ALICO INC
For the period ended Feb 7, 2024. Filed Feb 7, 2024.
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A notice of a major event between regular reports, such as results, a deal or a change of executives. It is often the first formal record of the news.
Feb 7, 2024 · Filed Feb 7, 2024
ALCO$37.09-0.3%Stored close · as of Nov 6, 2026
Contents
EX-99.1 · (in thousands)
(in thousands)
| Three Months EndedDecember 31, | ||
|---|---|---|
| 2023 | 2022 | |
| Net cash used in operating activities: | ||
| Net income (loss) | $42,436 | $(3,186) |
| Adjustments to reconcile net income to net cash used in operating activities: | ||
| Depreciation, depletion and amortization | 3,804 | 3,950 |
| Amortization of debt issue costs | 120 | 36 |
| Gain on sale of real estate, property and equipment and assets held for sale | (77,025) | (3,189) |
| Loss on disposal of long-lived assets | 225 | 1,915 |
| Inventory net realizable value adjustment | 10,846 | — |
| Stock-based compensation expense | 194 | 305 |
| Other | 36 | 8 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | (7,174) | (4,045) |
| Inventories | (169) | (1,316) |
| Prepaid expenses | (1,708) | (122) |
| Income tax receivable | 1,200 | (1,083) |
| Other assets | 2 | 108 |
| Accounts payable and accrued liabilities | (1,320) | (2,822) |
| Income taxes payable | 15,552 | — |
| Other liabilities | (188) | (224) |
| Net cash used in operating activities | (13,169) | (9,665) |
| Cash flows from investing activities: | ||
| Purchases of property and equipment | (3,490) | (3,453) |
| Acquisition of citrus groves | — | (29) |
| Net proceeds from sale of real estate, property and equipment and assets held for sale | 79,090 | 3,287 |
| Change in deposits on purchase of citrus trees | (375) | (301) |
| Net cash provided by (used in) investing activities | 75,225 | (496) |
| Cash flows from financing activities: | ||
| Repayments on revolving lines of credit | (44,032) | (8,902) |
| Borrowings on revolving lines of credit | 19,310 | 23,019 |
| Principal payments on term loans | (19,383) | (759) |
| Dividends paid | (381) | (3,793) |
| Net cash (used in) provided by financing activities | (44,486) | 9,565 |
| Net increase (decrease) in cash and restricted cash | 17,570 | (596) |
| Cash and restricted cash at beginning of the period | 3,692 | 865 |
| Cash and restricted cash at end of the period | $21,262 | $269 |
| Non-cash investing activities: | ||
| Assets received in exchange for services | $298 | $— |
| Trees delivered in exchange for prior services | $176 | $— |
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