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Jun 30, 2021
Alico Q3 2021 Earnings Report
Reported increased net income attributable to Alico common stockholders primarily due to higher gain on sales and increased market price per pound solids for citrus fruit.
Key Takeaways
Alico, Inc. announced financial results for the third quarter of fiscal year 2021. The company closed Alico Ranch sales for approximately 18,500 acres during the third quarter and the Board of Directors approved a substantial increase in the quarterly dividend. The company reiterates updated guidance for net income, EBITDA, adjusted net income and adjusted EBITDA for fiscal year 2021.
Final market prices per pound solids significantly increase in fiscal year 2021, with the Company’s overall average realized/blended price up 31.7% to $2.45 per pound solid.
Company closed Alico Ranch sales for approximately 18,500 acres during the third quarter ended June 30, 2021.
Alico Board of Directors approved a substantial increase in the quarterly dividend from $0.18 per common share to $0.50 per common share, effective the third quarter of fiscal year 2021.
Company reiterates updated guidance for net income, EBITDA, adjusted net income and adjusted EBITDA for fiscal year 2021.
Alico
Alico
Alico Revenue by Segment
Revenue by Segment
Alico Citrus Revenue
CapyFin.comLand Mgmt & Other Ops Revenue
CapyFin.com Forward Guidance
The Company is reiterating its previously updated guidance for the fiscal year ended September 30, 2021 as follows:
Positive Outlook
- The Company is projecting fiscal year 2021 net income to be between $33 million and $38.5 million.
- Fiscal year 2021 adjusted net income (after adjusting out for certain of the expected non-recurring items, such as the real estate sales) is expected to be between $1.3 million and $3.8 million.
- The Company is projecting fiscal year 2021 EBITDA to be between $64 million and $72 million.
- Fiscal year 2021 adjusted EBITDA (after adjusting out for certain of the expected non-recurring items, such as the real estate sales) is expected to be between $21.7 million and $25.7 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income