Core Viewpoint - Alico is transitioning away from capital-intensive citrus production towards land monetization and management, reflecting improved profitability metrics and a focus on real estate development opportunities [5][7][21] Financial Performance - Alico reported total revenue of $1.9 million for Q1 fiscal 2026, a significant decline from $16.9 million in the prior-year period, primarily due to the conclusion of its citrus business [3] - The net loss attributable to common stockholders was $3.5 million, or $0.45 per diluted share, an improvement from a net loss of $9.2 million, or $1.20 per diluted share, in the prior-year quarter [2][4] - Adjusted EBITDA for the quarter was $2.7 million, compared to negative $6.7 million in the previous year [2] Land Sales and Utilization - Alico generated $7.7 million in land sales during the first quarter, with year-to-date land sales totaling approximately $34.5 million [4][10] - The company achieved 97% utilization of its approximately 32,500 farmable acres, reflecting a strategic shift towards land management [7][12] Development Pipeline - The Corkscrew Grove stewardship district was approved, with four near-term projects covering about 5,500 acres and an estimated present value of $335–$380 million [6][19] - Alico anticipates a decision from Collier County in 2026, with potential construction starting as early as 2028, contingent on federal permits [6][19] Balance Sheet and Liquidity - Alico ended the quarter with $34.8 million in cash and a current ratio of 14.39 to 1, with total debt at $85.5 million and net debt at $50.7 million [13][14] - The company expects to end fiscal 2026 with approximately $50 million in cash and reduce net debt to around $35 million [15] Shareholder Returns - Since 2015, Alico has returned over $190 million to shareholders through dividends, share repurchases, and voluntary debt reduction [21]

Core Viewpoint - Bunge Limited reported strong quarterly results but provided a softer profit outlook for the upcoming year, leading to a decline in stock price during premarket trading [1] Segment Performance - Soybean Processing and Refining: Quarterly net sales reached $11.045 billion, up from $8.374 billion year-over-year, driven by improved results in Argentina and Brazil [2] - Softseed Processing and Refining: Net sales increased to $4.545 billion from $1.808 billion a year ago, attributed to higher processing margins and the integration of Viterra's assets [3] - Other Oilseeds Processing and Refining: Net sales remained stable at $1.191 billion year-over-year [3] - Grain Merchandising and Milling: Net sales rose to $6.982 billion from $2.242 billion a year ago [3] Quarterly Metrics - Gross profit for the quarter was $1.011 billion, down from $1.081 billion a year ago [4] - Adjusted Total EBIT increased to $622 million from $445 million year-over-year, with growth across all segments [4] - Cash and equivalents at the end of the quarter totaled $1.135 billion, a decrease from $3.311 billion a year ago [4] Cash Flow - Cash provided by operations was $844 million, down from $1,900 million in the previous year, primarily due to lower net income and changes in working capital [5] Outlook - For fiscal 2026, Bunge expects adjusted earnings of $7.50 to $8.00 per share, below the analyst estimate of $8.71 [6] - The company anticipates an adjusted effective tax rate of 23%-27% and net interest expense of $575 million-$625 million for 2026 [7] - Capital expenditures are forecasted to be between $1.5 billion and $1.7 billion, with depreciation and amortization around $975 million [7]

Financial Data and Key Metrics Changes - The company reported fourth quarter adjusted earnings per share of $0.87 and full year adjusted earnings per share of $3.43 [5] - Total segment operating profit was $821 million for the fourth quarter and $3.2 billion for the full year [5] - The trailing fourth quarter adjusted return on invested capital (ROIC) was 6.3% [5] - Cash flow from operations before working capital changes was $2.7 billion for 2025, with a $1.5 billion cash flow benefit from inventory reduction [5][22] Business Line Data and Key Metrics Changes - The Ag Services and Oilseeds (AS&O) segment operating profit for the fourth quarter was $444 million, down 31% year-over-year, and $1.6 billion for the full year, down 34% [14] - The Carbohydrate Solutions segment operating profit was $299 million for the fourth quarter, down 6% year-over-year, and $1.2 billion for the full year, down 12% [17] - The Nutrition segment revenues were $1.8 billion for the fourth quarter, remaining flat year-over-year, with human nutrition revenue increasing by 5% and animal nutrition revenue decreasing by 4% [19] Market Data and Key Metrics Changes - The company noted that the operating environment throughout 2025 was challenging, but there are expectations for a more constructive market environment in 2026 due to improved trade relations with China and anticipated clarity in U.S. biofuel policy [11][12] - The company expects segment operating profit for Carbohydrate Solutions to remain relatively flat, with lower starches and sweeteners volumes offset by higher ethanol margins [12] Company Strategy and Development Direction - The company is focusing on five key growth areas: enhanced nutrition, biotics, biosolutions, precision fermentation, and decarbonization [9] - The company executed over 20 projects as part of portfolio optimization and simplification initiatives, achieving approximately $200 million in cost savings [8] - The company aims to achieve targeted aggregate cost savings of $500-$750 million over three to five years, which began in 2025 [27] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, highlighting the potential for growth driven by improved market conditions and strategic initiatives [11][12] - The outlook for adjusted EPS in 2026 is projected to be between $3.60 and $4.25, reflecting growth over 2025 [12][23] Other Important Information - The company paid its 376th consecutive quarterly dividend [6] - The joint venture with Alltech has commenced operations, although it is not expected to have a material impact on nutrition operating profit in 2026 [25] Q&A Session Summary Question: Comments on the RVO and its impact on operating rates - Management acknowledged the uncertainty surrounding the Renewable Volume Obligation (RVO) and its timing, but expressed confidence in positive outcomes once clarity is achieved [33][34] Question: Update on Nutrition segment performance and customer recovery - Management noted strong performance in flavors and biotics, with ongoing efforts to regain market share lost during the Decatur East plant downtime [41][42] Question: Insights on crush margins and demand for Starches and Sweeteners - Management indicated that the softness in demand is influenced by consumer behavior changes and pricing pressures, but they are focused on offsetting these trends [66][67] Question: Clarification on corporate expenses and tax rates - Management provided guidance on an expected effective tax rate between 18% and 20% and noted that corporate costs would increase due to reinvestment in R&D and digital platforms [72] Question: Discussion on the impact of RVO on future earnings - Management emphasized that multiple factors will influence future earnings, including RVO clarity, consumer demand, and operational efficiency [80][81]

Core Viewpoint - Bunge (BG) is a leading global agribusiness and food company with a market capitalization of $22.3 billion, demonstrating strong technical momentum and a 100% "Buy" opinion from Barchart [1][6][7]. Financial Performance - Bunge's stock has gained 46.19% over the past 52 weeks and is currently trading at $113.28, with a 50-day moving average of $97.99 [7]. - The company has made 18 new highs and is up 26.58% over the past month, with a Relative Strength Index (RSI) of 72.71 [7]. - Revenue is projected to increase by 30.02% this year and another 34.57% next year, while earnings are estimated to decrease by 20.11% this year and increase by 21.79% next year [8]. Analyst Ratings - Analyst sentiment is mixed, with Bunge receiving 8 "Strong Buy," 1 "Moderate Buy," and 1 "Hold" rating, and price targets ranging from $80 to $120 [8]. - Value Line rates the stock "Average" with price targets between $50 and $135, while CFRA's Market Scope rates it a "Hold" with a price target of $103 [8]. - Morningstar considers the stock to be Fairly Valued, and 19,920 investors are following the stock on Seeking Alpha, which rates it a "Hold" [8]. Technical Indicators - Bunge scored a new 3-Year high of $119.57 on January 29 [4]. - The stock has a Weighted Alpha of +59.04 and maintains its Trend Seeker "Buy" signal [7]. - The trailing price-earnings ratio is 15.3x, and the dividend yield is 2.49% [7].

Core Insights - AB Akola Group, a leading agricultural and food production group in the Baltics, is planning a EUR 34 million investment project for animal by-products processing infrastructure through its subsidiary Vilniaus Paukštynas [1][2] Investment Project Details - The investment aims to enhance the efficiency of animal by-products handling and operational efficiency, with a potential start of operations in the second half of 2028, creating 52 new jobs [2] - The project will focus on consolidating animal by-products processing at a single location, utilizing advanced equipment and innovative technologies for environmental protection and hygiene [3] Facility Specifications - If approved, the facility will be a Category 3 animal by-products processing plant, classified as low-risk, processing raw materials from poultry farming through a closed technological process [4] - The facility is expected to produce approximately 76 tonnes of products daily, including 17 tonnes of rendered fats, which can be utilized in feed production and the cosmetics and biotechnology sectors [5] Company Overview - AB Akola Group is the largest agribusiness and food production group in the Baltics, employing over 5,000 people and operating across the entire food production chain [6] - In the 2024–2025 financial year, the group reported revenues of €1.58 billion, with gross profit of €194 million and net profit of €61 million [6]

Core Viewpoint - Alico, Inc. will release its financial results for the first quarter ended December 31, 2025, on February 4, 2026, after market close [1] Financial Results Announcement - The financial results will be discussed in a conference call on February 5, 2026, at 8:30 am Eastern Time [2] - Interested parties can join the call by dialing specific numbers for the United States and international participants [2] Conference Call Details - A telephone replay of the conference call will be available approximately three hours after the call concludes, lasting until February 19, 2026 [3] - Specific dial-in numbers and a passcode for the playback are provided for both U.S. and international listeners [3] Company Overview - Alico, Inc. is a Florida-based agribusiness and land management company with over 125 years of experience [4] - The company operates approximately 49,537 acres across 8 Florida counties as of September 30, 2025, focusing on strategic land development and diversified agricultural operations [4] - Alico aims to create long-term shareholder value while maintaining a commitment to responsible land stewardship and conservation [4]

As filed with the U.S. Securities and Exchange Commission on January 21, 2026. Registration No. 333-291080 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 AMENDMENT NO. 1 TO FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 ––––––––––––––––––––––––––––––––––––––– Brava Acquisition Corp. (Exact name of registrant as specified in its charter) ––––––––––––––––––––––––––––––––––––––– | | | 1330 Avenue of the Americas, 23 rd Floor New York, NY 10019 Telephone: (212) 653-973 ...

Core Insights - Riverwater Partners' Micro Opportunities Strategy faced challenges in Q4 and FY2025, underperforming against benchmarks due to underweight exposure in speculative market areas [1] - The strategy's focus on high-quality stocks lagged behind the broader market, as low-quality stocks with poor fundamentals outperformed [1] - For 2026, the strategy aims to concentrate on micro-cap companies with broader sales and growth trajectories, anticipating that the rally in low-quality stocks will be short-lived [1] Company-Specific Insights - Limoneira Company (NASDAQ:LMNR) was identified as a top performance detractor in Q4 2025, with a one-month return of -3.06% and a 52-week loss of 38.22% [2] - As of January 16, 2026, Limoneira's stock closed at $14.24 per share, and the company has a market capitalization of $258.016 million [2] - Limoneira's underperformance is attributed to near-term results not reflecting the value of long-cycle investments, despite a solid strategic foundation [3] - The company, a 132-year-old agribusiness and the largest avocado grower in the U.S., has been expanding its avocado acreage, with 1,500 acres planted and 700 acres still progressing toward full production [3]

Company Insights - Limoneira, a 132-year-old California agribusiness and the largest avocado grower in the U.S., has been expanding its avocado acreage by planting 1,500 acres, with 700 acres still maturing towards full production [16][29] - The company’s strategy of patient capital allocation is now seen as prescient due to supply chain vulnerabilities in avocado imports, with U.S. imports relying on Mexico for approximately 90% of its avocados [17] - Limoneira's domestic orchards are approaching peak production, which coincides with a decline in Mexican avocado shipments, presenting a significant market opportunity [17] Industry Trends - The Russell 2000 index, which includes small-cap stocks, is currently trading at a significant discount to large-cap stocks, a situation historically preceding substantial outperformance for small-caps [18] - Approximately 43% of Russell 2000 companies are unprofitable, a rate that has tripled over the past thirty years, indicating a trend where loss-making companies often outperform profitable ones during speculative periods [9] - The market dynamics in 2025 saw a significant decline in small-cap stocks, with a bear market triggered by tariff announcements, leading to a decline of over 20% from recent highs [8][7]

Core Insights - "Linas Agro", a major agribusiness in Lithuania, has secured a EUR 30 million working capital financing agreement with Citibank N.A. to support grain purchasing operations at the Port of Klaipeda [1][5] - This financing agreement is notable as it represents one of the few agribusiness transactions in Lithuania involving a significant international commercial bank [1] Company Overview - "Linas Agro" is recognized as one of the largest buyers of wheat, rapeseed, and other cereals in Lithuania, and it leads in purchasing within the Baltic states [6] - The company exports wheat primarily to Nigeria, South Africa, Spain, and Morocco, while rapeseed is exported to Germany, the United Kingdom, the Netherlands, and Nordic countries [6] Financing Details - The financing will facilitate smoother planning of seasonal grain purchasing flows and enhance working capital management [2] - The trade financing structure utilized by "Linas Agro" is not available from local financial institutions, indicating a strategic move to diversify funding sources [3] Strategic Importance - The cooperation with Citibank is seen as a recognition of the operating standards of "Linas Agro" and the Akola Group, enhancing visibility in international markets [4] - This transaction is expected to strengthen the company's position within global export supply chains and support its continued expansion in international markets [4][5] Industry Context - Lithuanian farmers harvest approximately 7–8 million tonnes of cereals annually, with around 70% of the national wheat crop being exported [7]