MLP reports Q2 2025 net loss of $9.6M on pension annuitization; revenue up 103% to $10.4M

MAUI LAND & PINEAPPLE CO INC

Net GAAP loss of ($9.64M) ($0.49/share) for six months ended June 30, 2025, vs ($3.25M) loss prior year.
Total operating revenues $10.41M, up 103% YoY; leasing revenue up 46% to $6.42M; land development $3.44M from Honokeana Homes.
Non-cash pension expense of $7.50M from plan annuitization; expected offset by comprehensive gain in Q3 2025.
Adjusted EBITDA (non-GAAP) of ($192K) vs ($247K) prior year; cash & investments $7.03M vs $9.52M at year-end.
CEO highlights agave venture planting and strong leasing performance; 17 new leases commenced since July 2024.

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