Maui Ld & Pineap - MLP STOCK NEWS

Maui Land & Pineapple (NYSE: MLP) has appointed Race Randle as CEO and Scot Sellers as Chairman, effective April 1, 2023. Randle, a local real estate leader with extensive experience in sustainable community development, replaces Warren Haruki, who will serve as a senior advisor. Randle's notable past includes significant contributions to The Howard Hughes Corporation and a partnership with Google for mixed-use community developments. Sellers, with a 40-year background in real estate, supports Randle’s vision. The transitions aim to foster continued growth and profitability for MLP, enhancing its commitment to Maui's community and environment.

Maui Land & Pineapple Company (NYSE: MLP) reported a net loss of $124,000, or $0.01 per share, for Q3 2022, improved from a loss of $139,000 in Q3 2021. Total operating revenues increased to approximately $2.6 million, up from $2.4 million year-over-year. For the nine months ending September 30, 2022, net income surged to $9.8 million, or $0.50 per share, compared to $0.8 million, or $0.04 per share, in the same period of 2021. Total revenues for this period reached around $18.8 million, significantly higher than $9.4 million previously.

Maui Land & Pineapple Company (NYSE: MLP) reported a substantial net income of $10.5 million ($0.54 per share) for Q2 2022, up from $1.9 million ($0.10 per share) in Q2 2021. Total operating revenues grew to approximately $14.0 million from $5.0 million year-over-year. For the first half of 2022, net income reached $9.9 million ($0.51 per share), compared to $0.9 million ($0.05 per share) in the same period last year. The company finalized the sale of 646 acres in Upcountry Maui for $9.6 million in May 2022, bolstering its revenue stream.

Maui Land & Pineapple Company (MLP) reported a net loss of $618,000 or $(0.03) per share for Q1 2022, an improvement from a net loss of $934,000 or $(0.05) per share in Q1 2021. Total operating revenues increased to $2.25 million from $2.06 million year-over-year. The company had no real estate asset sales during this period. Current assets rose to $12.75 million, while total assets grew to $40.23 million. Liabilities also increased, totaling $16.60 million, impacting the overall equity standing of the company.

Maui Land & Pineapple Company (NYSE: MLP) reported a net loss of $(3.4) million, or $(0.18) per share, for the year ended December 31, 2021, up from a loss of $(2.6) million, or $(0.14) per share in 2020. Operating revenues rose to $12.4 million from $7.5 million. Comprehensive income turned positive at $2.6 million, compared to a loss of $(3.5) million in 2020. Notable was a pension gain adjustment of $6.0 million, significantly improving financial metrics. In Q4 2021, the company recorded a net loss of $(4.2) million, while revenues increased to $3.0 million from $2.1 million in Q4 2020.

Maui Land & Pineapple Company (NYSE: MLP) reported a net loss of $0.1 million, or $(0.01) per share, for Q3 2021, an improvement from a net loss of $0.6 million, or $(0.03) per share, in Q3 2020. Total operating revenues rose to $2.4 million from $1.7 million year-over-year. For the first nine months of 2021, the company achieved a net income of $0.8 million, or $0.04 per share, compared to a net loss of $1.9 million, or $(0.10) per share, in the same period of 2020. Total operating revenues for this period increased to $9.4 million from $5.4 million.

Maui Land & Pineapple Company (NYSE: MLP) reported a net income of $1.9 million ($0.10 per share) for Q2 2021, contrasting with a net loss of $0.2 million ($0.01 per share) in Q2 2020. Total operating revenues increased to $5.0 million from $1.7 million year-over-year. For the first half of 2021, net income was $0.9 million ($0.05 per share), compared to a loss of $1.2 million ($0.06 per share) in the same period of 2020. The company executed real estate sales worth $2.6 million during Q2 2021, with no sales recorded in the previous year.

Maui Land & Pineapple Company (MLP) reported a net loss of $934,000 or $(0.05) per share for Q1 2021, an improvement from a net loss of $1,074,000 or $(0.06) per share in Q1 2020. Total operating revenues slightly rose to $2.06 million compared to $2.04 million in 2020. Notably, MLP sold its regulated utility assets on May 1, 2021, generating $4.2 million in net proceeds. The company continues to own approximately 23,000 acres in Maui and manages various properties and utilities.

Maui Land & Pineapple Company (NYSE: MLP) reported a net loss of $2.6 million or $(0.14) per share for 2020, an improvement from a $10.4 million loss in 2019. Total revenues decreased to $7.5 million in 2020 from $10.0 million the previous year. The COVID-19 pandemic significantly affected tourism, impacting operating revenues from real estate and club memberships. The fourth quarter of 2020 also showed a net loss of $0.7 million compared to $9.1 million in Q4 2019. The company managed a slight recovery through cash collateral recovery and a land sale.