Alico Inc Stock Price, News & Analysis

Alico, Inc. (Nasdaq: ALCO) announced that CEO John Kiernan will present at two virtual investor conferences in November. The Stephens Annual Investment Conference is scheduled for November 18, 2020, with a fireside chat at 8:00 am ET, alongside virtual one-on-one meetings. The Sidoti Microcap Conference will take place on November 19, 2020, at 10:00 am ET, also featuring virtual meetings. Live broadcasts will be accessible via the Investor Relations section on Alico's website.

Alico, Inc. (Nasdaq: ALCO) announced the acquisition of approximately 3,280 gross citrus acres in Hendry County on October 30, 2020, for $16.45 million. This acquisition enhances Alico's existing 45,000 gross citrus acres, positioning it as a low-cost, high-producing citrus grower. The purchase utilized a like-kind exchange structure, deferring $4.0 million in taxes from a prior land sale. Alico operates primarily in citrus production and water resources, reaffirming its commitment to long-term leadership in the citrus industry.

Alico, Inc. has announced the sale of approximately 10,702 acres of Alico Ranch to the State of Florida for $28.5 million as part of the Florida Forever program. This sale is the second transaction between Alico and the State, totaling over 16,000 acres. The proceeds from this sale will be evaluated for strategic acquisitions, a potential increase in common share dividends, or land acquisitions. However, Alico has decided to halt its permit approval activities for the Alico Northern Everglades project due to the sale, yet remains committed to preserving Florida’s water resources.

FORT MYERS, Fla., Sept. 01, 2020 – Alico, Inc. (Nasdaq: ALCO) announced that its President and CEO, John Kiernan, will participate in one-on-one meetings during the Citi Virtual Growth Conference on September 18, 2020. Investors interested in scheduling a meeting should contact their Citi sales representative. Alico operates two main divisions: Alico Citrus, a major citrus producer, and Alico Water Resources, which focuses on water storage and environmental services.

Alico, Inc. (Nasdaq: ALCO) reported financial results for Q3 and the nine months ending June 30, 2020. Net income was $6.5 million, down 69.7% year-over-year, with earnings of $0.86 per diluted share. The decline was due to lower citrus prices and reduced box production. Alico has secured long-term Citrus supply agreements, providing better pricing through 2024. The company is projecting net income of $22-24 million and EBITDA of $49.5-52.5 million for fiscal 2020. Operationally, COVID-19 did not adversely affect business, and the recent appointment of new Board members aims to enhance strategic growth.

Alico, Inc. (Nasdaq: ALCO) has appointed two new members, Kate English and Adam Putnam, to its Board of Directors. English will join the Compensation Committee and Nominating and Governance Committee, while Putnam will serve on the Audit Committee and Nominating and Governance Committee. This expansion increases the board to nine members. Both appointees bring significant agricultural and land expertise, enhancing Alico's strategic leadership. Alico operates primarily in citrus production and water resources, aiming to drive profitability and shareholder value.

Alico, Inc. (Nasdaq: ALCO) announced today that CEO John Kiernan will participate in one-on-one meetings at the Oppenheimer 20th Annual Consumer Growth and E-Commerce Conference, scheduled for June 16-17, 2020. The conference will be held virtually, and interested parties can schedule meetings through Oppenheimer sales representatives. Alico is recognized for its dual operations: Alico Citrus, a major citrus producer, and Alico Water Resources, focusing on water storage and environmental services. For further details, visit www.alicoinc.com.

Alico, Inc. (Nasdaq: ALCO) has secured approval from the State of Florida for an option agreement allowing the State to purchase approximately 10,684 acres of Alico Ranch for $28.5 million under the Florida Forever program. This move aims to enhance conservation efforts, particularly for the Florida Panther and the Caloosahatchee River. The State's potential purchase is linked to Alico's dispersed water storage project, prompting Alico to suspend permit activities for this initiative temporarily. Alico remains committed to conservation and sustainable land management.

Alico, Inc. (Nasdaq: ALCO) announced on May 21, 2020, that it has secured two new supply agreements with its largest customer, effective from October 1, 2020, to July 31, 2024. These agreements replace an existing contract expiring in September 2020. Alico’s President, John Kiernan, highlighted the commitment to address challenges in the Florida citrus industry with these contracts, which will involve increasing pricing provisions over the next seasons. Alico operates in citrus production and water resource management.