Alico, Inc. announced financial results for the second quarter ended March 31, 2025, reporting a net loss attributable to common stockholders of $(111.4) million, compared to a net loss of $(15.8) million in the prior year period. The diluted loss per share was $(14.58), compared to $(2.07) in the same period last year.
The increased net loss was primarily due to approximately $119.3 million of non-cash accelerated depreciation on citrus trees and a $24.966 million impairment charge on young trees and assets, reflecting the decision to wind down citrus operations. Despite this, Adjusted EBITDA for the quarter was $12.7 million, a significant improvement from $(16.5) million in the prior year.
Alico completed its last major citrus harvest in April 2025 and raised its fiscal year 2025 land sales outlook to potentially exceed $50 million, up from an initial expectation of $20 million. The company projects ending fiscal year 2025 with approximately $25 million in cash and $60 million in net debt, with an anticipated Adjusted EBITDA of approximately $20 million.
The Land Management and Other Operations segment saw revenue increase by 107.1% for the quarter, driven by higher rock and sand royalty income and sod sales. Alico also provided an update on its Corkscrew Grove Villages project, a 4,660-acre development in Collier County, for which a local approval application was submitted in March 2025, envisioning up to 9,000 homes and 560,000 square feet of commercial space.
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