Welcome to our dedicated page for Maui Land & Pineapple Co. news (Ticker: MLP), a resource for investors and traders seeking the latest updates and insights on Maui Land & Pineapple Co. stock.
Maui Land & Pineapple Company, Inc. (NYSE: MLP) is an esteemed landholding and operating entity centered on agriculture, resort operations, and community development. Situated on the scenic island of Maui, the company oversees approximately 23,000 acres, including the renowned Kapalua Resort and around 2,000 acres dedicated to cultivating the iconic Maui Gold® pineapples.
Maui Land & Pineapple Company is organized into three primary segments:
- Land Development & Sales: This division handles land planning, entitlements, development, and sales activities, playing a crucial role in the region's growth and infrastructure.
- Leasing Operations: Revenue in this segment is predominantly generated through leasing various types of properties, including residential, resort, commercial, agricultural, and industrial land. Lease income is derived from restaurants, retail outlets, office buildings, warehouses, and other resort amenities.
- Resort Amenities: This area manages a membership program providing exclusive benefits and privileges within the Kapalua Resort for its members.
An impressive aspect of ML&P's holdings includes the 8,304-acre Pu'u Kukui Watershed Preserve, the largest private nature reserve in Hawaii, and the 3,307-acre Honolua-Mokule'ia Marine Life Conservation District, both contributing significantly to environmental preservation and biodiversity.
Recent news highlights Maui Land & Pineapple Company's proactive community engagement, particularly in the wake of the devastating wildfires on Maui. The company has been pivotal in mobilizing support and resources for relief efforts, ensuring the safety and welfare of its team, tenants, and community members.
Financially, ML&P has shown resilience, albeit with some challenges. The company reported reduced lease revenues in the third quarter of 2023 due to temporary business closures and decreased sales following the wildfires. Despite this, strategic leadership changes and a focus on maximizing the use of entitled properties suggest a positive outlook.
Noteworthy recent achievements include an 8% year-over-year revenue growth and strategic investments to enhance commercial properties and prepare landholdings for new projects. The company's dedication to innovation, conservation, and community building remains a cornerstone of its operations, promising a sustainable and prosperous future for Maui and its residents.
With over a century of operation, Maui Land & Pineapple Company continues to honor its legacy through careful stewardship of its lands, impacting economic stability, housing supply, and environmental conservation. Learn more about their initiatives and ongoing projects at mauiland.com.
Maui Land & Pineapple (NYSE: MLP) has appointed Race Randle as CEO and Scot Sellers as Chairman, effective April 1, 2023. Randle, a local real estate leader with extensive experience in sustainable community development, replaces Warren Haruki, who will serve as a senior advisor. Randle's notable past includes significant contributions to The Howard Hughes Corporation and a partnership with Google for mixed-use community developments. Sellers, with a 40-year background in real estate, supports Randle’s vision. The transitions aim to foster continued growth and profitability for MLP, enhancing its commitment to Maui's community and environment.
Maui Land & Pineapple Company (NYSE: MLP) reported a net loss of $124,000, or $0.01 per share, for Q3 2022, improved from a loss of $139,000 in Q3 2021. Total operating revenues increased to approximately $2.6 million, up from $2.4 million year-over-year. For the nine months ending September 30, 2022, net income surged to $9.8 million, or $0.50 per share, compared to $0.8 million, or $0.04 per share, in the same period of 2021. Total revenues for this period reached around $18.8 million, significantly higher than $9.4 million previously.
Maui Land & Pineapple Company (NYSE: MLP) reported a substantial net income of $10.5 million ($0.54 per share) for Q2 2022, up from $1.9 million ($0.10 per share) in Q2 2021. Total operating revenues grew to approximately $14.0 million from $5.0 million year-over-year. For the first half of 2022, net income reached $9.9 million ($0.51 per share), compared to $0.9 million ($0.05 per share) in the same period last year. The company finalized the sale of 646 acres in Upcountry Maui for $9.6 million in May 2022, bolstering its revenue stream.
Maui Land & Pineapple Company (MLP) reported a net loss of $618,000 or $(0.03) per share for Q1 2022, an improvement from a net loss of $934,000 or $(0.05) per share in Q1 2021. Total operating revenues increased to $2.25 million from $2.06 million year-over-year. The company had no real estate asset sales during this period. Current assets rose to $12.75 million, while total assets grew to $40.23 million. Liabilities also increased, totaling $16.60 million, impacting the overall equity standing of the company.
Maui Land & Pineapple Company (NYSE: MLP) reported a net loss of $(3.4) million, or $(0.18) per share, for the year ended December 31, 2021, up from a loss of $(2.6) million, or $(0.14) per share in 2020. Operating revenues rose to $12.4 million from $7.5 million. Comprehensive income turned positive at $2.6 million, compared to a loss of $(3.5) million in 2020. Notable was a pension gain adjustment of $6.0 million, significantly improving financial metrics. In Q4 2021, the company recorded a net loss of $(4.2) million, while revenues increased to $3.0 million from $2.1 million in Q4 2020.
Maui Land & Pineapple Company (NYSE: MLP) reported a net loss of $0.1 million, or $(0.01) per share, for Q3 2021, an improvement from a net loss of $0.6 million, or $(0.03) per share, in Q3 2020. Total operating revenues rose to $2.4 million from $1.7 million year-over-year. For the first nine months of 2021, the company achieved a net income of $0.8 million, or $0.04 per share, compared to a net loss of $1.9 million, or $(0.10) per share, in the same period of 2020. Total operating revenues for this period increased to $9.4 million from $5.4 million.
Maui Land & Pineapple Company (NYSE: MLP) reported a net income of $1.9 million ($0.10 per share) for Q2 2021, contrasting with a net loss of $0.2 million ($0.01 per share) in Q2 2020. Total operating revenues increased to $5.0 million from $1.7 million year-over-year. For the first half of 2021, net income was $0.9 million ($0.05 per share), compared to a loss of $1.2 million ($0.06 per share) in the same period of 2020. The company executed real estate sales worth $2.6 million during Q2 2021, with no sales recorded in the previous year.
Maui Land & Pineapple Company (MLP) reported a net loss of $934,000 or $(0.05) per share for Q1 2021, an improvement from a net loss of $1,074,000 or $(0.06) per share in Q1 2020. Total operating revenues slightly rose to $2.06 million compared to $2.04 million in 2020. Notably, MLP sold its regulated utility assets on May 1, 2021, generating $4.2 million in net proceeds. The company continues to own approximately 23,000 acres in Maui and manages various properties and utilities.
Maui Land & Pineapple Company (NYSE: MLP) reported a net loss of $2.6 million or $(0.14) per share for 2020, an improvement from a $10.4 million loss in 2019. Total revenues decreased to $7.5 million in 2020 from $10.0 million the previous year. The COVID-19 pandemic significantly affected tourism, impacting operating revenues from real estate and club memberships. The fourth quarter of 2020 also showed a net loss of $0.7 million compared to $9.1 million in Q4 2019. The company managed a slight recovery through cash collateral recovery and a land sale.
Maui Land & Pineapple Company (NYSE: MLP) reported a net loss of $633,000 or $(0.03) per share for Q3 2020, a significant increase from a net loss of $9,000 in Q3 2019. Total operating revenues fell to $1.7 million from $2.7 million year-over-year. For the first nine months of 2020, the company incurred a net loss of $1.9 million, widening from $1.3 million in 2019. Operating revenues for this period decreased to $5.4 million from $7.5 million. The company did not report any real estate asset sales in both 2020 and 2019.
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