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Maui Land & Pineapple Company (NYSE: MLP) combines land stewardship with strategic development across its diversified portfolio. This news hub provides investors and stakeholders with timely updates on the company's real estate projects, agricultural operations, and community initiatives in Hawaii.
Access official press releases covering land sales, commercial leasing agreements, and resort management developments at Kapalua. Stay informed about earnings announcements, sustainability efforts in pineapple cultivation, and partnerships supporting Maui's economic growth.
All content is sourced directly from MLP communications and verified financial disclosures. Bookmark this page for neutral, factual updates on one of Hawaii's most established land management companies. Check regularly for new developments impacting long-term asset value and regional community building.
Maui Land & Pineapple Company (NYSE: MLP) reported its fiscal 2024 results, showing increased operating revenues of $11.57 million, up 25% from $9.29 million in 2023. The company's performance included:
- Land development and sales revenues of $520,000, including $320,000 from the Honokeana Homes Relief Housing Project
- Leasing revenues increased 14% to $9.62 million
- Resort amenities revenue grew 72% year-over-year
However, MLP reported a net loss of ($7.39 million), or ($0.38) per share, compared to ($3.08 million) in 2023, primarily due to non-cash stock compensation expenses. The company ended 2024 with $9.52 million in cash and convertible investments, up from $8.84 million in 2023. Twelve non-strategic assets are identified for sale, including properties in West Maui, Upcountry Maui, and Hana, with three parcels actively listed at $10.9 million.
Maui Land & Pineapple Company (NYSE: MLP) reported strong Q3 2024 results with an 18.6% revenue increase compared to last year. The company's leased area grew by 19%, driven by strategic investments in commercial properties. Operating revenues reached $8.15 million for the nine months ended September 30, 2024. However, the company recorded a net loss of $5.48 million, primarily due to non-cash expenses related to share-based compensation of $4.67 million. The company is progressing with planning on over 3,500 acres in West Maui and 600 acres in Hali'imaile, while also leasing 50 acres to the State of Hawaii for temporary housing following the Maui wildfires.
Maui Land & Pineapple Company (NYSE: MLP) reported financial results for the six months ended June 30, 2024. The company experienced positive momentum with a 24% increase in commercial real estate occupancy and a 7.5% growth in overall operating revenue. Key highlights include:
- Land sales revenue increased by $181,000
- Leasing revenues rose by $70,000 to $4,388,000
- Resort amenities revenue grew by $107,000
- Operating revenues totaled $5,128,000, up $358,000 year-over-year
- Net loss was $3,247,000, or $0.17 per share
- Adjusted EBITDA was ($251,000)
- Cash and investments convertible to cash totaled $6,960,000
The company focused on repositioning commercial centers, supporting local businesses, and improving land productivity. New leases were secured in West Maui and Hali'imaile, and two senior leaders were hired to advance asset optimization and development efforts.
Maui Land & Pineapple Company (NYSE: MLP) announced its fiscal 2024 Q1 results covering the period ending March 31, 2024. Despite challenges from the 2023 Maui wildfires, the company achieved an 8% revenue growth year-over-year, reaching $2.48 million. Leasing revenues rose by $139,000, indicating increased economic activity and successful efforts to fill vacancies. However, operating costs also climbed to $3.88 million, leading to a net loss of $1.38 million or $0.07 per share. Adjusted EBITDA for the quarter was negative at $197,000. Cash and investments convertible to cash totaled $8.55 million, reflecting a decrease due to strategic investments. Jonathan Grobe was appointed as the new VP of Real Estate, effective April 1, 2024.
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