Maui Land & Pineapple posts H1 net loss of $2.48M; leadership changes amid wildfire response

MAUI LAND & PINEAPPLE CO INC

2024-Q2 EPS reported -$0.13 revenue$4,770,000

H1 2023 net loss $2,481,000 ($0.13/sh) vs net income $9,907,000 ($0.51/sh) in H1 2022; no land sales vs $11.6M prior year.
Operating revenues excluding land sales up $117,000 to $4,770,000; costs up $1,389,000 including $1,321,000 one-time leadership transition costs.
Adjusted EBITDA $28,000; cash & liquid investments $10,305,000, down $1,187,000 YoY.
Appointed Ashley Takitani Leahey VP Community Development (Aug 1) and Dean Frampton VP Land & Natural Resources (Aug 7); selected Colliers as property manager.
Company focuses on wildfire relief; all team members and assets safe; strategic pause on land sales to optimize portfolio.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

MAUI LAND & PINEAPPLE CO INC reported six months ended June 30, 2023 results: revenue $4,770,000, net income Net loss was $2,481,000, EPS $0.13 per common share (loss).

Period: six months ended June 30, 2023
Revenue: $4,770,000
Net income: Net loss was $2,481,000
EPS: $0.13 per common share (loss)
Result: reported results

Exact text from the filing

30, 2023, compared to the six months ended June 30, 2022. Including land sales, for the six months ended June 30, 2023, the total operating revenues decreased by $11,464,000 to $4,770,000 compared to the same period last year as a direct result of two land sales closed in the prior year in the amount of $11,600,000. ● Costs and expenses – Operating costs and

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Source: SEC EDGAR

accession 0001437749-23-024162

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