Alico, Inc. has released its financial results for the fourth quarter and fiscal year ending September 30, 2025, reporting a continued shift away from traditional citrus operations toward a diversified land-management strategy. The company completed what it describes as its final major citrus harvest while advancing multiple land development projects through the entitlement process.
For the fiscal year, Alico reported a net loss attributable to common stockholders of $147.3 million, compared with net income of $7.0 million the previous year. The loss was largely attributed to $162.7 million in accelerated depreciation, $25.0 million in impairments related to young trees and long-lived assets, and reduced gains on the sale of property and equipment. These impacts were partially offset by $20.4 million in crop insurance proceeds related to Hurricane Milton, reduced inventory adjustments, and a shift to an income-tax benefit of $38.4 million.
© Alico
Adjusted EBITDA for the year was $22.5 million, compared with $29.7 million in the prior year after adjusting both periods for impairments and restructuring-related items. Alico reported land-sale proceeds of $23.8 million, above its stated target of $20 million. The company ended the fiscal year with $38.1 million in cash and $85.5 million in total debt, resulting in net debt of $47.4 million. Management stated that available cash is expected to cover operating expenses through fiscal year 2027.
Chairman and CEO John Kiernan said the company is now operating as a diversified land company, with roughly 25 percent of landholdings identified for development opportunities and 75 percent remaining in agricultural use. He described the next phase of the strategy as focusing on agricultural leasing, cost controls, and advancing development-ready properties. Kiernan referenced the Corkscrew Grove Villages project in Florida, noting that regulatory milestones are underway and that a final decision from Collier County is anticipated in 2026. He also cited progress on the Bonnett Lake property.
Alico Citrus harvested 2.3 million boxes during the 2025 fiscal year, a decrease of 25.9 percent from the previous year. The decline was attributed to fruit drop following Hurricane Milton in October 2024. Despite reduced volumes, the company's average realized price per pound solids increased from $2.81 to $3.66 due to improved contract pricing with Tropicana.
Alico noted that citrus revenue is typically concentrated in the first and second fiscal quarters, with working-capital needs higher in the third and fourth quarters. As a result, quarterly results are not considered indicative of full-year performance.
The company stated that its ongoing transition includes reducing exposure to traditional citrus production while focusing on land sales, leasing, and long-term development opportunities.
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For more information:
John Mills
Alico
Tel: +1 646 277 1254
Email: [email protected]
www.alicoinc.com
Brad Heine
Alico
Tel: +1 239 226 2000
Email: [email protected]
