In This Article:
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Revenue: Decreased 1% to $18 million for the quarter; decreased 9% to $34.9 million for the six months ended March 31, 2025.
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Citrus Harvest: 4.7 million pound solids for the quarter; 8.7 million pound solids for the six months, down from 5.8 million and 10.4 million respectively in the prior year.
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Blended Price per Pound Solids: Increased by $0.70 for the quarter and $0.85 for the six months compared to the prior year.
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Land Management and Other Operations Revenue: Increased 107% for the quarter and 74% for the six months compared to the prior year.
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Total Operating Expenses: $167.7 million for the quarter; $192.8 million for the six months, driven by $118 million of non-cash accelerated depreciation.
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Net Loss: $111.4 million for the quarter, compared to $15.8 million in the prior year.
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Loss per Diluted Common Share: $14.58 for the quarter, compared to $2.07 in the prior year.
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EBITDA: Loss of $14.7 million for the quarter; adjusted EBITDA of $12.7 million.
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Cash and Cash Equivalents: $14.7 million as of March 31, 2025.
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Net Cash Used in Operating Activities: $0.6 million for the six months ended March 31, 2025.
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Total Debt: $89.6 million as of March 31, 2025; net debt of $74.9 million.
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Projected Cash Balance: Approximately $25 million by fiscal year-end 2025.
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Projected Net Debt: Approximately $60 million by fiscal year-end 2025.
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Projected Adjusted EBITDA: Approximately $20 million for fiscal year 2025.
Release Date: May 14, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Alico Inc (NASDAQ:ALCO) completed its fiscal year 2025 harvest, concluding the majority of its capital investment in citrus operations.
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The company has successfully reduced its workforce from approximately 200 employees to 25, significantly lowering operating expenses.
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Alico Inc (NASDAQ:ALCO) raised its outlook for land sales, potentially achieving an additional $30 million, a 150% increase from prior guidance.
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The company is actively diversifying its agricultural activities, including potential sod production and expanding sand mining activities.
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Alico Inc (NASDAQ:ALCO) announced a $50 million share repurchase program, indicating a strong capital allocation strategy.
Negative Points
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Revenue decreased by 1% for the quarter and 9% for the six months ended March 31, 2025, compared to the prior year periods.
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The company reported a net loss attributable to Alico Common's shareholders of $111.4 million, significantly higher than the previous year's loss.
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Operating expenses increased substantially due to approximately $118 million of non-cash accelerated depreciation.
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The impact of Hurricane Milton in October 2024 led to lower harvest volumes compared to the previous year.
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General and administrative expenses increased due to accelerated depreciation and higher legal fees related to the strategic transformation.