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 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]