secwatch.observer — SEC 8-K summary
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Issuer:     ALICO, INC. (ALCO)
CIK:        0000003545
Form:       8-K
Filed at:   2024-02-07T23:59:59+00:00
Accession:  0000003545-24-000032
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/3545/000000354524000032/0000003545-24-000032-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/3545/000000354524000032/alco-20240207.htm
  HTML page:      https://secwatch.observer/filing/0000003545-24-000032

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