Alico, Inc. reported its first‑quarter 2026 results for the period ended December 31, 2025, showing a net loss of $3.5 million, a dramatic improvement from the $42.9 million loss recorded in the same quarter a year earlier. The company’s shift away from citrus production toward land monetization and leasing is reflected in the sharp decline in top‑line revenue, which fell to $1.9 million from $5.6 million in the prior year’s quarter.
EBITDA turned positive, rising to $2.4 million from a $6.7 million loss in Q1 2025. The turnaround is largely attributable to the elimination of citrus‑related operating expenses and the infusion of cash from land sales, which generated $7.7 million in the quarter and brought year‑to‑date proceeds to $34.5 million.
Cash and cash equivalents stood at $34.8 million as of December 31, 2025, up from $4.4 million at the end of fiscal 2024. The liquidity boost underscores the company’s ability to fund its transition and pursue development projects such as the Corkscrew Grove Villages master‑planned community.
Revenue for the quarter was $1.9 million, a 66% decline from $5.6 million in Q1 2025, driven by the wind‑down of citrus operations. Management noted that the revenue drop is a planned consequence of exiting the legacy citrus business, which has been eroded by disease and weather losses.
The company reported a diluted loss of $0.45 per share, beating the consensus estimate of a $0.38 loss. The EPS beat was driven by disciplined cost management and the positive EBITDA, offsetting the revenue decline. Management emphasized that the company’s cash position and land portfolio provide a strong foundation for future growth.
John Kiernan, President and CEO, said, “We believe Alico has a business model that unlocks substantial value from our approximately 46,000‑acre Florida portfolio.” He added that the company’s strengthened balance sheet and $34.8 million in cash position position it well to advance its high‑value development roadmap.
After the release, Alico’s shares fell 2.4% in after‑hours trading, reflecting investor concern over the sharp revenue miss despite the EPS improvement. The market reaction highlights the tension between the company’s strategic pivot and the short‑term revenue impact of exiting citrus operations.
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