secwatch.observer — SEC 8-K summary
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Issuer:     ALICO, INC. (ALCO)
CIK:        0000003545
Form:       8-K
Filed at:   2022-12-13T23:59:59+00:00
Accession:  0000950170-22-026457
Event type: earnings
Sentiment:  negative
Materiality: 0.78
Item codes: 2.02, 4.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Alico restates deferred tax liabilities 2015-2019; FY2022 net income $12.5M, hit by $23M Hurricane Ian losses
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- Restatement of deferred tax liabilities for fiscal years 2015-2019, cumulative increase in retained earnings of ~$2.5M; no impact on operations or cash flows.
- FY2022 net income $12.5M ($1.65 diluted EPS) vs $34.9M ($4.64) in FY2021; EBITDA $32.1M vs $65.5M.
- Hurricane Ian caused ~$23M in inventory and casualty losses, leading to results below guidance; adjusted net loss per share $0.21.
- Sold ~9,400 acres of Alico Ranch for ~$41.9M; used proceeds to return ~$15M via dividends and prepay debt.
- No FY2023 guidance provided due to uncertainty from Hurricane Ian.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/3545/000095017022026457/0000950170-22-026457-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/3545/000095017022026457/alco-20221212.htm
  HTML page:      https://secwatch.observer/filing/0000950170-22-026457

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