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GlobeNewswire·

Alico, Inc. Announces Financial Results for the Third Quarter Ended June 30, 2026

ALCO
  • Alico entered an agricultural lease agreement for approximately 3,280 acres including a purchase option for $29.5 million to extend its land monetization strategy beyond outright sales.
  • Corkscrew Grove East Village advanced to state and federal permitting processes following local entitlement approval received in April 2026.
  • The company completed $10.0 million of its share repurchase program by buying approximately 245,000 shares while strengthening its cash position.
  • A newly strengthened liquidity position extends the operating runway through 2029 without requiring additional asset sales.
  • Fiscal Year 2026 guidance was raised to project Adjusted EBITDA of approximately $15 million, ending cash of approximately $48 million, and net debt of approximately $37 million.
  • For the third quarter ended June 30, 2026, the company reported revenue of $9.04 million, net income of $2.125 million, and earnings of $0.29 per diluted share.
  • Total debt stood at $85.4 million with net debt at $29.8 million as of June 30, 2026, compared to $85.5 million and $47.4 million respectively at September 30, 2025.
  • Alico acquired the remaining 49% interest in Citree for $2.0 million plus assumed debt to achieve 100% ownership of 1,200 acres in DeSoto County.
  • General and administrative expenses decreased by 21.2% in the third quarter 2026 compared to the same period in 2025 due to lower employee expenses and insurance premiums.
  • The company paid a third-quarter cash dividend of $0.05 per share on July 16, 2026.
  • Corkscrew Grove Villages plans include approximately 9,000 homes, 750 affordable housing units, and 480,000 square feet of commercial space across 4,660 acres in Collier County.
  • Construction on the first village is expected to begin in 2028 or 2029 if all necessary federal, state, and local permits are granted.
  • The company completed its last significant citrus harvest in April 2025 as it transitions to a focus on land sales, leasing, and development.
  • Available borrowings under the company's line of credit were approximately $92.5 million as of June 30, 2026.