Alico (ALCO) Q1 2026 earnings summary

Executive summary

• Achieved $7.7 million in Q1 land sales, with total land sales reaching $34.5 million year-to-date through January 2026, reflecting strong demand for Florida properties.

• Net loss improved to $3.5 million from $9.2 million year-over-year; positive EBITDA of $2.4 million versus negative $6.7 million prior year.

• Farmable land utilization reached 97% after new lease agreements, supporting stable revenue from diversified agricultural partnerships.

• Strategic transformation away from citrus operations led to reduced volatility and improved financial stability.

• Cash position strengthened to $34.8 million at quarter end, further boosted by a $26.8 million land sale in January 2026.

Financial highlights

• Q1 revenue was $1.9 million, down 88.8% year-over-year due to the wind-down of citrus operations.

• Land Management and Other Operations revenue rose 77% on higher royalties, lease income, and sod sales.

• Net loss improved to $3.5 million ($0.45/share) from $9.2 million ($1.20/share) prior year.

• Positive EBITDA of $2.4 million and adjusted EBITDA of $2.7 million, both up from negative $6.7 million.

• Net cash used in operating activities was $5.5 million, down from $7.6 million prior year.

Outlook and guidance

• FY2026 adjusted EBITDA expected at ~$14 million, a significant improvement over prior years.

• Anticipates ending FY2026 with ~$50 million in cash and net debt reduced to ~$35 million, assuming no additional capital returns.

• Corkscrew Grove Villages entitlement decision anticipated in 2026, with construction possible in 2028 or 2029 if approved.