Alico(US:ALCO)2025-11-25 14:32Financial Data and Key Metrics Changes - For the fourth quarter ended September 30, 2025, revenue was $802,000 compared to $935,000 in the prior year quarter, reflecting the conclusion of citrus operations [15] - The net loss attributable to Alico common stockholders was $8.5 million, or $1.11 per diluted share, an improvement from a net loss of $18.1 million, or $2.38 per diluted share in the prior year quarter [15] - For the full fiscal year, revenue was $44.1 million compared to $46.6 million in fiscal 2024, with a net loss of $147.3 million primarily due to non-cash charges related to the strategic transformation [16] - Adjusted EBITDA for fiscal 2025 was $22.5 million, exceeding the $20 million guidance target [16] - The company ended fiscal year 2025 with $38.1 million in cash, significantly up from $3.2 million at the end of fiscal 2024, and reduced net debt to $47.4 million from $89 million [16] Business Line Data and Key Metrics Changes - The final major citrus harvest was completed, marking the end of capital-intensive citrus production operations [4] - Land sales generated $23.8 million from 2,796 acres sold during fiscal 2025, surpassing the $20 million target [17] - Approximately 5,250 acres have been leased to third-party citrus growers, with strong interest from other agricultural sectors [9] Market Data and Key Metrics Changes - The establishment of the Corkscrew Grove Stewardship District was approved by the Florida Legislature, validating the development strategy [7] - The entitlement process for the Bonnet Lake property is progressing as expected, with four near-term real estate development projects maintaining an estimated present value of between $335 million and $380 million [8] Company Strategy and Development Direction - Alico has transitioned from a traditional citrus producer to a diversified land company, focusing on sustainable long-term value creation and conservation [4] - The company aims to optimize agricultural operations and advance residential and commercial development projects, particularly focusing on securing final approvals for Corkscrew Grove Villages [12] - Alico's approach balances high-value development projects with diversified agricultural operations, with 25% of land identified for development and 75% remaining for agriculture [9] Management's Comments on Operating Environment and Future Outlook - Management emphasized the successful execution of the transformation and the elimination of citrus agricultural volatility, unlocking value in the land portfolio [18] - The company believes it is well-capitalized and strategically focused, with multiple catalysts for value creation in the coming years [19] Other Important Information - Alico has returned over $190 million of capital to shareholders since 2015 through dividends, share repurchases, and debt reduction [10] - The company has a market capitalization of approximately $240 million, with a net debt of $47.4 million, indicating a significant valuation disconnect compared to the estimated land portfolio value of $650 million to $750 million [19] Q&A Session Summary Question: What is the expected cadence of the land sales in the next 12 months? - Management has not provided guidance on additional land sales for fiscal year 2026 [22]