ALICO INC
For the period ended Feb 12, 2025. Filed Feb 12, 2025.
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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 12, 2025 · Filed Feb 12, 2025
ALCO$37.09-0.3%Stored close · as of Nov 6, 2026
Contents
EX-99.1 · (in thousands)
(in thousands)
| Three Months Ended December 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Net cash used in operating activities | ||
| Net (loss) income | $(9,251) | $42,436 |
| Adjustments to reconcile net income to net cash used in operating activities: | ||
| Depreciation, depletion and amortization | 3,824 | 3,804 |
| Amortization of debt issue costs | 55 | 120 |
| Gain on sale of property and equipment | — | (77,025) |
| Loss on disposal of long-lived assets | 780 | 225 |
| Inventory net realizable value adjustment | 7,359 | 10,846 |
| Deferred income tax benefit | (2,179) | — |
| Stock-based compensation expense | 179 | 194 |
| Other | (107) | 36 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | (7,831) | (7,174) |
| Inventories | 1,911 | (169) |
| Prepaid expenses | (153) | (1,708) |
| Income tax receivable | — | 1,200 |
| Other assets | (35) | 2 |
| Accounts payable and accrued liabilities | (2,199) | (1,320) |
| Income taxes payable | — | 15,552 |
| Other liabilities | 50 | (188) |
| Net cash used in operating activities | (7,597) | (13,169) |
| Cash flows from investing activities: | ||
| Purchases of property and equipment | (3,017) | (3,490) |
| Net proceeds from sale of property and equipment | — | 79,090 |
| Change in deposits on purchase of citrus trees | — | (375) |
| Net cash (used in) provided by investing activities | (3,017) | 75,225 |
| Cash flows from financing activities: | ||
| Repayments on revolving lines of credit | (6,200) | (44,032) |
| Borrowings on revolving lines of credit | 19,300 | 19,310 |
| Principal payments on term loans | (352) | (19,383) |
| Dividends paid | (382) | (381) |
| Net cash provided by (used in) financing activities | 12,366 | (44,486) |
| Net increase in cash and cash equivalents and restricted cash | 1,752 | 17,570 |
| Cash and cash equivalents and restricted cash at beginning of the period | 3,398 | 3,692 |
| Cash and cash equivalents and restricted cash at end of the period | $5,150 | $21,262 |
| Supplemental disclosure of cash flow information | ||
| Cash paid for interest, net of amounts capitalized | $655 | $1,820 |
| Cash paid for income taxes, net of refunds | $— | $1,200 |
| Non-cash investing and financing activities: | ||
| Dividends declared but unpaid | $382 | $381 |
| Assets received in exchange for services | $— | $298 |
| Trees delivered in exchange for prior tree deposits | $— | $176 |
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