Alico Posts $11.4M Q2 Profit, $16.9M Adjusted EBITDA; Extends Cash Runway to 2028
Alico delivered $11.4M net income and $16.9M adjusted EBITDA for Q2 fiscal 2026, driven by a $26.9M land sale and repurchase of 245,399 shares for $10M. Cash and equivalents rose to $52.9M, extending its runway through FY2028, while Collier County approved local entitlements for Corkscrew Grove East Villages.
1. Second Quarter Financial Performance
Alico reported net income attributable to common stockholders of $11.4 million and Adjusted EBITDA of $16.9 million in the quarter ended March 31, 2026, reversing prior losses. Revenue declined 70.3% to $5.34 million as agricultural yields and land sale timing shifted, while diluted earnings per share stood at $1.49.
2. Capital Allocation and Liquidity Position
Land sales for 2,950 acres generated $26.9 million in Q2, bringing year-to-date land sales to $34.6 million. The company repurchased 245,399 shares for $10 million through April, boosting cash and equivalents to $52.9 million and extending its financial runway through fiscal 2028.
3. Regulatory Milestone at Corkscrew Grove East
Local entitlements for Corkscrew Grove East Villages secured in April represent a key step in the development of the 46,000-acre Florida portfolio. Federal and state permitting processes remain on track, while 97% of farmable acreage continues generating revenue through agricultural partnerships.
4. Board of Directors Expansion
Eric Speron joined the board, bringing extensive real estate and institutional equity experience from First Foundation and J.P. Morgan. His appointments to other public company boards underscore Alico’s focus on strengthening governance as it advances its strategic transformation.