ALICO INC
For the period ended Aug 5, 2024. Filed Aug 5, 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.
Aug 5, 2024 · Filed Aug 5, 2024
ALCO$37.09-0.3%Stored close · as of Nov 6, 2026
Contents
EX-99.1 · (in thousands)
(in thousands)
| Nine Months EndedJune 30, | ||
|---|---|---|
| 2024 | 2023 | |
| Net cash (used in) operating activities | ||
| Net income | $24,514 | $755 |
| Adjustments to reconcile net income to net cash used in operating activities: | ||
| Depreciation, depletion and amortization | 11,317 | 11,685 |
| Amortization of debt issue costs | 176 | 106 |
| Gain on sale of property and equipment | (81,520) | (7,368) |
| Loss on disposal of long-lived assets | 6,213 | 5,535 |
| Inventory net realizable value adjustment | 28,549 | 1,616 |
| Deferred income tax provision | 458 | 166 |
| Stock-based compensation expense | 544 | 731 |
| Other | 55 | (4) |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | (3,800) | (4,039) |
| Inventories | (12,624) | (12,767) |
| Prepaid expenses | 76 | (307) |
| Income tax receivable | 1,200 | 70 |
| Other assets | (46) | 315 |
| Accounts payable and accrued liabilities | (843) | 3,355 |
| Income taxes payable | 7,171 | — |
| Other liabilities | (160) | (467) |
| Net cash (used in) operating activities | (18,720) | (618) |
| Cash flows from investing activities: | ||
| Purchases of property and equipment | (15,931) | (12,923) |
| Acquisition of citrus groves | — | (77) |
| Net proceeds from sale of property and equipment | 86,394 | 7,583 |
| Notes receivable | — | (570) |
| Change in deposits on purchase of citrus trees | (375) | 269 |
| Net cash provided by (used in) investing activities | 70,088 | (5,718) |
| Cash flows from financing activities: | ||
| Repayments on revolving lines of credit | (44,032) | (51,953) |
| Borrowings on revolving lines of credit | 19,310 | 64,935 |
| Principal payments on term loans | (20,089) | (1,807) |
| Capital contribution received from noncontrolling interest | — | 441 |
| Dividends paid | (1,143) | (4,553) |
| Net cash (used in) provided by financing activities | (45,954) | 7,063 |
| Net increase in cash and restricted cash | 5,414 | 727 |
| Cash and cash equivalents and restricted cash at beginning of the period | 3,692 | 865 |
| Cash and cash equivalents at end of the period | $9,106 | $1,592 |
| Non-cash investing activities: | ||
| Assets received in exchange for services | $85 | $— |
| Trees delivered in exchange for prior tree deposits | $377 | $— |
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