Alico, Inc. (ALCO) Land Monetization and Corkscrew Approval Reinforce Post-Citrus Transformation; Valuation Remains Supported by Embedded Land Optionality – Key Takeaways: – 2Q FY26 marked another strong execution quarter, with adjusted EBITDA of $16.9 million and net income of…
1.4 million. – Land monetization accelerated, with a $26.9 million sale of non-core citrus acreage bringing YTD land sales to $34.6 million. – Collier County approval for Corkscrew Grove East Village materially advances ALCO’s long-term development strategy in Southwest Florida. – Liquidity strengthened despite $10.0 million of share repurchases, with $52.9 million of cash extending runway through FY28. – Valuation remains supported by conservative land assumptions, with upside tied to monetization, entitlement progress, and long-term development optionality. – – Land monetization and lower citrus drag drove another quarter of positive adjusted EBITDA. 2Q FY26 (quarter ending March 2026) reflects continued progress in ALCO’s transition from a weather and disease-exposed citrus operator into a land-management and development platform with recurring agricultural utilization, episodic land sales, and long-duration real estate optionality. ALCO reported net income attributable to common stockholders of $11.4 million, or $1.49 per diluted share, compared with a net loss of $111.4 million, or $14.58 per diluted share, in 2Q FY25
Adjusted EBITDA increased 32.6% y/y to $16.9 million from $12.7 million, while EBITDA improved to $16.7 million from a loss of $14.7 million, reflecting the January land sale, lower citrus drag, and continued execution of the company’s land-centric operating strategy. – Land sale proceeds funded both liquidity and shareholder returns. ALCO closed the previously announced sale of approximately 2,950 acres of citrus grove for $26.9 million during the quarter, bringing year-to-date land sales to $34.6 million. Importantly, management paired this monetization with $10.0…