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. (NASDAQ: ALCO) is a Florida-based agribusiness and land management company that has reported a strategic shift from traditional citrus production to operating as a diversified land company. The Alico news stream highlights this transformation, covering announcements on land sales, agricultural leasing, development projects and capital structure decisions that shape the company’s long-term direction.
Recent news releases describe Alico’s progress in monetizing selected groves, entering new lease agreements and increasing utilization of its farmable acreage. The company reports that its land management programs now involve fee-based or revenue-sharing arrangements with citrus growers, cattle operators, mining operators, sugarcane producers and sod farming and leasing partners. These updates provide insight into how Alico is using its land portfolio to generate diversified revenue while reducing operational complexity.
News items also focus on Alico’s strategic land development initiatives, particularly the Corkscrew Grove Villages concept in eastern Collier County. Articles discuss entitlement efforts, the creation of the Corkscrew Grove Stewardship District, and a partnership with the Florida Department of Transportation to design and construct a wildlife underpass associated with a planned wildlife corridor. In addition, the news flow includes earnings announcements, conference presentations, credit agreement amendments and board-level actions such as share repurchase authorizations.
Investors and observers who follow Alico’s news can track how management executes its Strategic Transformation, manages its balance sheet and advances development and conservation projects. This page aggregates company-issued updates and related coverage so readers can review the evolution of Alico’s diversified land and agribusiness strategy over time.
Alico (Nasdaq: ALCO) announced its financial results for Q3 and nine months ending June 30, 2024. Revenue rose 86.8% year-over-year to $13.61 million for Q3 and 16.7% to $45.71 million for the nine months. Net income fell 117.3% in Q3 to a loss of $(2.04) million, but surged to $25.1 million for the nine months due to gains from land sales. The company’s new three-year contract with Tropicana offers a 33%-50% price increase.
The balance sheet remained strong with $94.8 million available under lines of credit and a 2.67 working capital ratio. Alico also sold 798 acres of citrus land for $7.2 million and has an option to sell an additional 680 acres within nine months for the same price per acre. Production is expected to grow due to treatments of 4.5 million trees with Oxytetracycline.
Adam Putnam will become Chairman in February 2025. Despite a net loss in Q3, Alico is optimistic about 2025 with higher pricing and production recovery post-Hurricane Ian.
Alico (Nasdaq: ALCO) has announced the release of its third quarter 2024 financial results, scheduled for Monday, August 5, 2024, after market close. The company will host a conference call to discuss these results on Tuesday, August 6, 2024, at 8:30 AM Eastern Time. Interested parties can join the call by dialing 1-800-343-5172 (US) or 1-203-518-9856 (international). The participant identification for the call is ALICO. A telephone replay will be available approximately three hours after the call concludes until August 20, 2024. US listeners can access the replay at 1-844-512-2921, while international listeners can dial 1-412-317-6671. The passcode for the playback is 11156508.
Alico (Nasdaq: ALCO) has announced a new supply contract with Tropicana Brands Group to supply citrus fruit from June 5, 2024, to July 31, 2027. This agreement covers about 65% of Alico's currently planted acres and offers prices per pound solids that are 33% to 50% higher than last season's average. Alico's existing contract with Tropicana will continue through the 2024-25 harvest season. John Kiernan, Alico’s CEO, emphasized the long-term relationship and commitment to addressing challenges in the Florida citrus industry. Alico operates two main divisions: Alico Citrus and Land Management.
Alico has appointed Mitch Hutchcraft as Executive Vice President of Real Estate, effective May 28, 2024. The company, which owns approximately 54,500 acres of real estate across seven Florida counties, is committed to its citrus operations while also exploring the highest and best use of its land. Hutchcraft, previously with King Ranch, brings over 30 years of experience in land acquisition, entitlement, and strategic planning. His notable projects include Kingston, a 6,600-acre development. Alico's CEO, John Kiernan, praised Hutchcraft's ability to lead in optimizing the company's real estate portfolio.
Alico, Inc. announces financial results for the second quarter and six months ended March 31, 2024, with revenues of $32.1 million. Net income of $27.1 million and EBITDA of $47.3 million. An inventory write-down of $17.7 million due to lower box production. Oxytetracycline treatment increases yield. Negotiating new citrus supply agreements. Sale of underperforming land for $7.0 million. Strong balance sheet with $95.0 million available credit.
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