secwatch.observer — SEC 8-K summary
======================================

Issuer:     ALICO, INC. (ALCO)
CIK:        0000003545
Form:       8-K
Filed at:   2024-05-06T23:59:59+00:00
Accession:  0000003545-24-000065
Event type: earnings
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/3545/000000354524000065/0000003545-24-000065-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/3545/000000354524000065/alco-20240506.htm
  HTML page:      https://secwatch.observer/filing/0000003545-24-000065

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer