Alico (ALCO) Q2 2026 earnings summary

Executive summary

• Net income attributable to common stockholders was $11.4M for Q2 2026, a turnaround from a $111.4M loss in Q2 2025, driven by land sales and reduced operating expenses.

• Operating revenues for the quarter were $5.3M, down 70% year-over-year, reflecting the wind-down of the citrus division and a shift to diversified land use and real estate development.

• The company completed the sale of 2,950 acres for $26.9M in Q2, totaling $34.6M year-to-date, and repurchased 245,399 shares for $10M through April 2026.

• Adjusted EBITDA for Q2 2026 was $16.9M, up 32.6% year-over-year, reflecting improved operational performance and cost management.

• Collier County local entitlement approvals were secured for Corkscrew Grove Villages, advancing real estate development initiatives.

Financial highlights

• Q2 2026 revenue was $5.3M, down 70.3% year-over-year, reflecting the wind-down of citrus operations.

• 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 $19.6M, up 223.6% from the prior year period.

• Cash and cash equivalents increased to $52.9M from $38.1M at year-end, extending the cash runway through fiscal 2028.

• Working capital was $52.2M with a current ratio of 9.63 at March 31, 2026.

Outlook and guidance

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

• 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.

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