Alico, Inc., based in Fort Myers, Florida, has reported financial results for the third quarter ended June 30, 2025, marking the completion of its final major citrus harvest as part of its transition toward diversified land use.
© Alico
President and CEO John Kiernan said the harvest concludes most of the company's capital-intensive citrus operations, with resources now being directed toward long-term land development and diversified usage. In the quarter, the company generated US$9.3 million from land and equipment sales and received US$16 million in crop insurance proceeds. Kiernan noted that in June, the Florida Legislature approved the creation of the Corkscrew Grove Stewardship District to support financing infrastructure, managing natural areas, and administering master planned communities. A five-member board of supervisors has been appointed to work with government agencies and community stakeholders.
For the three months ended June 30, 2025, Alico reported a net loss attributable to common stockholders of US$18.3 million, compared to a US$2.0 million loss in the same period last year. The increase was mainly due to approximately US$40.7 million of accelerated depreciation tied to citrus trees following the decision to wind down citrus operations, as well as lower revenues linked to Hurricane Milton in October 2024. This was partly offset by US$16.0 million in crop insurance proceeds and a US$7.8 million tax benefit, compared to a US$0.9 million benefit last year. Loss per share was US$2.39 compared to US$0.27 a year earlier.
EBITDA for the quarter was US$19.2 million compared to US$1.3 million in the prior year. Adjusted EBITDA was US$19.3 million versus US$1.3 million in the same period last year. The seasonal nature of citrus harvesting typically results in most gross profit and operating cash flow being recorded in the second and third quarters, but the company expects this pattern to diminish as citrus operations wind down.
For the three and nine months ended June 30, 2025, Alico Citrus harvested approximately 2.1 million and 10.8 million pounds of solids of fruit, compared to 4.3 million and 14.7 million pounds of solids in the same periods last year. The decline was attributed to fruit drop caused by Hurricane Milton. The blended price per pound solids increased by US$0.81 and US$0.85 for the three and nine months, respectively, due to more favorable pricing in one of the company's then-existing contracts with Tropicana.
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For more information:
John Mills
ALICO
Tel: +1 (646) 277-1254
Email: [email protected]
Brad Heine
Tel: +1 (239) 226-2000
Email: [email protected]
www.ir.alicoinc.com
