$ALCO

ALICO, INC.

CIK:0000003545|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Operating revenues:
Total operating revenues	$ 9,040	$ 8,390	$ 16,267	$ 43,264
Operating expenses	4,994	36,446	22,363	229,255
Gross profit (loss)	4,046	(28,056)	(6,096)	(185,991)
General and administrative expenses	2,258	2,867	8,492	8,841
Gain on sale of property and equipment	98	5,553	24,767	21,400
Income (loss) from operations	1,886	(25,370)	10,179	(173,432)
Other expense, net:
Interest income	515	153	1,454	259
Interest expense	(951)	(907)	(2,875)	(2,964)
Other income, net	24	0	20	255
Total other expense, net	(412)	(754)	(1,401)	(2,450)
Income (loss) before income taxes	1,474	(26,124)	8,778	(175,882)
Income tax (benefit)	(93)	(7,800)	(476)	(36,874)
Net income (loss)	1,567	(18,324)	9,254	(139,008)
Net loss attributable to noncontrolling interests	558	35	771	167
Net income (loss) attributable to Alico, Inc. common stockholders	$ 2,125	$ (18,289)	$ 10,025	$ (138,841)
Income (loss) per common share:
Basic (in dollars per share)	$ 0.29	$ (2.39)	$ 1.33	$ (18.18)
Diluted (in dollars per share)	$ 0.29	$ (2.39)	$ 1.32	$ (18.18)
Weighted-average number of common shares outstanding:
Basic (in shares)	7,419	7,641	7,566	7,637
Diluted (in shares)	7,437	7,641	7,577	7,637
Cash dividends declared per common share (in dollars per share)	$ 0.05	$ 0.05	$ 0.15	$ 0.15
Alico Citrus
Operating revenues:
Total operating revenues	$ 1,123	$ 7,805	$ 5,797	$ 41,384
Land Management and Other Operations
Operating revenues:
Total operating revenues	$ 7,917	$ 585	$ 10,470	$ 1,880

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)	9 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Net cash provided by operating activities
Net income (loss)	$ 9,254,000	$ (139,008,000)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation, depletion and amortization	12,761,000	170,800,000
Amortization of debt issue costs	130,000	127,000
Gain on sale of property and equipment	(24,767,000)	(21,400,000)
Impairment of long-lived assets	0	24,966,000
Loss on disposal of long-lived assets	0	780,000
Inventory net realizable value adjustment	0	9,895,000
Deferred income tax benefit	(1,060,000)	(36,869,000)
Stock-based compensation expense	456,000	559,000
Other	154,000	(390,000)
Changes in operating assets and liabilities:
Accounts receivable	(192,000)	(839,000)
Inventories	4,034,000	17,194,000
Prepaid expenses	541,000	0
Income tax receivable	338,000	896,000
Other assets	(164,000)	10,000
Accounts payable and accrued liabilities	665,000	(4,048,000)
Income taxes payable	584,000	0
Other liabilities	(402,000)	168,000
Net cash provided by operating activities	2,332,000	22,841,000
Cash flows from investing activities:
Purchases of property and equipment	(1,713,000)	(4,049,000)
Net proceeds from sale of property and equipment	34,971,000	28,172,000
Notes receivable	0	570,000
Advance to Corkscrew Grove Stewardship District	(5,071,000)	0
Net cash provided by investing activities	28,187,000	24,693,000
Cash flows from financing activities:
Repayments on revolving lines of credit	0	(25,194,000)
Borrowings on revolving lines of credit	0	19,300,000
Principal payments on term loans	(188,000)	(1,057,000)
Purchases of common stock	(10,003,000)	0
Payments to Noncontrolling Interests	(2,007,000)	0
Exercise of stock options	272,000	0
Dividends paid	(1,137,000)	(1,146,000)
Net cash used in financing activities	(13,063,000)	(8,097,000)
Net increase in cash and cash equivalents and restricted cash	17,456,000	39,437,000
Cash and cash equivalents and restricted cash at beginning of the period	56,346,000	42,835,000
Cash and cash equivalents and restricted cash at end of the period	56,346,000	42,835,000
Supplemental disclosure of cash flow information
Cash paid for interest, net of amounts capitalized	2,474,000	2,844,000
Cash (received) paid for income taxes, net of refunds	(349,000)	(900,000)
Non-cash investing and financing activities:
Assets received in exchange for services	1,207,000	0
Dividends declared but unpaid	$ 371,000	$ 382,000

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Sep. 30, 2025
Current assets:
Cash and cash equivalents	$ 55,584	$ 38,128
Accounts receivable, net	591	1,014
Inventories	186	4,220
Income tax receivable	0	338
Assets held for sale	0	9,176
Prepaid expenses and other current assets	1,502	2,043
Total current assets	57,863	54,919
Restricted cash	762	762
Property and equipment, net	131,238	142,065
Goodwill	2,246	2,246
Other non-current assets	6,554	1,535
Total assets	198,663	201,527
Current liabilities:
Accounts payable	984	403
Accrued liabilities	5,214	4,563
Current portion of long-term debt	250	250
Income tax payable	584	0
Other current liabilities	239	527
Total current liabilities	7,271	5,743
Long-term debt, net	82,668	82,797
Lines of credit	2,500	2,500
Deferred income tax liabilities, net	1,395	2,455
Other liabilities	0	38
Total liabilities	93,834	93,533
Commitments and Contingencies - Note 13.
Stockholders’ equity:
Preferred stock, no par value, 1,000,000 shares authorized; none issued	0	0
Common stock, $1.00 par value, 15,000,000 shares authorized; 8,416,145 shares issued and 7,416,327 and 7,645,360 shares outstanding at June 30, 2026 and September 30, 2025, respectively	8,416	8,416
Additional paid in capital	22,787	20,410
Treasury stock, at cost, 999,818 and 770,785 shares held at June 30, 2026 and September 30, 2025, respectively	(35,653)	(26,185)
Retained earnings	109,279	100,391
Total Alico stockholders’ equity	104,829	103,032
Noncontrolling interest	0	4,962
Total stockholders’ equity	104,829	107,994
Total liabilities and stockholders’ equity	$ 198,663	$ 201,527