Alico reports Q2 EPS $1.49 vs. ($14.58) last year

Reports Q2 revenue $5.34M vs. $17.98M last year. Revenue decreased primarily due to the ongoing wind-down of citrus operations as the company focuses on diversified land usage and real estate development. The shift from a net loss to net income was principally the result of a $26.9M sale of approximately 2,950 acres of land during the quarter. “We believe our second quarter results, including net income attributable to Alico (ALCO), Inc. common stockholders of $11.4 million and Adjusted EBITDA of $16.9 million demonstrate the continued execution of our Strategic Transformation and our commitment to delivering on our stated goals,” said CEO John Kiernan.