Welcome to our dedicated page for Alico news (Ticker: ALCO), a resource for investors and traders seeking the latest updates and insights on Alico stock.
Alico Inc. reports developments as a Florida agribusiness and land management company that has shifted toward a diversified land-company model. Recurring updates cover land sales, agricultural leasing, rock and sand royalty revenue, and agricultural operations tied to the company’s Florida acreage portfolio.
Company news also includes progress on strategic land development, including Corkscrew Grove East Village and the broader Corkscrew Grove Villages project in Southwest Florida. Other recurring themes include financial results, capital-return actions, development entitlements, permitting matters, and investor conference participation.
Alico, Inc. (Nasdaq: ALCO) reported a significant increase in net income for Q1 FY2021, reaching $3.8 million ($0.51 per share), up from $0.8 million ($0.11 per share) in Q1 FY2020. The company benefited from a higher market price per pound solids, rising 20.3% to $2.25, despite a 14.6% decrease in total boxes harvested. Additionally, Alico reaffirmed its FY2021 guidance for net income between $7.5 million and $10 million. Alico's balance sheet remains robust with a working capital ratio of 3.21 to 1.00 and $4.1 million received from the Florida Citrus Recovery Block Grant Program.
Alico, Inc. (Nasdaq: ALCO) will release its financial results for the first quarter ended December 31, 2020, on February 4, 2021, before market open. A conference call to discuss these results will take place at 8:30 AM ET on the same day. Interested parties can join by calling (877) 407-0792 or (201) 689-8263 from outside the U.S. A live webcast will also be accessible through the Investor Relations section of the Company's website.
Alico, a leading citrus producer, is set to present at the 23rd Annual ICR Conference virtually from January 11-14, 2021. The CEO, John Kiernan, will deliver the presentation on January 12, 2021, at 8:30 am Eastern time. This conference provides an opportunity for the company to engage in one-on-one and small group meetings with investors.
Alico operates primarily through its Citrus and Land Management divisions, focusing on citrus production and related environmental services.
Alico announced that the State of Florida approved an option agreement for the purchase of approximately 5,804 acres of Alico Ranch for about $14.6 million under the Florida Forever program. This land is significant for the habitat of the endangered Florida panther. If exercised, the closing is anticipated in the third quarter of fiscal 2021. Over the past two years, Alico has sold about 16,000 acres to the state for conservation, enhancing protections for biodiversity and local ecosystems.
Alico, Inc. (ALCO) reported a net income of $23.7 million and EBITDA of $51.8 million for fiscal year 2020, but adjusted net loss of $1.2 million reflects market challenges. The company harvested approximately 7.6 million boxes, down 6.6%. Citrus prices fell significantly, reducing earnings per diluted share from $5.05 to $3.16 year-over-year. Alico's ongoing land transactions and a 100% dividend increase to $0.18 per share signal a strategic focus on growth. For fiscal 2021, Alico projects net income between $7.5 million and $10 million, with EBITDA guidance of $29 million to $33 million.
Alico (Nasdaq: ALCO) announced participation in the Roth Virtual Deer Valley Consumer Event from December 9-11, 2020. John Kiernan, President and CEO, will engage in virtual meetings on December 11. Interested parties can arrange meetings through their Roth sales representatives.
Alico, primarily involved in citrus production and water resource management, is one of the largest citrus producers in the U.S. For further details, visit www.alicoinc.com.
Alico, Inc. (Nasdaq: ALCO) plans to release its financial results for Q4 and the full year ending September 30, 2020, on December 8, 2020, before market open. The company will hold a conference call at 8:30 AM ET to discuss these results. Interested participants can join via phone or access a live webcast through their Investor Relations webpage. This marks an important opportunity for investors to assess Alico's performance and outlook. Alico operates primarily in citrus production and water resources, two critical sectors for its business.
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.