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FORT MYERS, Fla., Oct. 17, 2024 (GLOBE NEWSWIRE) -- Initial assessments indicate that Alico, Inc. sustained minimal tree damage from Hurricane Milton last week.

globenewswire.com 2024 Oct 17
ALCO Stock News Image - seekingalpha.com

Alico has an abundance of asset value hidden away in the land that it owns. If Alico completes an entitlement of its 4,500 acres at its Corkscrew grove site then the company could see its net asset value increase from $32.01 to $51.13 per share. The upcoming uncertainty surrounding the impacts of Hurricane Milton on Florida may present investors with buying opportunities in the days and weeks ahead.

seekingalpha.com 2024 Oct 09
ALCO Stock News Image - globenewswire.com

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 under the $70 million working capital line of credit, subject to cancellation of its outstanding letters of credit, with Rabo Agrifinance, Inc. and replaced the Rabo Agrifinance working capital line of credit, which was due to mature on November 1, 2025.

globenewswire.com 2024 Sep 17
ALCO Stock News Image - seekingalpha.com

Florida land is becoming increasingly scarce and valuable, with Alico offering a cheap entry at $5,500 per acre. Alico's land value is estimated at $9,000 per acre, suggesting a 60% upside, but realizing this value could take years and face operational costs. Alico's citrus operations face challenges like Hurricane Ian damage and Citrus Greening, but improvements are expected with new deals, grants, and better treatments.

seekingalpha.com 2024 Aug 28
ALCO Stock News Image - seekingalpha.com

Alico, Inc. (NASDAQ:ALCO ) Q3 2024 Results Conference Call August 6, 2024 8:30 AM ET Company Participants John Kiernan - President & Chief Executive Officer Brad Heine - Chief Financial Officer Operator Welcome to Alico's Third Quarter 2024 Conference Call. [Operator Instructions] As a reminder today's conference is being recorded.

seekingalpha.com 2024 Aug 06
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Alico (ALCO) came out with a quarterly loss of $0.27 per share versus the Zacks Consensus Estimate of a loss of $0.25. This compares to loss of $0.73 per share a year ago.

zacks.com 2024 Aug 05
ALCO Stock News Image - globenewswire.com

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:

globenewswire.com 2024 Aug 05
ALCO Stock News Image - seekingalpha.com

Alico, Inc is a citrus grower and land management company in Florida, trading near 52-week highs. Alico has strong balance sheets, with high shareholder equity and a price/book value of 0.81, making it a potential value play. Despite risks such as hurricanes and citrus diseases, Alico's recent deal with Tropicana and discount to book value make it a buy for value investors.

seekingalpha.com 2024 Jul 31
ALCO Stock News Image - globenewswire.com

Company to Host Conference Call on Tuesday, August 6, 2024, at 8:30 AM Eastern Time Company to Host Conference Call on Tuesday, August 6, 2024, at 8:30 AM Eastern Time

globenewswire.com 2024 Jul 22
ALCO Stock News Image - globenewswire.com

FORT MYERS, Fla., June 10, 2024 (GLOBE NEWSWIRE) -- Alico, Inc. (“Alico” or the “Company”) (Nasdaq: ALCO) today announced that it entered into a new agreement with its largest customer to supply citrus fruit. This agreement is effective June 5, 2024 through July 31, 2027, subject to its terms and conditions.

globenewswire.com 2024 Jun 10
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