Alico Inc · Q1 2022 earnings

Briefing

Alico reported increased net income and earnings per share compared to the same quarter last year, driven by gains on real estate sales and a charitable deduction, but withdrew its fiscal year 2022 guidance due to uncertainties from a recent freeze.

Alico, Inc. announced its financial results for the fiscal quarter ended December 31, 2021, reporting a net income attributable to Alico common stockholders of $10.1 million, or $1.34 per diluted common share. The company experienced increased gains from real estate sales and a tax benefit from a charitable deduction. However, due to expected lower fruit yield and the impact of a recent freeze, Alico withdrew its prior guidance for net income, EBITDA, adjusted net income, and adjusted EBITDA for fiscal year 2022.

• Net income attributable to Alico common stockholders increased to $10.1 million, or $1.34 per diluted common share, compared to $3.8 million, or $0.51 per diluted common share, in the prior year's quarter.
• The increase in net income was primarily due to gains on the sale of real estate and a charitable deduction.
• EBITDA increased to $11.6 million, while adjusted EBITDA decreased to $2.4 million.
• Alico withdrew its fiscal year 2022 guidance for net income, EBITDA, adjusted net income, and adjusted EBITDA due to uncertainties related to a recent freeze and expected lower fruit yield.

Headline financials

Revenue & EPS history

Alico withdrew its previously issued guidance for net income, EBITDA, adjusted net income and adjusted EBITDA for fiscal year 2022, and expects to update that guidance once it can secure more complete information about the impact of the freeze.