Alico Predicts 11% Decrease In Annual Box Production

Comments
Loading...
  • Alico Inc ALCO raised its FY22 EBITDA and net income guidance to include expected real estate gains from the completed ranchland sale and the expected additional sales.
  • The company raised the FY22 net income outlook to $35.6 million - $38.9 million from the previous guidance of $6.00 million - $7.9 million.
  • The company also raised FY22 EBITDA to $59.0 million - $64.2 million from its initial projection of $26.9 million - $30.1 million.
  • Alico noted that the current citrus harvest season has been challenging in Florida.
  • The company lowered its adjusted EBITDA and adjusted net income outlook, reflecting lower box production anticipated this season, exacerbated by the January 2022 freeze.
  • Alico sees FY22 adjusted EBITDA to decrease from the initial projection of $26.0 million - $29.0 million to $13.0 million - $16.0 million.
  • The company projects FY22 adjusted net income to decrease from the initial projection of $5.3 million - $7.1 million to $(4.1) million - $(2.3) million.
  • This year, Alico estimates an 11% decline in its annual box production versus the prior season. 
  • Price Action: ALCO shares are trading higher by 3.39% at $37.21 on the last check Thursday.
Market News and Data brought to you by Benzinga APIs

Posted In:
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!