Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q þ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Quarterly Period Ended March 31, 2024 or o Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from____________________ to _________________________ Commission File Number: 0-261 ALICO, INC. (Exact name of registrant as specified in its charter) Secur ...

Exhibit 99.1 Alico, Inc. Announces Financial Results for the Second Quarter and Six Months Ended March 31, 2024 Fort Myers, FL, May 6, 2024 - Alico, Inc. ("Alico", the "Company", "we", or "our") (Nasdaq: ALCO) today announces financial results for the second quarter of fiscal year 2024 and the six months ended March 31, 2024, the highlights of which are as follows: | | | | | Three Months Ended March 31, | | | | | | Six Months Ended March 31, | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | ...

FORT MYERS, Fla., April 22, 2024 (GLOBE NEWSWIRE) -- Alico, Inc. ("Alico" or the "Company") (NASDAQ:ALCO) today announced that the Company will release financial results for the quarter ended March 31, 2024, on Monday, May 6, after the market close. The Company will host a conference call to discuss its financial results on Tuesday, May 7, 2024, at 8:30 am Eastern Time. Interested parties may join the conference call by dialing 1-888-886-7786 in the United States and 1-416-764-8658 from outside of the Unite ...

FORT MYERS, Fla., April 22, 2024 (GLOBE NEWSWIRE) -- Alico, Inc. (“Alico” or the “Company”) (Nasdaq: ALCO) today announced that the Company will release financial results for the quarter ended March 31, 2024, on Monday, May 6, after the market close. The Company will host a conference call to discuss its financial results on Tuesday, May 7, 2024, at 8:30 am Eastern Time. Interested parties may join the conference call by dialing 1-888-886-7786 in the United States and 1-416-764-8658 from outside of the Unit ...

FORT MYERS, Fla., March 14, 2024 (GLOBE NEWSWIRE) -- Alico, Inc. (“Alico” or the “Company”) (NASDAQ: ALCO) announced today that John Kiernan, the Company’s Chief Executive Officer and President, will present and host one-on-one meetings at the 36th Annual Roth Conference taking place in Dana Point, CA March 18th and 19th of 2024. This year’s event will consist of 1-on-1 / small group meetings, analyst-selected fireside chats, thematic and industry panels, by executive management from approximately 500 priva ...

Company Overview - Alico, Inc. has over 125 years of experience in agri-business and manages 49,000 acres of citrus groves across 31 locations in Florida, making it the largest citrus grower in the U.S. and a primary supplier to Tropicana Brands Group [2][4] - The company operates primarily through two divisions: Alico Citrus and Land Management and Other Operations, which includes land leasing and related support operations [4] Event Participation - Alico's CEO, John Kiernan, will present and host one-on-one meetings at the 36th Annual Roth Conference on March 18th and 19th, 2024, in Dana Point, CA, which will feature approximately 500 private and public companies across various growth sectors [1]

The Zacks Agriculture – Operations industry faces a myriad of challenges that can impact productivity, sustainability and the overall well-being of the industry participants. Fluctuating commodity prices, rising input costs, trade uncertainties and elevated operational expenses have been affecting players for a while. As prices increase across the board, companies within this vital sector are grappling with challenges that impact their operations, profitability and long-term sustainability.However, the indu ...

Financial Data and Key Metrics Changes - The company reported a net income attributable to common stockholders of $42.9 million for Q1 2024, compared to a net loss of $3.2 million in Q1 2023, primarily driven by the sale of Alico Ranch [13] - Total debt decreased by $44 million and net debt decreased by almost $62 million, representing a 34% decrease in total debt and a 48% decrease in net debt from September 30, 2023, to December 31, 2023 [8] - Revenue increased by $3.3 million for the three months ended December 31, 2023, compared to the same period in 2022, mainly due to a 24.9% increase in pound solids and a 30.1% increase in processed box production [10] Business Line Data and Key Metrics Changes - The company experienced disappointing results from early and mid-season harvests, leading to an inventory writedown of approximately $10.8 million in Q1 2024 [6] - Operating expenses rose to $28.2 million in Q1 2024 from $14.4 million in Q1 2023, largely due to the inventory adjustment and increased harvest costs [12] Market Data and Key Metrics Changes - The price per pound sold increased by 3.4% for the three months ended December 31, 2023, compared to the same period in the prior year, attributed to more favorable pricing in contracts with Tropicana [11] Company Strategy and Development Direction - The company plans to apply oxytetracycline (OTC) therapy to substantially all producing trees in fiscal year 2024, aiming for a significant increase in fruit harvest in the next season [15] - Alico is actively evaluating all properties to determine the highest and best use to create long-term value for shareholders [15] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism regarding the upcoming Valencia harvest, expecting a stronger recovery from the effects of Hurricane Ian [14] - The company noted that the recovery from Hurricane Ian's impact may take up to two years, but does not anticipate permanent structural damage to the trees [18] Other Important Information - The company received funding from the Citrus Research and Field Trial Foundation to support the use of OTC to combat greening in citrus trees [7] - Alico published its 2023 Annual Sustainability Report, highlighting its approach to sustainability and progress with environmental, social, and governance priorities [8] Q&A Session Summary Question: Discussion on harvest recovery timeline and tree condition - Management indicated that while recovery may take up to two years, there is no permanent damage to the trees, just a longer rebound period [18] Question: Difference in production between treated and untreated trees - Management noted visible improvements in production from trees treated with OTC, but a full evaluation will be reserved until the end of the harvest season [20] Question: Update on contract renewals - Management is currently in the bidding process for contracts that will start in November or December, with updates expected by the third quarter [22]

Alico (ALCO) came out with a quarterly loss of $2.34 per share versus the Zacks Consensus Estimate of a loss of $0.28. This compares to loss of $0.84 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -735.71%. A quarter ago, it was expected that this agribusiness and land management company would post a loss of $0.34 per share when it actually produced a loss of $0.03, delivering a surprise of 91.18%.Over the last four quarters, ...

FORT MYERS, Fla., Feb. 07, 2024 (GLOBE NEWSWIRE) -- Alico, Inc. ("Alico" or the "Company") (NASDAQ:ALCO) today announces financial results for the first fiscal quarter ended December 31, 2023, the highlights of which are as follows: The Company reports net income attributable to Alico, Inc. common stockholders of $42.9 million and EBITDA of $63.8 million for the fiscal quarter. After adjusting for certain items, the Company reports Adjusted EBITDA of $(2.3) million for the quarter ended December 31, 2023.On ...