Q1 2026 Alico Inc Earnings Call Transcript
Key Points
- Alico Inc (ALCO) generated $7.7 million in land sales during the first quarter, reflecting strong demand for its Florida properties.
- The company's net loss improved significantly to $3.5 million from a loss of $9.2 million in the prior year period.
- Alico Inc (ALCO) achieved positive EBITDA of $2.4 million, compared to a negative $6.7 million in the prior period.
- The company entered into a ten-year lease with Bayer Crop Science for an agricultural research station, achieving 97% utilization of its farmable agricultural acreage.
- Alico Inc (ALCO) closed on an additional sale of a large citrus grove for $26.8 million, enhancing its financial position.
- Total revenue for the first quarter decreased to $1.9 million from $16.9 million in the prior year period, primarily due to the conclusion of the citrus business.
- The Alico Citrus segment reported a gross loss of $6.5 million, indicating challenges in the citrus operations.
- Despite improvements, the company still reported a net loss attributable to common stockholders of $3.5 million.
- The company has not provided specific guidance on cash flow from its 97% farmland utilization rate, leaving some uncertainty for future projections.
- Alico Inc (ALCO) requires federal approvals from the Army Corps of Engineers and Fish and Wildlife for its Corkscrew Grove Villages project, which could delay progress.
(Operator Instructions) Good morning, and welcome to Alico's First Quarter 2026 earnings call. (Operator Instructions) As a reminder, today's call is being recorded.
I would now like to turn the call over to your host, John Mills, Managing Partner at ICR. Please go ahead.
Thank you. Good morning, everyone, and thank you for joining us for Alico's first quarter 2026 conference call. On the call today are John Kiernan, President and Chief Executive Officer, and Brad Heine, Chief Financial Officer. By now, everyone should have access to the first quarter 2026 earnings release, which went out yesterday at approximately 4:15 P.M. Eastern Time. If you've not had a chance to view the release, it's available on the investor relations portion of the company's website at alicoinc.com.
This call is being webcast and a replay will be available on Alico's website as well. Before we begin, we'd like to remind everyone that the prepared remarks contain forward-looking statements. Such
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