Alico Reports Q3 Fiscal 2024 Results: Revenue Up 86.8% but Net Loss of $2.0M

ALICO, INC.

2024-Q3 EPS reported $3.29 revenue$45,708,000

Revenue for Q3 ended June 30, 2024 was $13.6M, up 86.8% from $7.3M in prior year.
Net loss attributable to Alico common stockholders was $2.0M (loss per share $0.27) vs. net income of $11.8M in Q3 2023.
Entered three-year agreement to sell oranges to Tropicana at prices 33% to 50% higher than prior season average.
Treated 4.5 million producing trees with Oxytetracycline to support production growth in 2024-25 harvest.
Sold 798 acres of citrus land for $7.2 million ($9,000 per acre) with option for buyer to purchase remaining 680 acres.

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