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Alico, Inc. Announces Financial Results for the First Quarter Ended December 31, 2023 [Yahoo! Finance]

Alico, Inc. (ALCO) 
US:NASDAQ Investor Relations: ir.stockpr.com/alicoinc/investor-home
Company Research Source: Yahoo! Finance
first fiscal quarter ended December 31, 2023, the highlights of which are as follows: The Company reports net income attributable to Alico, Inc. common stockholders of $42.9 million and EBITDA of $63.8 million for the fiscal quarter. After adjusting for certain items, the Company reports Adjusted EBITDA of $(2.3) million for the quarter ended December 31, 2023 On December 21, 2023 , the Company closed on the sale of acres of the Alico Ranch to the State of Florida for $77.6 million in gross proceeds. The Company repaid all outstanding borrowings on its working capital line of credit, as well as $19.1 million outstanding on its Met Life Variable-Rate Terms loans, both of which incurred interest in excess of 7.00% per annum. The Company had l ower than anticipated box production for the Early and Mid-Season Harvest, due to the impacts from Hurricane Ian, which resulted in an inventory write-down of $10.8 million The Company maintains a strong balance sheet with a working capit Show less Read more
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