Alico (ALCO) investor relations material

Executive summary

• Net income attributable to common stockholders was $11.4 million for Q2 2026, a significant turnaround from a $111.4 million loss in Q2 2025, driven by land sales and strategic transformation.

• Adjusted EBITDA for Q2 2026 was $16.9 million, up 32.6% year-over-year, with $52.9 million in cash at quarter end, extending the financial runway through fiscal 2028.

• Closed a $26.9 million land sale in January, generating a $19.8 million gain and bringing year-to-date land sales to $34.6 million.

• Repurchased 245,399 shares for $10 million through April 2026, supporting shareholder returns.

• Secured unanimous local approval for Corkscrew Grove Villages, advancing a major development project in Southwest Florida.

Financial highlights

• Q2 2026 revenue was $5.3 million, down over 70% year-over-year due to the wind-down of citrus operations.

• Six-month revenue was $7.2 million, compared to $34.9 million in the prior year period.

• Net income per diluted share was $1.49, compared to a loss of $14.58 per share in Q2 2025.

• Adjusted EBITDA for the six months ended March 31, 2026, was $19.6 million, up 223.6% from the prior year period.

• Cash and equivalents at quarter end were $52.9 million, up from $38.1 million at fiscal year-end.

Outlook and guidance

• Fiscal 2026 Adjusted EBITDA is projected at approximately $14 million, with year-end cash of $40 million and net debt of $45 million.

• Guidance assumes no additional capital returns beyond the $10 million share repurchase; further returns could reduce cash and increase net debt.

• Timeline for Corkscrew Grove East Village: state approval by early 2027, federal approval by end of 2028, construction potentially starting in 2028 or 2029.

• The company is focused on transitioning to diversified land use and real estate development, with diminishing seasonality as citrus operations wind down.

• Management expects continued asset sales and land development to drive future results.