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 ...

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 December 31, 2023 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) Fl ...

FORT MYERS, Fla., Feb. 05, 2024 (GLOBE NEWSWIRE) -- Alico, Inc. ("Alico" or the "Company") (NASDAQ:ALCO) today announced that the Company will release financial results for the first quarter ended December 31, 2023, on Wednesday, February 7, after the market close. The Company will host a conference call to discuss its financial results on Thursday, February 8, 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 fro ...

Group 1 - Alico, Inc. will release its financial results for the first quarter ended December 31, 2023, on February 7, 2024, after market close [1] - A conference call to discuss the financial results is scheduled for February 8, 2024, at 8:30 am Eastern Time [1] - The company operates primarily in two divisions: Alico Citrus, a major citrus producer, and Land Management and Other Operations, which includes land leasing [2]

When it comes to short-term investing or trading, they say "the trend is your friend." And there's no denying that this is the most profitable strategy. But making sure of the sustainability of a trend to profit from it is easier said than done.The trend often reverses before exiting the trade, leading to a short-term capital loss for investors. So, for a profitable trade, one should confirm factors such as sound fundamentals, positive earnings estimate revisions, etc. that could keep the momentum in the st ...

FORT MYERS, Fla., Jan. 12, 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 with investors at the Sidoti January Virtual Investor Conference, taking place on January 17th and 18th of 2024. The presentation will begin at 8:15AM EST on January 17th and can be accessed live here: https://sidoti.zoom.us/webinar/register/WN_0cggnfidRDSKMh74VUwgiQ Alico wil ...

Company Overview - Alico, Inc. has over 125 years of experience in agriculture and manages 49,000 acres of citrus groves across 7 counties and 31 locations in the U.S. [2] - Alico is the top citrus grower in the U.S. and the primary supplier to Tropicana, a leading orange juice brand [2] - The company is recognized for its exceptional caretaking practices, leading to a new partnership with a large citrus grower to manage 3,300 acres of citrus groves [2] Upcoming Events - John Kiernan, the CEO and President of Alico, will attend the 26th ICR Conference in Orlando, Florida, from January 8 to 9, 2024 [1] - Alico will present at the ICR Conference on January 8 at 3:30 PM EST, with a breakout session following at 4:00 PM [2] - An additional breakout session is scheduled for the morning of January 8 at 9:00 AM [2] Industry Context - The ICR Conference, established in 1998, brings together over 2,500 attendees, including management teams from more than 250 growth companies, institutional investors, and analysts [3] - The conference features panels on industry trends, dynamic speakers, and networking opportunities for key stakeholders [3] Business Operations - Alico operates primarily through two divisions: Alico Citrus, one of the largest citrus producers in the nation, and Land Management and Other Operations, which includes land leasing and support operations [4]

Financial Data and Key Metrics Changes - For the fiscal year ended September 30, 2023, total operating revenue was $39.8 million, a decrease from $91.9 million for the fiscal year ended September 30, 2022 [11] - Citrus revenue decreased to $38.1 million from $89.7 million in the previous year, driven by reduced fruit harvested due to Hurricane Ian [12] - Net income attributable to Alico common stockholders was $1.8 million for the fiscal year ended September 30, 2023, down from $12.5 million in the prior year [17] - Adjusted EBITDA was a loss of $16.1 million for the year ended September 30, 2023, compared to income of $13.4 million for the prior fiscal year [17] - Total operating expenses decreased to $33.4 million from $106.7 million in the same period last year, primarily due to insurance proceeds and reduced harvest expenses [14] Business Line Data and Key Metrics Changes - The overall decrease in box production for Alico was 51.5% for the 2022-2023 harvest season compared to the prior year [4] - The decrease in pound solids per box was attributed to lower internal fruit quality and accelerated harvesting to minimize fruit drop [13] - Grove management services revenue decreased by $10.7 million due to the termination of a property management agreement in June 2022 [12] Market Data and Key Metrics Changes - The USDA reported a 61.7% decrease in box production for the overall Florida orange crop compared to the same period in the prior year [4] - Alico's average realized price per pound solids improved by 2.6% for the year ended September 30, 2023, due to lower overall production of citrus fruit [13] Company Strategy and Development Direction - Alico continues to invest in its groves, applying oxytetracycline therapy to over 35% of its trees to combat citrus greening [6] - The company is evaluating the highest and best use of its real estate assets while maintaining its citrus operations [10] - Alico has partnered with another large citrus grower to manage approximately 3,300 acres of citrus groves, indicating a focus on expanding its management services [6] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in a significant crop recovery for the 2023-2024 season due to exceptional caretaking practices and the maturity of over 2 million trees planted since 2017 [6] - The company is hopeful for federal disaster relief funds to assist in recovery from Hurricane Ian, although the timing and amount remain uncertain [5] - Management highlighted the strength of the balance sheet, with $70 million available in undrawn credit, providing liquidity during recovery [7] Other Important Information - Alico sold approximately 2,255 acres of ranch land for about $12 million and anticipates closing a deal to sell 17,229 acres of Alico Ranch for approximately $77.6 million by February 2024 [8] - All shareholder litigation related to the balance sheet restatement last year has been voluntarily dismissed [10] Q&A Session Summary Question: Clarity on citrus recovery after Hurricane Ian - Management indicated that clarity on the size and quality of the crop will be available in a couple of months after evaluating the Early and Mid-Season harvests [22][23] Question: Efficacy of oxytetracycline treatment - Management noted visible differences in treated trees and expressed hope for improved fruit quality and reduced drop rates, but definitive efficacy will be evaluated at the end of the season [25][26] Question: Update on contracts and pricing - Management confirmed that contracts have been renewed at higher price points, with negotiations for other contracts expected to begin soon [27][28] Question: Real estate land-use planning - Management stated that planning is in early stages and will be conducted internally before engaging with external parties [33] Question: Opportunities in grove management - Management sees potential for growth in third-party caretaking services, focusing on selective opportunities that are self-contained or near existing operations [36]