Alico reports Q3 net income $11.8M but adjusted loss of $5.6M; crop down from Hurricane Ian

ALICO, INC.

2023-Q3 EPS reported $0.12 revenue$39,166,000

Q3 net income attributable to common stockholders $11.8M ($1.56 diluted EPS); adjusted net loss ($5.6M) per release.
EBITDA $18.8M; Adjusted EBITDA ($1.3M) for Q3; nine-month adjusted EBITDA ($12.5M).
Box production declined due to accelerated fruit drop from Hurricane Ian; $21.4M in crop insurance proceeds through June 30.
Sold 548 ranch acres for ~$2.7M in Q3; undrawn credit $76.8M; working capital ratio 3.10.
Cost increases in fertilizer, labor, fuel; nine-month net income $0.9M vs $33.5M prior year.

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 the three and nine months ended June 30, 2023 results: net income net income attributable to Alico, Inc. common stockholders of $11.8 million.

Period: the three and nine months ended June 30, 2023
Net income: net income attributable to Alico, Inc. common stockholders of $11.8 million
Result: reported results

Exact text from the filing

Alico, Inc. (“Alico” or the “Company”) (Nasdaq: ALCO) today announces financial results for the third quarter of fiscal year 2023 and the nine months ended June 30, 2023

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Source: SEC EDGAR

accession 0000950170-23-037560

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