---
schema_version: "secwatch.filing_event.v1"
accession: "0000003545-24-000032"
form_type: "8-K"
ticker: "ALCO"
cik: "0000003545"
company_name: "ALICO, INC."
filed_at: "2024-02-07T23:59:59+00:00"
generated_at: "2026-06-06T07:24:24.459098+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Alico reports Q1 net income $42.9M on $77.6M land sale; adjusted EBITDA negative

## Summary
- Net income $42.9M ($5.64 diluted EPS) vs loss of $3.2M in prior year quarter, driven by land sale.
- Closed sale of 17,229 acres of Alico Ranch to State of Florida for $77.6M on Dec 21, 2023.
- Adjusted EBITDA loss of $2.3M; $10.8M inventory write-down from Hurricane Ian impact on box production.
- Repaid all working capital line and $19.1M Met Life loans with >7% interest; debt ratio improved to 0.19.
- Net cash used in operations $13.2M vs $9.7M prior year, reflecting ongoing operational headwinds.

## SEC filing metadata
- accession: 0000003545-24-000032
- form_type: 8-K
- ticker: ALCO
- cik: 0000003545
- company_name: ALICO, INC.
- filed_at: 2024-02-07T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/3545/000000354524000032/0000003545-24-000032-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/3545/000000354524000032/alco-20240207.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000003545-24-000032
- JSON: https://secwatch.observer/filing/0000003545-24-000032.json
- Plain text: https://secwatch.observer/filing/0000003545-24-000032.txt

## Key facts
- Earnings Releases
  ALICO, INC. reported the first fiscal quarter ended December 31, 2023 results: net income $42.9 million, EPS $5.64 per diluted common share.
  - Period: the first fiscal quarter ended December 31, 2023
  - Net income: $42.9 million
  - EPS: $5.64 per diluted common share
  - Result: reported results
  source text: On February 7, 2024, Alico, Inc. (the “Company”) issued a press release announcing its financial results for the three months ended December 31, 2023
  evidence_url: https://www.sec.gov/Archives/edgar/data/3545/000000354524000032/0000003545-24-000032-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.