production and land management. For more details, visit the company’s website.
Alico, Inc. remains resilient following Hurricane Ian, with no employee casualties reported. The company is currently assessing damage across its 48,900 acres of citrus groves in Southwest Florida. Initial inspections suggest significant fruit drop but most trees remain intact. Alico’s crop insurance will cover any catastrophic losses, limiting financial impact. The company expects production recovery to take at least two seasons. Alico maintains a strong balance sheet with $89 million in undrawn credit. It will continue fulfilling contracts with major brands during the upcoming harvest season.
Alico, Inc. (NASDAQ: ALCO) announced the appointment of Perry G. Del Vecchio as Chief Financial Officer effective September 6, 2022. He brings 25 years of experience, including roles at a Fortune 500 company, enhancing Alico's financial management. Del Vecchio will oversee finance, treasury, and accounting, reporting to CEO John Kiernan. His expertise is expected to support Alico's strategy in the Florida citrus industry and increase shareholder value. The company operates primarily through Alico Citrus and Land Management divisions.
Alico, Inc. (Nasdaq: ALCO) reported disappointing financial results for Q3 2022, with net income falling to $2.7 million, a 90% drop from $27.1 million in Q3 2021. The decline is attributed to lower citrus production due to a freeze event and increased costs, leading to an adjusted net loss of $0.39 per diluted share. The company revised its FY 2022 guidance, projecting net income between $30.7 million and $33.3 million, down from previous estimates. Despite these challenges, Alico's balance sheet remains robust with a working capital ratio of 2.47. Recent ranch land sales averaged $5,000 per acre.
Alico, Inc. (Nasdaq: ALCO) will release its financial results for Q3 2022 on August 3, 2022, at 4:30 PM EDT. A conference call will follow the announcement for financial discussions, accessible at (888) 414-4463 in the U.S. and (646) 960-0375 internationally, using participant ID 9291358. A replay will be available shortly after the call until August 17, 2022. Alico operates primarily in citrus production and land management, reinforcing its position as a leading citrus producer in the U.S.
FORT MYERS, Fla., June 06, 2022 (GLOBE NEWSWIRE) -- Alico, Inc. (Nasdaq: ALCO) announced that its President and CEO, John Kiernan, will present at the Sidoti Small Cap Conference on June 15-16, 2022. The presentation is scheduled for 8:30 am ET on June 15 and will be accessible via a live broadcast in the Investor Relations section of Alico’s website. Alico operates two main divisions: Alico Citrus, a leading citrus producer, and Land Management and Other Operations, which includes land leasing services.
Alico reported strong financial results for Q2 FY2022, with net income of $30.8 million, or $4.08 per diluted share, compared to $8.7 million, or $1.16 per share, in the prior year. The increase was driven by gains from real estate sales and a tax benefit. However, box production fell by 14.2%, and revenue declined due to lower citrus output caused by a freeze event and increased production costs. EBITDA reached $43.6 million, up from $21.4 million, but adjusted EBITDA dropped to $7.7 million. The company projects FY2022 net income between $35.6 million and $38.9 million.
FORT MYERS, Fla., May 04, 2022 - Alico, Inc. (Nasdaq: ALCO) announced its participation in the Sidoti Microcap Conference, scheduled for May 11-12, 2022. The presentation will be led by President and CEO John Kiernan, along with CFO Richard Rallo, starting at 12:15 pm ET on May 11. Attendees can access the live broadcast via the Investor Relations section of Alico’s website. Alico operates two main divisions: Alico Citrus, a leading citrus producer, and Land Management and Other Operations.
FAQ
What is the current stock price of Alico (ALCO)?
What is the market cap of Alico (ALCO)?
What are the primary business segments of Alico Inc.?
Who are Alico's major clients?
How has Alico performed financially recently?
What steps is Alico taking to combat citrus greening?
How is Alico managing its land assets?
What recent agreements has Alico secured?
How does Alico ensure financial stability in adverse conditions?
What is Alico's approach to sustainability?
How extensive is Alico’s citrus operation?
What are Alico's future plans?
