Alico, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended March 31, 2024
May 07, 2024 at 02:05 am IST
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Alico, Inc. reported earnings results for the second quarter and six months ended March 31, 2024. For the second quarter, the company reported sales was USD 18.11 million compared to USD 21.29 million a year ago. Revenue was USD 18.11 million compared to USD 21.29 million a year ago. Net loss was USD 15.8 million compared to USD 7.79 million a year ago. Basic loss per share from continuing operations was USD 2.07 compared to USD 1.02 a year ago. Diluted loss per share from continuing operations was USD 2.07 compared to USD 1.02 a year ago.
For the six months, sales was USD 32.1 million compared to USD 31.88 million a year ago. Revenue was USD 32.1 million compared to USD 31.88 million a year ago. Net income was USD 27.14 million compared to net loss of USD 10.94 million a year ago. Basic earnings per share from continuing operations was USD 3.56 compared to basic loss per share from continuing operations of USD 1.44 a year ago. Diluted earnings per share from continuing operations was USD 3.56 compared to diluted loss per share from continuing operations of USD 1.44 a year ago.
Alico, Inc. is an agribusiness and land management company. The Company is engaged in the sale of its citrus products, providing services to citrus groves owned by third parties, and grazing and hunting leasing. Its segments include Alico Citrus and Land Management and Other Operations. Alico Citrus segment is engaged in planting, owning, cultivating and/or managing citrus groves to produce fruit for sale to fresh and processed citrus markets, including activities related to the purchase and resale of fruit and value-added services, which include contracting for the harvesting, marketing and hauling of citrus. Its Land Management and Other Operations segment includes activities related to native plant sales, grazing and hunting leasing, management and/or conservation of unimproved native pastureland and activities related to rock mining royalties and other insignificant lines of business. It owns over 73,000 acres of land and 90,000 acres of mineral rights throughout Florida.
ALICO, INC. 
