Alico, Inc. Closes $26.8 Million Land Sale and Achieves 97% Agricultural Utilization

Core Viewpoint - Alico, Inc. has successfully completed a total of $34.6 million in land sales during fiscal year 2026, marking significant progress in its strategic transformation from traditional citrus operations to a diversified land company [1][2]. Group 1: Land Sales and Financial Performance - The company closed on the sale of a large citrus grove in Hendry County, approximately 2,950 acres, for $26.8 million in gross proceeds, contributing to its land monetization strategy [2]. - Additional transactions included the sale of 579 acres of citrus land for $6.1 million and an office and shop facility for $1.7 million, demonstrating continued execution of Alico's strategic repositioning [2]. - Total debt as of September 30, 2025, was $85.5 million, down from $92.1 million at the end of fiscal year 2024, resulting in a net debt position of $47.4 million after accounting for $38.1 million in cash [4]. Group 2: Land Utilization and Revenue Generation - Alico achieved 97% utilization of its approximately 32,500 farmable agricultural acres, with 89% of its total agricultural acres utilized [3]. - The company's land management programs now include fee-generating or revenue-sharing agreements with various agricultural operators, creating diversified revenue streams [3]. - The strengthened balance sheet, combined with proceeds from land sales and agricultural leasing revenue, provides substantial liquidity for advancing development projects while maintaining operational efficiency [5]. Group 3: Strategic Transformation and Future Outlook - The company is focused on optimizing land holdings for diversified agricultural operations while pursuing land development plans, with projects proceeding as expected [4]. - Alico's Board of Directors has authorized a buyback of up to $50 million of common stock, reflecting a commitment to shareholder value creation [5]. - The company operates as a diversified land company with approximately 49,537 acres across 8 Florida counties, emphasizing strategic land development opportunities and responsible land stewardship [6].