Maui Land & Pineapple reports Q1 EPS (7c) vs. (7c) last year

Reports Q1 revenue $2.5M vs. $2.3M last year. “Maui Land & Pineapple Company’s renewed mission to maximize the productive use of our diverse portfolio of land and commercial properties is starting to yield tangible results,” said CEO Race Randle. “Despite the challenges following the 2023 Maui wildfires, concerted efforts to reposition and increase occupancy at the Kapalua Village and Hali’imaile Town Centers contributed to an 8% year-over-year growth in revenue. Our strategic investments to enhance the Company’s commercial properties and prepare unimproved landholdings for new projects will help position us to meet the needs of current and prospective tenants, improve Maui’s housing supply, and create added value for shareholders. During the first quarter of the year, we have focused on new strategic investments in market research, planning, and engineering while also evaluating future land sale strategies. We believe these investments will enhance the value and productivity of unimproved land through planning and building necessary infrastructure for improved lots. Concurrently, we plan on establishing new partnerships to accelerate the utilization of entitled parcels and have begun listing non-strategic assets for sale.”