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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.
FORT MYERS, Fla., Aug. 09, 2021 (GLOBE NEWSWIRE) -- Alico, Inc. (Nasdaq: ALCO) announced that its CEO John Kiernan and CFO Richard Rallo will present at the Sidoti Microcap Conference on August 18-19, 2021. The presentation is scheduled for 10:00 am ET on August 18 and will be broadcast live on the Investor Relations section of Alico's website. The Company operates Alico Citrus, one of the largest citrus producers in the U.S., along with land management operations.
Alico, Inc. (ALCO) reported strong financial results for Q3 FY 2021, with a net income of approximately $35.8 million, up from $6.5 million YoY. Earnings per diluted share reached $4.77, compared to $0.86 in the previous year. The Company’s average realized price per pound solid increased 31.7% to $2.45. Despite a 15.9% decline in harvested boxes, net cash from operating activities surged 59.1% to about $33.6 million. Alico also raised its quarterly dividend from $0.18 to $0.50 per share and anticipated FY 2021 net income between $33 million and $38.5 million.
Alico, Inc. (Nasdaq: ALCO) announces the upcoming release of its third-quarter financial results for the period ending June 30, 2021. The results will be disclosed on August 5, 2021, before the market opens. A conference call will follow at 8:30 AM EDT to discuss the results, with dial-in options provided for both domestic and international participants. A live webcast will also be available on the company’s investor relations website. This quarter highlights Alico's ongoing role as a major player in the citrus industry.
Alico, Inc. (Nasdaq: ALCO) announced that President and CEO John Kiernan, along with CFO Richard Rallo, will present at the Sidoti Small Cap Investor Conference on June 23-24, 2021. Their presentation is scheduled for 10:45 am ET on June 23. The event will be held virtually, and Alico will also conduct one-on-one and small group meetings. A live broadcast of the presentation will be accessible through the Investor Relations section of Alico's website.
Alico operates primarily in citrus production and land management.
Alico, Inc. (Nasdaq: ALCO) will be participating in the Oppenheimer 21st Annual Consumer Growth and E-Commerce Conference on June 15-16, 2021. President and CEO John Kiernan and CFO Richard Rallo will engage in one-on-one and small group meetings at the virtual event. Interested parties are encouraged to contact Oppenheimer's sales representatives for scheduling. Alico operates in two main divisions: Alico Citrus, a leading citrus producer, and Land Management, which includes leasing and support operations.
Alico, Inc. (Nasdaq: ALCO) announced that its President and CEO, John Kiernan, and CFO, Richard Rallo, will present at the 16th Annual BMO Farm to Market Conference. The presentation is set for 1:40 pm ET on May 20, 2021. In addition to the presentation, Alico will engage in virtual one-on-one and small group meetings. Investors can access a live broadcast of the presentation via the company’s Investor Relations website, with a replay available for 90 days.
Alico primarily operates in citrus production and land management.
Alico, Inc. (Nasdaq: ALCO) reported strong financial results for the second quarter of fiscal 2021, achieving net income of $8.7 million, or $1.16 per diluted share, up 99.7% year-over-year. The increase was driven by higher revenue from increased prices per pound solids. However, production and average pound solids per box declined significantly. The company modified its debt with Metlife, reducing service costs by $5-$6 million annually. Notable sales include 5,734 acres to Florida for $14.4 million, with ongoing negotiations for an additional 15,000 acres. Updated guidance projects net income between $33 million and $38.5 million.
Alico, Inc. (Nasdaq: ALCO) announced enhancements to generate greater shareholder returns. The Alico 2.0 Modernization Program has optimized operations, reducing G&A costs by 19% and planting 1.5 million trees, expected to boost production. Debt modifications decreased interest rates from 4.15% to 3.85%, lowering annual debt service to $5-$6 million. Alico's quarterly dividend has tripled to $0.18, with plans for further increases. The company targets average annual Adjusted EBITDA of $35-$45 million from fiscal 2024 onwards.
Alico, Inc. (Nasdaq: ALCO) will release its second quarter financial results for the period ending March 31, 2021, on May 5, 2021, prior to market opening. A conference call is scheduled for the same day at 8:30 AM EDT to discuss these results. Interested listeners can join via phone or through a live webcast available on the company's Investor Relations website. A replay will be accessible until May 19, 2021.
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