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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. (ALCO) reported a net income of $23.7 million and EBITDA of $51.8 million for fiscal year 2020, but adjusted net loss of $1.2 million reflects market challenges. The company harvested approximately 7.6 million boxes, down 6.6%. Citrus prices fell significantly, reducing earnings per diluted share from $5.05 to $3.16 year-over-year. Alico's ongoing land transactions and a 100% dividend increase to $0.18 per share signal a strategic focus on growth. For fiscal 2021, Alico projects net income between $7.5 million and $10 million, with EBITDA guidance of $29 million to $33 million.
Alico (Nasdaq: ALCO) announced participation in the Roth Virtual Deer Valley Consumer Event from December 9-11, 2020. John Kiernan, President and CEO, will engage in virtual meetings on December 11. Interested parties can arrange meetings through their Roth sales representatives.
Alico, primarily involved in citrus production and water resource management, is one of the largest citrus producers in the U.S. For further details, visit www.alicoinc.com.
Alico, Inc. (Nasdaq: ALCO) plans to release its financial results for Q4 and the full year ending September 30, 2020, on December 8, 2020, before market open. The company will hold a conference call at 8:30 AM ET to discuss these results. Interested participants can join via phone or access a live webcast through their Investor Relations webpage. This marks an important opportunity for investors to assess Alico's performance and outlook. Alico operates primarily in citrus production and water resources, two critical sectors for its business.
Alico, Inc. (Nasdaq: ALCO) announced that CEO John Kiernan will present at two virtual investor conferences in November. The Stephens Annual Investment Conference is scheduled for November 18, 2020, with a fireside chat at 8:00 am ET, alongside virtual one-on-one meetings. The Sidoti Microcap Conference will take place on November 19, 2020, at 10:00 am ET, also featuring virtual meetings. Live broadcasts will be accessible via the Investor Relations section on Alico's website.
Alico, Inc. (Nasdaq: ALCO) announced the acquisition of approximately 3,280 gross citrus acres in Hendry County on October 30, 2020, for $16.45 million. This acquisition enhances Alico's existing 45,000 gross citrus acres, positioning it as a low-cost, high-producing citrus grower. The purchase utilized a like-kind exchange structure, deferring $4.0 million in taxes from a prior land sale. Alico operates primarily in citrus production and water resources, reaffirming its commitment to long-term leadership in the citrus industry.
Alico, Inc. has announced the sale of approximately 10,702 acres of Alico Ranch to the State of Florida for $28.5 million as part of the Florida Forever program. This sale is the second transaction between Alico and the State, totaling over 16,000 acres. The proceeds from this sale will be evaluated for strategic acquisitions, a potential increase in common share dividends, or land acquisitions. However, Alico has decided to halt its permit approval activities for the Alico Northern Everglades project due to the sale, yet remains committed to preserving Florida’s water resources.
FORT MYERS, Fla., Sept. 01, 2020 – Alico, Inc. (Nasdaq: ALCO) announced that its President and CEO, John Kiernan, will participate in one-on-one meetings during the Citi Virtual Growth Conference on September 18, 2020. Investors interested in scheduling a meeting should contact their Citi sales representative. Alico operates two main divisions: Alico Citrus, a major citrus producer, and Alico Water Resources, which focuses on water storage and environmental services.
Alico, Inc. (Nasdaq: ALCO) reported financial results for Q3 and the nine months ending June 30, 2020. Net income was $6.5 million, down 69.7% year-over-year, with earnings of $0.86 per diluted share. The decline was due to lower citrus prices and reduced box production. Alico has secured long-term Citrus supply agreements, providing better pricing through 2024. The company is projecting net income of $22-24 million and EBITDA of $49.5-52.5 million for fiscal 2020. Operationally, COVID-19 did not adversely affect business, and the recent appointment of new Board members aims to enhance strategic growth.
Alico, Inc. (Nasdaq: ALCO) has appointed two new members, Kate English and Adam Putnam, to its Board of Directors. English will join the Compensation Committee and Nominating and Governance Committee, while Putnam will serve on the Audit Committee and Nominating and Governance Committee. This expansion increases the board to nine members. Both appointees bring significant agricultural and land expertise, enhancing Alico's strategic leadership. Alico operates primarily in citrus production and water resources, aiming to drive profitability and shareholder value.
Alico, Inc. (Nasdaq: ALCO) announced today that CEO John Kiernan will participate in one-on-one meetings at the Oppenheimer 20th Annual Consumer Growth and E-Commerce Conference, scheduled for June 16-17, 2020. The conference will be held virtually, and interested parties can schedule meetings through Oppenheimer sales representatives. Alico is recognized for its dual operations: Alico Citrus, a major citrus producer, and Alico Water Resources, focusing on water storage and environmental services. For further details, visit www.alicoinc.com.
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