Successful Sale of Florida Property
Completed the sale of a property in Florida for $21.5 million, representing a 36% premium over the original purchase price, generating a gain of about $6 million.
Pistachio Harvest Revenue
Expected to recognize about $17 million in revenue from the pistachio harvest in the fourth quarter from three orchards, with the first cash payment received at over $5 million.
Positive Performance in Nut Crops
Pistachios and almonds performed well, with orchards exceeding state averages. The pistachio market showed resilience, especially in the EU and Middle East, reducing reliance on the Chinese market.
Improved Liquidity and Capital Position
Currently have over $170 million of immediately available capital and nearly $150 million of unpledged properties for additional collateral.