Alico Inc

Alico, Inc. is exiting citrus production after disease and hurricane damage made its groves uneconomical, shifting toward leasing farmland and managing land for future development. The company is pursuing entitlements across its 47,300-acre portfolio, including a proposed 4,660-acre Collier County community that could eventually include about 9,000 homes, though state and federal approvals remain pending. Alico has generated more than $90 million from agricultural land sales over the past 18 months and is using its liquidity to avoid distressed sales, fund operations and return capital through dividends and share repurchases.

Alico reported third-quarter fiscal 2026 revenue rose 7.7% year-over-year to $9.0 million as land-management activities became the primary revenue source following the wind-down of its citrus operations. Land Management and Other Operations revenue surged to $7.9 million from $0.6 million a year earlier, while Alico Citrus revenue fell 85.6% to $1.1 million. The company also announced a new agricultural lease covering approximately 3,280 acres in Hendry County that includes a lessee-held purchase option initially valued at $29.5 million, or $9,000 per acre. Net income improved to $2.1 million from a loss of $18.3 million, and adjusted EBITDA was $4.6 million, with full-year guidance raised to approximately $15 million. Cash stood at $55.6 million and net debt at $29.8 million, extending the company's operating runway through fiscal 2029.