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Alico Inc (ALCO)
NASDAQ:ALCO
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Earnings Data
Report Date
Feb 05, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
―Last Year’s EPS
―Same Quarter Last Year
Based on 0 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Dec 02, 2024
|% Change Since: -2.35%
|Next Earnings Date:Feb 05, 2025
Earnings Call Sentiment|Neutral
The earnings call highlighted Alico's strategic achievements, including improved financial performance, significant land sales, and a favorable citrus pricing agreement. However, the company continues to face challenges from recent hurricanes and ongoing difficulties in citrus production. The sentiment is cautiously optimistic as Alico has strengthened its balance sheet and remains committed to strategic real estate development.Company Guidance
During Alico's fourth quarter earnings call for fiscal year 2024, CEO John Kiernan outlined the company's strategies amidst ongoing challenges, notably the aftermath of Hurricane Ian and Hurricane Milton, which affected citrus production. Alico reported a net income of $7 million, up from $1.8 million the previous year, largely due to an $81.4 million gain from land sales. However, they faced $28.5 million and $19.5 million inventory write-downs for the 2023-2024 and 2024-2025 harvests, respectively. Despite these setbacks, Alico secured a lucrative orange purchase agreement with Tropicana, projecting 33% to 50% higher prices, and treated citrus trees with oxytetracycline to combat greening. The company emphasized its strong financial position, facilitated by strategic land sales and credit agreements, and its commitment to maximizing real estate asset value, while acknowledging the inability to forecast 2025 crop sizes accurately at this time.Increased Net Income and Earnings Per Share
Net income attributable to Alico common stockholders increased to $7 million for fiscal year 2024 from $1.8 million in fiscal year 2023, with earnings of $0.91 per diluted common share compared to $0.24 in the previous year.
Significant Land Sale and Debt Reduction
Alico completed the sale of 17,229 acres of Alico Ranch to the State of Florida for $77.6 million, which was used to repay outstanding borrowings, thereby reducing required principal payments to less than $1.5 million per year through fiscal year 2029.
Improved Citrus Pricing Agreement
Alico entered into a new 3-year orange purchase agreement with Tropicana at prices approximately 33% to 50% higher over the life of the contract compared to the previous season.
Strategic Real Estate Development
Progress in the multiyear entitlement process for 4,500-acre Grove in Collier County and other potential real estate transactions in Polk, Highlands, and Hendry Counties.
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ALCO Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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ALCO Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Dec 02, 2024 | $26.80 | $26.44 | -1.34% |
| Aug 05, 2024 | $27.38 | $28.61 | +4.49% |
| May 06, 2024 | $28.62 | $25.92 | -9.43% |
| Feb 07, 2024 | $28.03 | $28.75 | +2.57% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Alico Inc (ALCO) report earnings?
Alico Inc (ALCO) is schdueled to report earning on Feb 05, 2025, TBA Not Confirmed.
What is Alico Inc (ALCO) earnings time?
Alico Inc (ALCO) earnings time is at Feb 05, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is ALCO EPS forecast?
Currently, no data Available
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