Alico Q2 loss deepens to $15.8M; writes down $17.7M in citrus inventory

ALICO, INC.

2024-Q2 EPS reported $3.56 revenue$32,098,000

Q2 net loss $15.8M vs $7.8M prior; diluted EPS -$2.07.
Six-month revenue flat at $32.1M; net income $27.1M vs prior loss $10.9M.
Inventory write-down of $17.7M from Hurricane Ian impact on Valencia harvest.
Agreement to sell 780 acres for ~$7.0M ($9k/acre) with option on 680 more; close expected July 2024.
Adjusted EBITDA $1.3M in Q2 (vs -$7.8M) but six-month adjusted EBITDA -$1.0M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

ALICO, INC. reported three and six months ended March 31, 2024 results: revenue $32.1 million, net income $27.1 million.

Period: three and six months ended March 31, 2024
Revenue: $32.1 million
Net income: $27.1 million
Result: reported results

Exact text from the filing

ALCO) today announces financial results for the second quarter of fiscal year 2024 and the six months ended March 31, 2024, the highlights of which are as follows: • Revenues of $32.1 million for the six months ended March 31, 2024 were relatively flat as compared to $31.9 million in the six months ended March 31, 2023. • Net income attributable to Alico, Inc. common

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Source: SEC EDGAR

accession 0000003545-24-000065

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