Alico Stock Earnings Reports

Alico is executing a Strategic Transformation from citrus operations to a diversified land company. Management completed the majority of the 2025 citrus harvest and reduced the workforce from ~200 to 25 to align with the new model. The company has sold 2,100 acres year-to-date and has raised its outlook — indicating the potential for an additional $30 million (bringing total potential land sales to >$50 million) in fiscal 2025, which management says could materially boost adjusted EBITDA and cash. Alico is negotiating leases for ~5,250 acres with third-party citrus growers, and other growers may clear ~1,000 acres in lieu of lease payments. Entitlement work is advancing on multiple development projects, highlighted by the Corkscrew Grove Villages application (east village submitted; approvals could take ~1 year with construction possible in 2028–2029), and four near-term development properties (~5,500 acres) are estimated at $335–$380 million present value. The company amended its credit agreement to reduce costs and increased capital return flexibility, announcing a $50 million share repurchase program while maintaining a quarterly dividend. Financially, Q2 revenue was roughly flat year-over-year, harvest volumes declined (impacted by Hurricane Milton), and GAAP results include large non-cash charges (~$118M accelerated depreciation plus a $25M impairment) that drove a sizable net loss. Adjusted EBITDA was positive ($12.7M) for the quarter, cash increased to $14.7M, available capacity on the credit line is ~$88.5M, and management forecasts year-end cash of ~ $25M, net debt of ~$60M and ~ $20M in adjusted EBITDA for fiscal 2025 (subject to land-sale timing).