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Stock impact report

Alico Conference: CEO Details Exit From Citrus, Land-Leasing Push and Corkscrew Entitlement Timeline [Yahoo! Finance]

Alico, Inc. (ALCO) 
US:NASDAQ Investor Relations: ir.stockpr.com/alicoinc/investor-home
Company Research Source: Yahoo! Finance
on leasing, selective land sales, and longer-term real estate development through entitlements, speaking during a company event focused on its transformation. Kiernan said the decision was driven by economics, pointing to the impact of citrus greening disease on production and costs. He said the disease reduced yields and fruit quality while increasing caretaking expenses, and that Alico had been losing money for the prior two years. ? Inside D-Wave's Major Acquisition—What Changes for Investors “It was a very, very difficult decision,” Kiernan said, noting Alico's long history as a major citrus grower, including supplying a substantial amount of fruit to Tropicana for more than a decade. However, he said the business was no longer economically viable for Alico to meet its own expectations or those of shareholders. Kiernan described Alico as a land company that owned more than 50,000 acres in Florida across 31 locations in seven or eight counties at the time the strategy was d Show less Read more
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