Financial Data and Key Metrics Changes - For the fiscal year ended September 30, 2024, the company reported net income attributable to Alico common stockholders of $7 million, an increase from $1.8 million for the fiscal year ended September 30, 2023 [16] - The increase in net income was primarily due to a gain of $81.4 million from land sales compared to a gain of $11.4 million in the prior year, offset by a $19.5 million inventory impairment charge in the fourth quarter [17] - Earnings per diluted common share for the fiscal year ended September 30, 2024, were $0.91 compared to $0.24 for the fiscal year ended September 30, 2023 [18] Business Line Data and Key Metrics Changes - The company faced lower production levels for Early and Mid-Season and Valencia harvests, leading to a write-down of $28.5 million for the 2023-2024 harvest and $19.5 million for the 2024-2025 harvest [7] - The company treated nearly all producing trees with oxytetracycline (OTC) injections to combat citrus greening, with approximately 35% treated for a second consecutive year [9] Market Data and Key Metrics Changes - Alico entered a new three-year Orange Purchase Agreement with Tropicana, securing prices approximately 33% to 50% higher than the previous season [9] - The company reported an increase in other income net from $6.7 million in the prior year to $78.4 million, primarily due to increased land sales [20] Company Strategy and Development Direction - Alico is focused on operating income potential, protecting its balance sheet, and preserving capital to ensure financial resources for business investments [6] - The company is evaluating all properties to enhance and build value for shareholders, with a multi-year entitlement process for a 4,500-acre grove in Collier County underway [12][13] - Alico aims to provide investors with the benefits of conventional agricultural investments while leveraging active land management for enhanced optionality [21] Management's Comments on Operating Environment and Future Outlook - Management acknowledged ongoing challenges from Hurricane Ian, with production not returning to pre-Ian levels, and expressed uncertainty about the size of the 2025 crops [6] - Despite challenges, management remains optimistic about future success, citing a strong balance sheet and the potential for long-term value creation through real estate asset management [22] Other Important Information - The company completed the sale of 17,229 acres of Alico Ranch to the State of Florida for $77.6 million, using proceeds to repay outstanding borrowings and strengthen its balance sheet [11] - Alico has received grants to offset the costs of OTC injections, covering substantially all application costs incurred in fiscal year 2023 and approximately 35% of costs for fiscal year 2024 [10] Q&A Session Summary - The Q&A session was not detailed in the provided content, and thus no specific questions and answers can be summarized.

Land and Production - Alico owns approximately 53,371 acres of land in Florida, with 48,251 acres dedicated to citrus cultivation, representing 90.4% of total land holdings[17] - The total gross acres of citrus land owned and managed by the company is 48,251, with 34,060 classified as net plantable acres capable of producing fruit[35] - Alico extended a lease for approximately 637 acres, increasing citrus production acreage by about 2%[34] - The company has planted approximately 2,500,000 new trees since 2017 to increase grove density, with citrus trees typically becoming fruit-bearing four to five years after planting[37] Financial Performance - The company recognized a $19,549 inventory adjustment to reduce inventory to its net realizable value due to a significantly lower than anticipated harvest for the 2024-2025 season[22] - For the fiscal year ended September 30, 2024, sales to the processed market constituted 92.0% of Alico Citrus revenues, a decrease from 94.0% in the previous year[38] - Revenue from Tropicana represented 86.8% of consolidated revenue for the year ended September 30, 2024, up from 81.3% in 2023, primarily due to increased pound solids produced[55][56] - Revenues from Alico Citrus operations accounted for 96.6% of total operating revenues for the year ended September 30, 2024[43] - Revenues generated from grove management services increased from 3.2% in 2023 to 6.3% in 2024 of total citrus revenues[42] - The company recognized a gain of $77,025 from the sale of approximately 17,556 acres of the Alico Ranch during the year ended September 30, 2024[47] Risk Factors - Alico's citrus business is subject to various risks, including adverse weather conditions and disease, which could significantly affect financial performance[14] - The company is evaluating the impact of Hurricane Ian on production levels, which have not returned to pre-Ian levels[22] - Hurricane Milton caused minimal tree damage but resulted in measurable fruit drop, particularly in Polk and Hardee County[21] Agreements and Contracts - Alico entered a new three-year Orange Purchase Agreement with Tropicana, with prices approximately 33% to 50% higher than the previous season's average[25] - The Florida Citrus Commission reduced the minimum Brix value for oranges harvested, potentially increasing the amount of fruit acceptable to processors[20] Corporate Governance and Community Engagement - The company aims to maximize stockholder value through improving returns on invested capital and opportunistic monetization strategies[49] - The company is committed to societal well-being, having provided cash grants and donations to support community health, safety, and education initiatives over the past year[76] - Reports filed with the SEC are available on the company's investor relations website, ensuring transparency and accessibility of financial information[77] - The company qualifies as a smaller reporting company and is not required to provide certain market risk disclosures[258] Employee and Operational Insights - The company employs a total of 199 employees across various divisions, with 175 in Alico Citrus and 24 in Corporate, General, Administrative, and Other[73] - The company owns and maintains 38 residential housing units in Florida, providing affordable housing to employees, which helps reduce commuting times[74] - Raw materials for crop cultivation, including fertilizers, herbicides, insecticides, and fuel, are readily available from local suppliers without long-term commitments[75] Treatment and Mitigation Efforts - The company treated approximately 4.5 million producing trees with Oxytetracycline Hydrochloride to mitigate the impacts of citrus greening[27] - The average pound solids per box decreased from 5.02 in 2023 to 4.83 in 2024[39] - Alico amended its Credit Agreement, increasing the revolving line of credit from $25,000 to $95,000, extending the maturity date to May 1, 2034[24]

Exhibit 99.1 Alico, Inc. Announces Financial Results for the Fourth Quarter and Fiscal Year Ended September 30, 2024 Fort Myers, FL, December 2, 2024 - Alico, Inc. ("Alico" or the "Company," "we," "us" or "our") (Nasdaq: ALCO) today announces financial results for the fourth quarter and fiscal year ended September 30, 2024, the highlights of which are as follows: • The Company reports net income attributable to Alico, Inc. common stockholders of $7.0 million and EBITDA of $29.7 million for the fiscal year e ...

FORT MYERS, Fla., Dec. 02, 2024 (GLOBE NEWSWIRE) -- Alico, Inc. (“Alico” or the “Company,” “we,” “us” or “our”) (Nasdaq: ALCO) today announces financial results for the fourth quarter and fiscal year ended September 30, 2024, the highlights of which are as follows: The Company reports net income attributable to Alico, Inc. common stockholders of $7.0 million and EBITDA of $29.7 million for the fiscal year ended September 30, 2024. After adjusting for certain non-recurring items, the Company reports Adjusted ...

FORT MYERS, Fla., Nov. 29, 2024 (GLOBE NEWSWIRE) -- Alico, Inc. (“Alico” or the “Company”) (Nasdaq: ALCO) today announced that the Company will release financial results for the fourth quarter and full year ended September 30, 2024, on Monday, December 2, 2024 before market open. The Company will host a conference call to discuss its financial results on Monday, December 2, 2024, at 8:30 am Eastern Time. Interested parties may join the conference call by dialing 1-800-225-9448 in the United States and 1-203 ...

It has been a few months since I last wrote about Alico (NASDAQ: ALCO ), the leading Florida citrus grower. My bullish view of Alico was predicated on the value of Alico's vast real estate holdingsAuthor of the Macro Trends & Inflection Points Newsletter. I spent 5 years as a co-founder and hedge fund CIO / manager. Before that, I was a hedge fund analyst/portfolio manager at a leading Canadian alternative asset manager. I write articles as part of my own due diligence on the stocks that I find interesting. ...

FORT MYERS, Fla., Oct. 17, 2024 (GLOBE NEWSWIRE) -- Initial assessments indicate that Alico, Inc. sustained minimal tree damage from Hurricane Milton last week. Most importantly, we are grateful that none of our approximately 197 employees were casualties from this devastating storm in Florida last week. The full impact of Hurricane Milton on Alico’s assets and operations is still being assessed at this time, but we believe the lessons learned over the past century, especially since Hurricane Irma in 2017 a ...

Group 1 - Alico (NASDAQ: ALCO) is currently rated as a BUY due to its land value, particularly for land that is in the process of being entitled [1] - The stock is trading lower for several reasons, which are not specified in the document [1] - The company is appealing to value investors interested in post-bankruptcy, net asset value (NAV), and undervalued micro and nano cap stocks [1] Group 2 - The investment strategy focuses on companies with layers of value and typically little or no debt [1]

Core Points - Alico, Inc. has amended its Credit Agreement with MetLife, increasing its revolving line of credit (RLOC) from $25 million to $95 million and extending the maturity date to May 1, 2034 [1][2] - The RLOC is secured by approximately 36,800 gross acres of citrus land, and the company has paid off its current borrowings under a $70 million working capital line of credit [1][2] - The interest rate on borrowings under the RLOC is based on the one Month Term Secured Overnight Financing Rate (SOFR) plus a credit spread of 2.20%, with no principal payments due until maturity [2] Company Overview - Alico, Inc. operates primarily in 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]

Counter/DigitalVision via Getty Images As the population and jobs continue to flock to Florida, land is becoming increasingly scarce and valuable. Prologis (PLD) just paid $378 per foot for a teardown and rebuild in Miami-Dade County. Miami-Dade is the epicenter, but much of the state is experiencing similar trends directionally. Given the land scarcity, we have been looking at ways to increase exposure to Florida real estate and particularly Florida land. Alico (NASDAQ:ALCO) is arguably the cheapest wa ...