Alico Enters New Supply Contract With Tropicana; Effective June 5, 2024 Through July 31, 2027; Subject To Terms And Conditions

6/10/24 8:05:36 AM ET

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This supply agreement succeeds existing agreements that are set to expire at the end of July 2024. This agreement effectively sells the citrus fruit grown on approximately 65% of Alico's currently planted acres to Tropicana Brands Group ("Tropicana") at prices per pound solids that are approximately 33% to 50% higher over the term of the contract than the average price for all the citrus fruit sold to Tropicana last season. Alico has another supply contract with Tropicana that remains in effect through the 2024-25 harvest season.

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Date	Price Target	Rating	Analyst
8/6/2021	$40.00 → $44.00	Buy	Roth Capital

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Alico Enters New Supply Contract With Tropicana; Effective June 5, 2024 Through July 31, 2027; Subject To Terms And Conditions
This supply agreement succeeds existing agreements that are set to expire at the end of July 2024. This agreement effectively sells the citrus fruit grown on approximately 65% of Alico's currently planted acres to Tropicana Brands Group ("Tropicana") at prices per pound solids that are approximately 33% to 50% higher over the term of the contract than the average price for all the citrus fruit sold to Tropicana last season. Alico has another supply contract with Tropicana that remains in effect through the 2024-25 harvest season.
6/10/24 8:05:36 AM ET
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Alico Q2 2024 Adj EPS $0.26 Beats $(0.14) Estimate, Sales $18.113M Miss $40.600M Estimate
Alico (NASDAQ:ALCO) reported quarterly earnings of $0.26 per share which beat the analyst consensus estimate of $(0.14) by 285.71 percent. This is a 116.05 percent increase over losses of $(1.62) per share from the same period last year. The company reported quarterly sales of $18.113 million which missed the analyst consensus estimate of $40.600 million by 55.39 percent. This is a 14.94 percent decrease over sales of $21.294 million the same period last year.
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Initial Assessments Indicate that Alico, Inc. Sustained Minimal Tree Damage from Hurricane Milton Last Week
FORT MYERS, Fla., Oct. 17, 2024 (GLOBE NEWSWIRE) -- Initial assessments indicate that Alico, Inc. sustained minimal tree damage from Hurricane Milton last week. Most importantly, we are grateful that none of our approximately 197 employees were casualties from this devastating storm in Florida last week. The full impact of Hurricane Milton on Alico's assets and operations is still being assessed at this time, but we believe the lessons learned over the past century, especially since Hurricane Irma in 2017 and Ian in 2022, allowed us to be better prepared prior to landfall and to more rapidly begin recovery after impact. Our disaster programs and protocols, our dedicated workforce, and exp
10/17/24 8:00:32 AM ET
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Alico, Inc. Announces Amendment to its Revolving Line of Credit with MetLife
FORT MYERS, Fla., Sept. 17, 2024 (GLOBE NEWSWIRE) -- Alico, Inc. ("Alico") (NASDAQ:ALCO) announced that, effective September 17 2024, it has amended its Credit Agreement (the "Amendment") with Metropolitan Life Insurance Company, and New England Life Insurance Company (collectively "MetLife"), which, among other things (i) increases the borrowing capacity under the revolving line of credit (the "RLOC") from $25 million to $95 million and (ii) now extends the maturity date of the RLOC to May 1, 2034. The RLOC is secured by real property, consisting of approximately 36,800 gross acres of citrus land. In addition, in connection with the Amendment, the Company paid off its current borrowings u
9/17/24 5:00:03 PM ET
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Alico, Inc. Announces Financial Results for the Third Quarter and Nine Months Ended June 30, 2024
FORT MYERS, Fla. , Aug. 05, 2024 (GLOBE NEWSWIRE) -- Alico, Inc. ("Alico", the "Company", "we", "us" or "our") (NASDAQ:ALCO) today announced financial results for the third quarter of fiscal year 2024 and the nine months ended June 30, 2024, the highlights of which are as follows: The Company previously announced that it entered a new three-year agreement to sell oranges to Tropicana at prices that are approximately 33% to 50% higher, over the life of the contract, than the average price for all the citrus fruit sold to Tropicana last season.The Company has now treated substantially all of its producing trees with Oxytetracycline ("OTC") and anticipates that these 4.5 million trees will s
8/5/24 4:10:00 PM ET
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Initial Assessments Indicate that Alico, Inc. Sustained Minimal Tree Damage from Hurricane Milton Last Week
FORT MYERS, Fla., Oct. 17, 2024 (GLOBE NEWSWIRE) -- Initial assessments indicate that Alico, Inc. sustained minimal tree damage from Hurricane Milton last week. Most importantly, we are grateful that none of our approximately 197 employees were casualties from this devastating storm in Florida last week. The full impact of Hurricane Milton on Alico's assets and operations is still being assessed at this time, but we believe the lessons learned over the past century, especially since Hurricane Irma in 2017 and Ian in 2022, allowed us to be better prepared prior to landfall and to more rapidly begin recovery after impact. Our disaster programs and protocols, our dedicated workforce, and exp
10/17/24 8:00:32 AM ET
$ALCO
Alico, Inc. Announces Amendment to its Revolving Line of Credit with MetLife
FORT MYERS, Fla., Sept. 17, 2024 (GLOBE NEWSWIRE) -- Alico, Inc. ("Alico") (NASDAQ:ALCO) announced that, effective September 17 2024, it has amended its Credit Agreement (the "Amendment") with Metropolitan Life Insurance Company, and New England Life Insurance Company (collectively "MetLife"), which, among other things (i) increases the borrowing capacity under the revolving line of credit (the "RLOC") from $25 million to $95 million and (ii) now extends the maturity date of the RLOC to May 1, 2034. The RLOC is secured by real property, consisting of approximately 36,800 gross acres of citrus land. In addition, in connection with the Amendment, the Company paid off its current borrowings u
9/17/24 5:00:03 PM ET
$ALCO
Alico, Inc. Announces Financial Results for the Third Quarter and Nine Months Ended June 30, 2024
FORT MYERS, Fla. , Aug. 05, 2024 (GLOBE NEWSWIRE) -- Alico, Inc. ("Alico", the "Company", "we", "us" or "our") (NASDAQ:ALCO) today announced financial results for the third quarter of fiscal year 2024 and the nine months ended June 30, 2024, the highlights of which are as follows: The Company previously announced that it entered a new three-year agreement to sell oranges to Tropicana at prices that are approximately 33% to 50% higher, over the life of the contract, than the average price for all the citrus fruit sold to Tropicana last season.The Company has now treated substantially all of its producing trees with Oxytetracycline ("OTC") and anticipates that these 4.5 million trees will s
8/5/24 4:10:00 PM ET
$ALCO

Alico Enters New Supply Contract With Tropicana; Effective June 5, 2024 Through July 31, 2027; Subject To Terms And Conditions

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Director Fishman Benjamin D was granted 684 units of Alico, increasing direct ownership by 7% to 10,670 units (SEC Form 4)

Director Putnam Adam was granted 729 units of Alico, increasing direct ownership by 6% to 12,351 units (SEC Form 4)

Director Purse Toby K was granted 729 units of Alico, increasing direct ownership by 4% to 16,962 units (SEC Form 4)

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SEC Filings

Alico Inc. filed SEC Form 8-K: Regulation FD Disclosure

Alico Inc. filed SEC Form 8-K: Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation

Alico Inc. filed SEC Form 8-K: Regulation FD Disclosure

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Roth Capital reiterated coverage on Alico with a new price target

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