Core Insights - Alico, Inc. reported a net loss of $3.5 million for the first quarter ended December 31, 2025, an improvement from a net loss of $9.2 million in the same period last year, indicating a positive trend in financial performance [2][3][4] - The company achieved $7.7 million in land sales during the first quarter, contributing to a total of $34.5 million in land sales year-to-date through January 2026, reflecting strong demand for its Florida properties [1][2] - Alico's farmable land utilization reached 97% following the completion of lease agreements in January 2026, showcasing effective land management strategies [1][11] Financial Performance - Total revenue for the first quarter was $1.9 million, a significant decrease of 88.8% compared to $16.9 million in the prior year [3][34] - EBITDA for the quarter was $2.4 million, compared to a negative EBITDA of $6.7 million in the previous year, indicating improved operational efficiency [3][5] - Adjusted EBITDA was reported at $2.7 million, also reflecting a substantial turnaround from the previous year's negative figure [5][42] Land Management and Operations - The Alico Citrus segment reported operating revenues of $0.9 million, down from $16.3 million in the prior year, as the company winds down its citrus operations [7][8] - Land Management and Other Operations saw a revenue increase of 76.8% compared to the same period last year, driven by higher rock and sand royalties and farming lease revenue [9] - The company has diversified its land management programs, creating multiple revenue streams from agricultural partnerships, which now utilize approximately 89% of its total agricultural acres [12] Strategic Development - Alico is advancing its development pipeline with the Corkscrew Grove Villages project, which is expected to receive a decision from Collier County in 2026 [2][17] - The project aims to develop approximately 4,660 acres into two villages with a total of around 9,000 homes and significant commercial space, aligning with sustainable growth initiatives [17][21] - Alico's commitment to responsible land stewardship is evident through its conservation efforts, having sold over 46,800 acres for environmental protection [20] Balance Sheet and Liquidity - As of December 31, 2025, Alico reported $34.8 million in cash, with a current ratio of 14.39 to 1, indicating strong liquidity [2][15] - Total debt stood at $85.5 million, with net debt at $50.7 million, reflecting a slight increase from the previous quarter [15][43] - The company has available borrowings under its line of credit amounting to approximately $92.5 million, providing additional financial flexibility [15]

Core Insights - Alico, Inc. is transitioning to become a diversified land company, concluding its capital investment in citrus operations after the fiscal year 2025 harvest [1][2] - The company has raised its land sales outlook to potentially exceed $50 million for fiscal year 2025, supported by ongoing negotiations and agreements [1][2][25] - Alico's financial guidance now includes cash balance, net debt, and adjusted EBITDA targets for fiscal year 2025, projecting a cash balance of approximately $25 million and net debt of around $60 million [1][2][26] Financial Performance - For the second quarter ended March 31, 2025, Alico reported revenue of $17.98 million, a slight decrease of 0.7% compared to $18.11 million in the same period of 2024 [3] - The net loss attributable to Alico common stockholders for the quarter was $111.4 million, a significant increase from a loss of $15.8 million in the prior year, primarily due to accelerated depreciation and impairment related to the strategic transformation [4][5] - Adjusted EBITDA for the second quarter was $12.7 million, contrasting with a loss of $16.5 million in the same quarter of 2024 [5] Citrus Operations - Alico completed its last major citrus harvest in April 2025, with plans for a final harvest on remaining operational citrus groves in fiscal year 2026 [2][24] - Citrus production saw a decline, with total processed boxes down 20.4% year-over-year for the three months ended March 31, 2025 [7] - The company experienced a significant drop in pound solids harvested due to adverse weather conditions, specifically Hurricane Milton [7] Land Management and Other Operations - Revenue from Land Management and Other Operations increased by 107.1% for the three months ended March 31, 2025, driven by higher rock and sand royalty income [10] - Operating expenses in this segment decreased by 46.5% compared to the same period in 2024, primarily due to lower property taxes following the sale of Alico Ranch [11] Strategic Initiatives - Alico is developing the Corkscrew Grove Villages project, which will encompass approximately 4,660 acres and aims to provide residential and commercial opportunities while enhancing public infrastructure [17][18] - The company has initiated a multi-year entitlement approval process for the Corkscrew Grove Villages, with the first village's approval expected in 2026 [18] - Alico's commitment to conservation is evident in its plans to place an additional 6,000 acres into permanent conservation as part of the Corkscrew Grove Villages project [21][22] Liquidity and Financial Position - As of March 31, 2025, Alico reported a robust liquidity position with $14.7 million in cash and cash equivalents and $88.5 million in available credit facilities [1][19] - The company's working capital was $36.1 million, reflecting a current ratio of 5.56 to 1.00 [19] - Total debt stood at $89.6 million, with net debt at $74.9 million, showing a decrease from the previous fiscal year [19]

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].