Financial Data and Key Metrics Changes - The company has transitioned from being a major citrus producer to focusing on real estate development due to unsustainable economic conditions in the citrus industry, particularly affected by a disease called greening [2][3] - The company reported a significant increase in stock value, with a 40% rise last year, marking the best performance in 65 years [25][26] - The current market capitalization is approximately $280 million, while the present value of assets is estimated between $650 million and $750 million [22][35] Business Line Data and Key Metrics Changes - The company owns over 50,000 acres of land, with 75% currently used for agricultural purposes and 25% earmarked for future residential and commercial development [7][8] - The company has been actively leasing agricultural land to generate cash flow while planning for future development [5][28] - Last year, the company sold approximately $23 million in land assets, with expectations for increased sales this year [28] Market Data and Key Metrics Changes - The company is focusing on the real estate market in Florida, particularly in areas with high development potential, such as Collier County [10][11] - The Corkscrew Grove Village Project is a significant development initiative that aims to create 9,000 houses and commercial spaces, highlighting the company's shift towards real estate [10][11] Company Strategy and Development Direction - The company is prioritizing the entitlement process for its land to maximize its value and is working with local professionals to ensure efficiency [8][10] - Alico is committed to sustainability and conservation, having allocated 1,200 acres for wildlife corridors and investing in wildlife crossings [19][20] - The company aims to diversify its revenue streams through leasing and real estate development while maintaining agricultural operations [5][6] Management's Comments on Operating Environment and Future Outlook - Management acknowledges the challenges faced in the citrus industry and emphasizes the need for transformation to ensure long-term viability [2][3] - The company is optimistic about the future, with plans to increase utilization rates of leased land and achieve milestones in the entitlement process [28][29] - Management is focused on maintaining a strong balance sheet and managing cash flow effectively to support ongoing operations and potential shareholder returns [38][39] Other Important Information - The company has a history of returning capital to shareholders, with approximately $200 million returned over the last decade through dividends and buybacks [33] - Alico has a 10b-5 program approved for potential share buybacks, indicating a proactive approach to managing shareholder value [31][32] Q&A Session Summary Question: What is the company's strategy for returning cash to shareholders? - The company is considering various options, including maintaining a common dividend and potential share buybacks if discretionary cash flow allows [30][31] Question: Can the company provide an approximate value for the developments expected? - The estimated present value of the company's assets is between $650 million and $750 million, with ongoing assessments as land sales are realized [35][36]

Financial Data and Key Metrics Changes - The company has transitioned from being a major citrus producer to focusing on real estate opportunities due to unsustainable economic conditions in the citrus industry, particularly due to a disease affecting citrus trees [2][3] - The company reported a cash balance of approximately $38 million at the end of the fiscal year, with net debt reduced from around $215 million to $48 million over the past decade [38] Business Line Data and Key Metrics Changes - Currently, the company owns over 50,000 acres of land, with 75% still utilized for agricultural purposes while 25% is earmarked for potential residential or commercial development [6][9] - The company has diversified its revenue streams by leasing agricultural land to operators, which has proven effective in generating cash flow [5][29] Market Data and Key Metrics Changes - The market capitalization of the company is approximately $280 million, while the present value of its assets is estimated between $650 million and $750 million [23][36] - The company achieved a 40% increase in stock price over the past year, marking its best performance in 65 years [26][34] Company Strategy and Development Direction - The company is focusing on repurposing land for higher value uses, with plans for residential and commercial developments, including the Corkscrew Grove Village Project, which aims to create around 9,000 houses [11][12] - The company is actively working on the entitlement process for its land, with a strong emphasis on efficiency and community outreach to gain necessary approvals [9][16] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges posed by the current operating environment but expressed optimism about the company's strategic shift and the potential for future growth through real estate development [3][30] - The company plans to continue monetizing its land through leasing and sales, with expectations of increased utilization rates and more milestones in the entitlement process [29][30] Other Important Information - The company has a history of strong conservation efforts, which aids in gaining support from local, state, and federal authorities for its development projects [17][21] - The company has committed over $5 million to construct a wildlife crossing to enhance conservation efforts, demonstrating its commitment to sustainability [20][21] Q&A Session Summary Question: What is the company's strategy regarding cash returns to shareholders? - The company maintains a common dividend and has a share buyback program approved for up to $50 million, which will be considered if discretionary cash flow allows [31][33] Question: What is the expected value of the developments? - The company estimates the present value of its assets to be between $650 million and $750 million, with ongoing assessments as land sales are realized [36]

Core Insights - Alico, Inc. has successfully transitioned from a traditional citrus producer to a diversified land company, with a strategic focus on land development and agricultural operations [2][3][25] - The company reported a net loss of $147.3 million for the fiscal year ended September 30, 2025, primarily due to accelerated depreciation and impairments, despite achieving an Adjusted EBITDA of $22.5 million [3][4][6] - Alico's land sales reached $23.8 million, exceeding guidance, and the company ended the fiscal year with $38.1 million in cash, providing financial flexibility through fiscal year 2027 [3][4][19] Financial Performance - For the fiscal year ended September 30, 2025, Alico's total revenue was $44.1 million, a decrease of 5.5% from $46.6 million in 2024 [4][35] - The net loss attributable to Alico common stockholders was $147.3 million, compared to a net income of $7.0 million in the previous year, reflecting a significant decline [4][35] - Adjusted EBITDA for the fiscal year was $22.5 million, down from $29.7 million in 2024, indicating challenges in operational performance [6][35] Citrus Operations - Alico harvested 2.3 million boxes of citrus fruit in fiscal year 2025, a decrease of 25.9% from the previous year, primarily due to Hurricane Milton's impact [9][35] - The average realized price per pound solids increased from $2.81 to $3.66, benefiting from favorable pricing contracts [9][35] Land Management and Development - Approximately 25% of Alico's land holdings are earmarked for strategic development, while 75% remain in diversified agriculture, creating a balanced platform for growth [2][3] - The Corkscrew Grove Villages project is a significant development initiative, expected to provide economic benefits and enhance public infrastructure in Collier County [16][17] - Alico has established the Corkscrew Grove Stewardship District to finance infrastructure and manage natural areas, supporting the Corkscrew Grove Villages project [18][19] Conservation Efforts - Alico has a long-standing commitment to conservation, having transferred lands to various protected areas and plans to place an additional 6,000 acres into permanent conservation as part of its development projects [21][22][23] - The company sold over 17,000 acres of land to the Florida Department of Environmental Protection as part of the Florida Forever program, enhancing connectivity between conservation lands [22][23] Balance Sheet and Liquidity - As of September 30, 2025, Alico reported cash and cash equivalents of $38.1 million and a net debt of $47.4 million, indicating a strong liquidity position [4][19] - The company's current ratio was 9.56 to 1.00, reflecting robust working capital management [19][20]

Financial Data and Key Metrics Changes - For Q3 FY2025, revenue decreased by 38% to $8.4 million compared to $13.6 million in the prior year period [11] - For the nine months ended June 30, 2025, revenue decreased by 5% to $43.3 million compared to $45.7 million in the prior year period [11] - Net loss attributable to common stockholders for Q3 FY2025 was $18.3 million, compared to a loss of $2 million in the same period last year [14] - EBITDA for Q3 FY2025 was $19.2 million, compared to $1.3 million for Q3 FY2024 [16] - Cash and cash equivalents increased to $42.1 million as of June 30, 2025, from $3.2 million at the end of FY2024 [16] Business Line Data and Key Metrics Changes - Citrus harvest volumes for Q3 FY2025 were approximately 2.1 million pound solids, down from 4.3 million pound solids in Q3 FY2024 [11] - Land Management and other operations revenue increased by 5768% for Q3 FY2025, primarily due to increased rock and sand royalty income and sod sales [12] - The company completed its last major citrus harvest in April 2025, marking a shift away from capital-intensive citrus operations [5][18] Market Data and Key Metrics Changes - The company achieved $9.3 million from combined land and equipment sales in Q3 FY2025, with year-to-date land sales reaching $23.5 million, exceeding the original guidance of $20 million [6][20] - The estimated present value of near-term real estate development projects is between $335 million and $380 million, representing significant value from just 10% of land holdings [9] Company Strategy and Development Direction - The company is transitioning to a diversified land company model, focusing on land development and diversified usage strategies [5][18] - The approval of House Bill 4,041 for the Corkscrew Grove Stewardship District is a significant regulatory milestone that supports the company's development strategy [7][19] - The company is maintaining a balance between high-value property development and diversified agricultural operations [10][21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to deliver enhanced long-term returns for shareholders, with expectations of approximately $20 million in adjusted EBITDA for FY2025 [20][21] - The company is positioned to end the fiscal year with at least $25 million in cash and sufficient liquidity to fund operations through FY2027 [20] Other Important Information - The company has no significant debt maturities until 2029, with total debt at $85.2 million and net debt at $43.2 million as of June 30, 2025 [17] Q&A Session Summary Question: Are you currently in discussions for additional land sales? - Management indicated that discussions are ongoing, but the timing for closing these transactions is uncertain, potentially rolling into FY2026 [25][26] Question: What are potential milestones to watch for regarding Corkscrew? - Management noted that external variables could affect the entitlement process, but they remain confident in the timeline for securing permits [27][28] Question: Will Alico partner with other groups on development? - Currently, Alico is handling the entitlement process independently, with no immediate need for partners, but they have options for future partnerships [29][30][31]

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 transitioning its business focus from citrus production to long-term diversified land usage and real estate development due to environmental and financial challenges faced in the citrus industry [2]. Group 1: Company Overview - Alico, Inc. 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]. - Alico Citrus will cease operations after the current crop is harvested in the first half of 2025 [2]. Group 2: Investor Engagement - John Kiernan, President and CEO of Alico, will host one-on-one meetings with investors at the BMO Global Farm to Market Conference on May 14-15, 2025, in New York City [1].

Core Viewpoint - Alico, Inc. is set to release its financial results for the second quarter ended March 31, 2025, on May 13, 2025, after market close [1] Financial Results Announcement - The company will host a conference call on May 14, 2025, at 8:30 am Eastern Time to discuss the financial results [2] - Interested parties can join the call by dialing specific numbers for the United States and international participants, with the participant identification being ALICO [2] Telephone Replay Information - A telephone replay of the conference call will be available approximately three hours after the call concludes on May 14, 2025, and will remain accessible until May 28, 2025 [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. 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 [4] - Alico Citrus will wind down operations after the current crop is harvested in the first half of 2025 due to environmental and financial challenges [4] - The company remains committed to Florida's agriculture industry and will focus on a long-term diversified land usage and real estate development strategy [4]

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].