Core Viewpoint - Alico, Inc. is transitioning its business focus from citrus production to long-term diversified land usage and real estate development due to environmental and financial challenges faced in the citrus industry [2]. Group 1: Company Overview - Alico, Inc. operates two divisions: Alico Citrus, one of the largest citrus producers in the U.S., and Land Management and Other Operations, which includes land leasing and support operations [2]. - Alico Citrus will cease operations after the current crop is harvested in the first half of 2025 [2]. Group 2: Investor Engagement - John Kiernan, President and CEO of Alico, will host one-on-one meetings with investors at the BMO Global Farm to Market Conference on May 14-15, 2025, in New York City [1].

Core Viewpoint - Alico, Inc. is set to release its financial results for the second quarter ended March 31, 2025, on May 13, 2025, after market close [1] Financial Results Announcement - The company will host a conference call on May 14, 2025, at 8:30 am Eastern Time to discuss the financial results [2] - Interested parties can join the call by dialing specific numbers for the United States and international participants, with the participant identification being ALICO [2] Telephone Replay Information - A telephone replay of the conference call will be available approximately three hours after the call concludes on May 14, 2025, and will remain accessible until May 28, 2025 [3] - Specific dial-in numbers and a passcode for the playback are provided for both U.S. and international listeners [3] Company Overview - Alico, Inc. operates two divisions: Alico Citrus, one of the largest citrus producers in the U.S., and Land Management and Other Operations, which includes land leasing and support operations [4] - Alico Citrus will wind down operations after the current crop is harvested in the first half of 2025 due to environmental and financial challenges [4] - The company remains committed to Florida's agriculture industry and will focus on a long-term diversified land usage and real estate development strategy [4]

Company Overview - Alico, Inc. operates two divisions: Alico Citrus, one of the largest citrus producers in the U.S., and Land Management and Other Operations, which includes land leasing and related support operations [3] - Alico Citrus will wind down operations after the current crop is harvested in the first half of calendar year 2025 due to environmental and financial challenges [3] - The company remains committed to Florida's agriculture industry and will focus on a long-term diversified land usage and real estate development strategy [3] Upcoming Events - John Kiernan, the President and CEO of Alico, will present and host one-on-one meetings at the Planet Microcap Showcase: VEGAS 2025 from April 22-24, 2025 [1] - The presentation is scheduled to begin at 12:00 PM ET on April 23, 2025, and will be accessible live [2] - Management will also host one-on-one meetings with investors on April 24, 2025 [2]

Core Viewpoint - Alico, Inc. has amended its credit agreement to better align financial covenants with its strategic transformation, which includes reducing insurance coverage requirements for the upcoming harvest season, leading to cost savings for the company [1][2][3]. Group 1: Credit Agreement Amendment - The Amendment No. 7 to the First Amended and Restated Credit Agreement became effective on March 31, 2025, and adjusts certain financial covenants to support Alico's evolving business model [2]. - The Amendment specifically reduces the level of Crop and Tree Insurance coverage required for the 2025/2026 harvest season, which is expected to result in cost savings for Alico [2]. Group 2: Business Transformation - John Kiernan, President and CEO, stated that the amendments create a more flexible financial framework while maintaining appropriate discipline, reflecting the company's ongoing business transformation [3]. - Alico Citrus, one of the nation's largest citrus producers, will wind down operations after the 2024/2025 harvest due to environmental and financial challenges, shifting focus to long-term diversified land usage and real estate development [4]. Group 3: Company Operations - Alico operates two divisions: Alico Citrus and Land Management and Other Operations, which include land leasing and related support operations [4]. - The company remains committed to Florida's agriculture industry despite the winding down of its citrus operations, emphasizing a strategy focused on diversified land usage and real estate development [4].

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Company Overview - Alico, Inc. operates two divisions: Alico Citrus, one of the largest citrus producers in the U.S., and Land Management and Other Operations, which includes land leasing and support operations [3] - Alico Citrus will cease operations after the 2024/2025 harvest due to environmental and financial challenges, while the company will focus on long-term diversified land usage and real estate development strategy [3] Upcoming Event - John Kiernan, President and CEO of Alico, will present and host one-on-one meetings with investors at the 15th Annual LD Micro Invitational on April 9 and 10, 2025 [1][2] - Alico's presentation is scheduled for 9:00 AM ET on April 10, 2025, and the event will feature presentations from 50 companies [2]

Core Viewpoint - Alico, Inc. has filed a development application for the "Corkscrew Grove East Village," marking a significant step in its strategic transformation towards land development and environmental stewardship [1][3]. Group 1: Development Plans - The development plan includes two mixed-use villages, each spanning 1,500 acres, aimed at creating a residential and commercial hub in Collier County [2]. - Initial development will focus on the Corkscrew Grove East Village, with construction expected to start after obtaining necessary permits by 2028 or 2029 [2]. Group 2: Strategic Assets and Value - Alico aims to monetize four strategic assets totaling approximately 5,500 acres, representing about 10% of its land holdings, within the next five years, with an estimated value of $335-380 million [3]. - The Corkscrew Grove Villages are part of Alico's strategy to unlock value from its land holdings and respond to the growing demand for housing and commercial space in Southwest Florida [3]. Group 3: Environmental Commitment - Alico is setting aside an additional 6,000 acres for permanent conservation, demonstrating its commitment to balanced development and environmental stewardship [1]. - The project aligns with the goals of Collier County's Rural Land Stewardship Area (RLSA), which aims to enhance agricultural lands and natural resources while allowing for well-planned community development [3]. Group 4: Governance and Coordination - A local bill has been filed to establish the Corkscrew Grove Stewardship District, which will facilitate coordinated management of development and environmental conservation [4]. - This district is expected to enhance collaboration with stakeholders and provide transparency in Alico's development plans [4].

Core Viewpoint - Alico, Inc. is undergoing a strategic transformation, shifting focus from citrus production to diversified land usage and real estate development, with plans to wind down citrus operations by mid-2025 [2][5]. Company Overview - Alico operates two divisions: Alico Citrus, one of the largest citrus producers in the U.S., and Land Management and Other Operations, which includes land leasing and support operations [2]. - The company is committed to Florida's agriculture industry despite the challenges faced in citrus production [2]. Strategic Transformation - Alico's strategic transformation includes a focus on long-term diversified land usage and real estate development, with an estimated portfolio value of $650-$750 million [5]. - The company plans to monetize select land assets, expecting $20 million in transactions to close in fiscal 2025 [5]. - Development of alternative agricultural revenue streams through leasing arrangements and seasonal crops is part of the strategy [5]. Future Outlook - Alico's management will provide updates on the execution of its strategic transformation during one-on-one meetings with investors at the 37th Annual ROTH Conference on March 17 and 18, 2025 [1].

Financial Data and Key Metrics Changes - For the first fiscal quarter ended December 31, 2024, revenue increased by 21% to $16.9 million compared to $14 million in the prior year period [26] - Adjusted EBITDA was $0.7 million in the first fiscal quarter ended December 31, 2024, compared to a loss of $2.3 million in the first fiscal quarter ended December 31, 2023 [32] - The company reported a net loss attributable to Alico common shareholders of $9.2 million compared to net income of $42.9 million for the first fiscal quarter ended December 31, 2023 [32] Business Line Data and Key Metrics Changes - Alico citrus revenue was $16.3 million compared to $13.6 million in the prior year period, driven by a $2.7 million increase in revenue primarily due to an increase in the price per pound solid [26] - Approximately 4 million pound solids were harvested for the three months ended December 31, 2024, at an average price of $3.69 per pound solid compared to 4.7 million pound solids at $2.66 per pound solid in the prior year period [26] - Land management and other operations revenue increased by 45% to $0.6 million compared to $0.4 million in the prior year period [28] Market Data and Key Metrics Changes - The company expects to realize approximately $20 million in land sales in fiscal 2025 based on transactions that are under option agreements or have been negotiated [36] - The present value of current land holdings could be worth approximately $650 million to $750 million, assuming 10% of those acres are entitled for development within the next five years [23] Company Strategy and Development Direction - The company is focusing on a strategic transformation that balances alternative agricultural operations with strategic land monetization opportunities [6] - Alico plans to wind down its capital-intensive citrus production and transition approximately 25% of its land for non-agricultural purposes [9] - The company aims to maintain its agricultural heritage while creating new opportunities for profitable growth through diversified non-citrus operations [10] Management Comments on Operating Environment and Future Outlook - Management acknowledged ongoing challenges in citrus operations due to citrus greening disease and environmental factors, leading to a 73% decline in citrus production over the last 10 years [11] - The company expects harvest volumes in 2025 to be lower compared to 2024 levels due to the effects of greening and Hurricane Milton [35] - Management is optimistic about the strategic transformation and its potential to unlock value for shareholders [23] Other Important Information - Cash and cash equivalents were $4.4 million as of December 31, 2024, compared to $3.2 million at the end of fiscal year 2024 [33] - Total debt was $104.9 million and net debt was $100.5 million as of December 31, 2024, compared to $92.1 million and $89 million, respectively, at the end of fiscal year 2024 [34] Q&A Session Summary Question: What are the expectations for the citrus harvest in fiscal 2025? - Management expects harvest volumes in 2025 to be lower compared to 2024 levels due to the effects of greening and Hurricane Milton [35] Question: Can you provide details on the land sales expected this fiscal year? - The company expects to realize approximately $20 million in land sales based on transactions that are under option agreements or have been negotiated [36] Question: What is the outlook for cash flow and liquidity? - Management reiterated that cash flow has been positive since January and expects to end the fiscal year with enough cash to meet operating expenses for fiscal years 2026 and 2027 [19]

Land Management and Other Operations Revenue Increased 45% Compared to Prior Year Robust Liquidity Position with $73.5 million in Available Credit Facilities and No Significant Debt Maturities Until 2029 Company Expects to Realize Approximately $20 Million in Land Sales in Fiscal Year 2025 Company Executing Strategic Transformation to Become Diversified Land Company; Concludes Capital Investment on Citrus Operations After Current Crop is Harvested in 2025 FORT MYERS, Fla., Feb. 12, 2025 (GLOBE NEWSWIRE) -- ...