Maui Land & Pineapple H1 net loss widens to $3.2M; revenue up 7.5% on higher occupancy

MAUI LAND & PINEAPPLE CO INC

2024-Q2 EPS reported -$0.16 revenue$5,128,000

H1 2024 net loss $3.247M ($0.16/diluted share) vs $2.481M loss YoY; loss widened due to $2.582M non-cash share-based comp.
Operating revenue $5.128M, up 7.5% YoY driven by leasing, land sales, and resort amenities.
Commercial occupancy up 24% over past year; leasing revenue $4.388M vs $4.318M.
Adjusted EBITDA negative ($251K); cash and investments $6.960M, down $1.875M from Dec 2023.
Hired two senior leaders for land improvements and asset management; contracted to sell a non-strategic parcel in August 2024.

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