Form 8-K

8-K — ALICO, INC.

Accession: 0000003545-26-000041

Filed: 2026-08-10

Period: 2026-08-10

CIK: 0000003545

SIC: 0100 (AGRICULTURE PRODUCTION - CROPS)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — alco-20260810.htm (Primary)

EX-99.1 (alco-3q2026xexx991xer.htm)

GRAPHIC (img49491758_0.jpg)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: alco-20260810.htm · Sequence: 1

alco-20260810

false000000354500000035452026-08-102026-08-10

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

_______________________________________________________________________

FORM 8-K

_______________________________________________________________________

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (date of earliest event reported): August 10, 2026

_______________________________________________________________________

ALICO, INC.

_______________________________________________________________________

(Exact name of registrant as specified in its charter)

_______________________________________________________________________

Florida 0-261 59-0906081

(State or other jurisdiction of incorporation) (Commission File Number) (I.R.S. Employer Identification No.)

10070 Daniels Interstate Court, Suite 200, Fort Myers, FL 33913

_______________________________________________________________________

(Address of principal executive offices)(Zip Code)

239-226-2000

_______________________________________________________________________

(Registrant’s telephone number, including area code)

Not Applicable

_______________________________________________________________________

(Former Name or Former Address, if Changed Since Last Report)

_______________________________________________________________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 C.F.R. 230.425)

☐ Soliciting Material pursuant to Rule 14a-12 under the Exchange Act (17 C.F.R. 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14D-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 C.F.R. 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading Symbol(s) Name of each exchange on which registered

Common Stock ALCO Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

☐ Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition

On August 10, 2026, Alico, Inc. (the “Company”) issued a press release announcing its financial results for the three and nine months ended June 30, 2026. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K (the “Report”).

The information contained in Item 2.02 of this Report (including Exhibit 99.1 attached hereto) shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, or incorporated by reference in any filing under the Exchange Act or the Securities Act of 1933, as amended, except as expressly provided by specific reference in such a filing.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No. Description

99.1

Press Release of the Company, dated August 10, 2026

104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: August 10, 2026

ALICO, INC.

By: /s/ Bradley Heine

Bradley Heine

Chief Financial Officer

EX-99.1

Filename: alco-3q2026xexx991xer.htm · Sequence: 2

Document

Exhibit 99.1

Alico, Inc. Announces Financial Results for the

Third Quarter Ended June 30, 2026

Company Entered Agricultural Lease Agreement for Approximately 3,280 Acres, Including a Purchase Option for $29.5 million, Extending Alico’s Land Monetization Strategy Beyond Outright Sales

Corkscrew Grove East Village Advances to State and Federal Permitting Process Following April 2026 Local Entitlement Approval

Company Completes $10.0 million of the Share Repurchase Program, Repurchasing Approximately 245,000 Shares, While Continuing to Strengthen Cash Position

Recently Strengthened Liquidity Position Extends Operating Runway Through 2029, Without Requiring Any Additional Asset Sales

Company Raises Fiscal Year 2026 Guidance Projecting Adjusted EBITDA of approximately $15 Million, Cash of Approximately $48 million and Net Debt of Approximately $37 million

Fort Myers, FL, August 10, 2026 - Alico, Inc. (“Alico”, the “Company”, “we”, “us” or “our”) (Nasdaq: ALCO) today announced financial results for the third quarter ended June 30, 2026.

Management Comments

John Kiernan, President and Chief Executive Officer of the Company, stated, “Our third quarter results reflect the continued, steady execution of our Strategic Transformation. For example, the additional agricultural lease we recently signed for approximately 3,280 acres, structured with a purchase option, reflects how our land monetization strategy allows us to generate recurring lease income while preserving the optionality to realize additional value from the property over time, and we believe it reflects the discipline and flexibility that has defined our transformation to date. Corkscrew Grove East Village received local entitlement approval in April and is now advancing through the state and federal permitting process."

Mr. Kiernan continued, “We continue to review our operating cost structure to improve our cash flow, and this year we are executing a number of initiatives to reduce overhead, including a new office lease that we expect will begin delivering additional savings starting in the second quarter of next fiscal year. We recognize this remains a multi-year transformation, and we believe the markers of progress we are reporting this quarter — on our balance sheet, in our leasing program, and in our development entitlements — demonstrate that we remain on track to unlock the substantial value we believe exists within our approximately 47,300-acre Florida portfolio, while maintaining our commitment to responsible land stewardship. With cash and cash equivalents of $55.6 million at quarter-end, we believe we've extended our financial runway through fiscal year 2029, without requiring any

additional asset sales, giving us the flexibility to advance our development pipeline on our own timeline."

Results of Operations for the Third Quarter 2026:

(in thousands, except for per share amounts and percentages)

(Unaudited) (Unaudited)

Three Months Ended June 30, Nine Months Ended June 30,

2026 2025 % Change 2026 2025 % Change

Revenue $ 9,040 $ 8,390 7.7 % $ 16,267 $ 43,264 (62.4) %

Net income (loss) attributable to Alico, Inc. common stockholders $ 2,125 $ (18,289) 111.6 % $ 10,025 $ (138,841) 107.2 %

Gain (loss) per diluted common share $ 0.29 $ (2.39) 112.1 % $ 1.32 $ (18.18) 107.3 %

EBITDA (1)

$ 4,601 $ 19,204 (76.0) % $ 23,731 $ (2,210) 1,173.8 %

Adjusted EBITDA (1)

$ 4,601 $ 19,273 (76.1) % $ 24,202 $ 25,330 (4.5) %

Net cash provided by operating activities $ 7,141 $ 7,026 1.6 % $ 2,332 $ 22,841 (89.8) %

June 30,

2026 September 30, 2025 $ Change June 30,

2026 September 30, 2025

(Unaudited)

Balance Sheet Items

Cash and cash equivalents $ 55,584 $ 38,128 $ 17,456 Current ratio

7.96 to 1

9.56 to 1

Current portion of long-term debt $ 250 $ 250 $ —

Net Debt (1)

$ 29,834 $ 47,419

Long-term debt, net $ 82,668 $ 82,797 $ (129)

Lines of credit $ 2,500 $ 2,500 $ —

Total Alico stockholders’ equity $ 104,829 $ 103,032 $ 1,797

(1) “EBITDA,” “Adjusted EBITDA” and “Net Debt” are non-GAAP financial measures. See “Non-GAAP Financial Measures” at the end of this earnings release for details regarding these measures, including reconciliations of the Non-GAAP Financial Measures to their most directly comparable GAAP measures.

For the three months ended June 30, 2026 and 2025, the Company reported net income (loss) attributable to Alico common stockholders of $2.1 million and $(18.3) million, respectively. The shift from a net loss to net income attributable to Alico common stockholders for the three months ended June 30, 2026 was principally the result of the Company's Strategic Transformation, including the resulting acceleration of depreciation on its citrus trees during the three months ended June 30, 2025 and increased lease income as a result of the Company's share of crop insurance payments received by one of its lessees during the three months ended June 30, 2026. For the three months ended June 30, 2026, the Company had earnings of $0.29 per diluted common share, compared to a loss of $(2.39) per diluted common share for the three months ended June 30, 2025.

For the three months ended June 30, 2026 and 2025, the Company had EBITDA of $4.6 million and $19.2 million, respectively, and Adjusted EBITDA of $4.6 million and $19.3 million, respectively.

These quarterly financial results reflect the evolving nature of the Company’s business as it executes its strategic transformation. Historically, the Company was primarily engaged in citrus production and sales, which created significant seasonal patterns with the first and second quarters typically generating most annual revenue and higher working capital requirements in the third and fourth quarters coinciding with harvesting cycles. As part of the Company’s strategic transformation, the

Company has made the decision to wind down its citrus operations and focus on land sales, land leasing, and land development activities. The Company completed its last significant citrus harvest in April 2025. While the Company expects the historical seasonal patterns to diminish over time as this transition progresses, the Company’s financial results may continue to reflect some seasonality during the wind-down period. Additionally, the Company’s new focus on land sales, leasing, and development may introduce different timing patterns for revenue recognition based on transaction closings and development project milestones. Given this business transformation, results for any quarter may not be indicative of results for the full year, and historical seasonal patterns may not be predictive of future quarterly performance as the Company completes the transition to its new business model.

Other Corporate Financial Information

General and administrative expense decreased 21.2% for the three months ended June 30, 2026, compared to the three months ended June 30, 2025 due to lower employee expenses and insurance premiums.

General and administrative expense decreased 3.9% for the nine months ended June 30, 2026, compared to the nine months ended June 30, 2025 due to lower depreciation expense, partially offset by an increase in contract labor costs and a provision for credit losses on certain citrus receivables.

Dividend

On July 16, 2026, the Company paid a third quarter cash dividend of $0.05 per share on its outstanding common stock to stockholders of record as of July 2, 2026.

Balance Sheet and Liquidity

The Company continues to demonstrate financial strength within its balance sheet, as highlighted below:

•The Company’s working capital was $50.6 million at June 30, 2026, representing a 7.96 to 1.00 current ratio.

•Total debt was $85.4 million and net debt was $29.8 million at June 30, 2026, compared to $85.5 million and $47.4 million, respectively, at September 30, 2025.

•Available borrowings under the Company’s line of credit were approximately $92.5 million at June 30, 2026.

•The Company's Minimum Liquidity Requirement under its Credit Agreement was $5.8 million at June 30, 2026.

Real Estate and Land Development

In June 2026, Alico acquired the remaining 49% ownership interest in Citree, a joint venture through which the Company held a 51% interest in approximately 1,200 acres of land in DeSoto County, for $2.0 million in cash, plus potential contingent consideration and the assumption of all of Citree’s approximately $3.3 million of outstanding debt. Following the transaction, Alico owns 100% of the entity and its underlying acreage. The Company believes this transaction simplifies its corporate structure and gives it full ownership and control over the future use of this property, consistent with its broader strategy of streamlining the business.

In January 2025, Alico sought legislative approval from the Florida Legislature to establish the Corkscrew Grove Stewardship District. Stewardship districts are independent special districts authorized to plan, finance, construct, operate and maintain public infrastructure in planned developments, operating on the principle that growth pays for itself. Similar districts are used in communities like Ave Maria and Lakewood Ranch.

In March 2025, the Company announced the creation of Corkscrew Grove Villages located on approximately 4,660 acres at the northwest corner of Collier County on the border of Lee and Hendry counties. These two master planned developments are expected to comply with the County’s 1,500- acre cap for Villages, and be accompanied by more than 6,000 acres of permanent conservation areas. The plan for these villages is to feature approximately 9,000 homes, including approximately 750 affordable housing units total for essential workers, and approximately 480,000 square feet of commercial space offering retail, dining, office, and medical uses. The East Village includes an additional 100,000 square feet for indoor self-storage and a minimum of 45,000 square feet of civic uses, and the West Village may include similar additional uses depending on County requirements and future site planning.

Alico launched its multi-year entitlement process for Corkscrew Grove Villages by submitting an application to Collier County for local approval for the first of the two villages, the East Village. The Company has also submitted permits to the South Florida Water Management District and the U.S. Army Corps of Engineers for both villages.

In April 2026, Alico received final local entitlement approvals from the Collier County Board of County Commissioners for the East Village component of Corkscrew Grove Villages. This advances the project toward obtaining the required federal permits from the U.S. Army Corps of Engineers and U.S. Fish and Wildlife Service, as well as the state permits from the South Florida Water Management District. Construction on the first village could begin in 2028 or 2029 if all approvals are granted.

Alico maintains a strong commitment to regional conservation, having transferred lands over the past 40 years that became part of the Corkscrew Regional Ecosystem Watershed (CREW), Tiger Creek Preserve and Okaloacoochee Slough Wildlife Management Area. In 2023, Alico sold more than 17,000 acres of land from central Hendry County, commonly referred to as Devil’s Garden, to the Florida Department of Environmental Protection as part of the Florida Forever program. Since Devil’s Garden was added to the Florida Forever Priority List in 2002, Alico has sold or entered easements to protect more than 46,800 acres within the project boundaries. Combined with the more than 6,000 acres expected to be placed in conservation as part of the Corkscrew Grove Villages proposal, these efforts support the implementation of the Florida Wildlife Corridor.

The plan for Corkscrew Grove Villages aligns with the Collier Rural Land Stewardship Area (RLSA) program, an innovative, incentive-based approach to sustainable rural growth that has received national recognition. The villages will enhance public infrastructure and provide significant economic benefit to the region at no additional cost to taxpayers.

Fiscal Year 2026 Guidance

The Company raises its Adjusted EBITDA guidance to approximately $15 million in fiscal year 2026. The Company now expects to end the fiscal year with cash of approximately $48 million and net debt of approximately $37 million, with only the minimum required balance of $2.5 million on its

revolving line of credit. In the event that any additional capital is returned to shareholders through increased common dividends, special dividends, tender offers or open market share repurchases during the 2026 fiscal year, the Company’s cash balance could be reduced and net debt could be correspondingly increased.

Conference Call Information

The Company will host a conference call to discuss its financial results on August 11, 2026, at 8:30 am Eastern Time. Interested parties may join the conference call by dialing 1-877-407-3982 in the United States and 1-201-493-6780 from outside of the United States. The participant identification to join the conference call is “ALICO”. A telephone replay will be available approximately three hours after the call concludes, and will be available through August 25, 2026. Listeners in the United States may dial 1-844-512-2921 and international listeners may dial 1-412-317-6671. The passcode for the playback is 13761363.

About Alico

Alico, Inc. (Nasdaq: ALCO) is a Florida-based agribusiness and land management company with over 125 years of experience. Following its strategic transformation in 2025, Alico operates as a diversified land company with approximately 47,300 acres across 7 Florida counties. The Company focuses on strategic land development opportunities and diversified agricultural operations, leveraging its extensive land portfolio to create long-term shareholder value while maintaining its commitment to responsible land stewardship and conservation. Learn more about Alico at www.alicoinc.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include, but are not limited to, statements regarding our strategic transformation and business model; fiscal year 2026 and future guidance, outlook, projections, targets and expectations, including Adjusted EBITDA, EBITDA, cash, cash flow, liquidity, borrowing availability, minimum liquidity requirements, capital expenditures, debt, net debt and potential uses of capital; land sales, land monetization strategy and expected proceeds and timing; leasing, use of acreage and expected revenues from agricultural and other partnerships; real estate entitlement, permitting and development activities and timelines, including Corkscrew Grove Villages, stewardship district matters, regulatory decisions and potential construction timing; future use, conservation and estimated value of our land holdings and any other statements relating to our future activities events or conditions. These statements are based on our current expectations, estimates and projections about our business based, in part, on assumptions made by our management and can be identified by terms such as “if,” “will,” “should,” “expects,” “plans,” “hopes,” “anticipates,” “could,” “intends,” “targets,” “projects,” “contemplates,” “believes,” “estimates,” “forecasts,” “predicts,” “potential” or “continue” or the negative of these terms or other similar expressions.

These forward-looking statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in the forward-looking statements due to numerous factors, including, but not limited to: our ability to successfully develop and execute our strategic growth initiatives, including our Strategic Transformation, which may not achieve intended outcomes and may entail unintended consequences or additional costs; our planned shift in revenue mix toward real estate development and diversified farming operations and the risk that adverse

events in these areas could disproportionately affect our business; the highly competitive nature of the land development and agricultural industries and our ability to maintain market share; our reputation and any harm thereto; the risk that any transaction intended to qualify as a Section 1031 Exchange is taxable or cannot be completed on a tax-deferred basis, and potential limitations on the use of our net operating loss carryforwards and other tax attributes; the possibility that significant corporate transactions do not achieve intended results or present unforeseen risks; sensitivity of our earnings to supply, demand and pricing for land sales, leasing and development activities and any remaining agricultural products; adverse weather conditions, natural disasters and other natural conditions (including hurricanes and tropical storms), and the effects of climate change or legal, regulatory or market measures to address climate change, particularly given our geographic concentration in Florida; Environmental, Social and Governance matters, including those related to our workforce and sustainability; changes in classification or valuation methods employed by county property appraisers that could materially increase our real estate taxes; compliance with environmental laws; our ability to attract, retain and develop key employees; potential future material weaknesses and other deficiencies in our internal control over financial reporting; macroeconomic conditions, including inflation, armed conflicts and geopolitical instability, and pandemics or health crises; the increased costs of being a publicly traded company; system security risks, cybersecurity incidents, data protection breaches and systems integration issues, as well as compliance with complex and evolving privacy and data protection laws; pricing volatility and unpredictability for our agricultural products, risks of product contamination and product liability, water use regulations and other restrictions on access to water, and changes in immigration laws affecting labor availability; increases in commodity and input costs (including fuel and chemicals) and transportation risks; our significant indebtedness, our ability to generate sufficient cash flow to service our debt and comply with covenants (including exposure to variable interest rates), and our relationships with lenders; the volatility of our common stock price; our ability to continue to pay or maintain cash dividends; and other factors described under the sections "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" to be included in our Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2026 that will be filed with the Securities and Exchange Commission (the “SEC”) and the Company’s Annual Report on Form 10-K for the year ended September 30, 2025 filed with the SEC on November 24, 2025. Except as required by law, we do not undertake an obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments, or otherwise.

This press release also contains financial projections that are necessarily based upon a variety of estimates and assumptions which may not be realized and are inherently subject, in addition to the risks identified in the forward-looking statement disclaimer, to business, economic, competitive, industry, regulatory, market and financial uncertainties, many of which are beyond the Company’s control. There can be no assurance that the assumptions made in preparing the financial projections will prove accurate. Accordingly, actual results may differ materially from the financial projections.

Investor Contact:

John Mills Brad Heine

ICR Chief Financial Officer

(646) 277-1254 (239) 226-2000

InvestorRelations@alicoinc.com bheine@alicoinc.com

ALICO, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands, except share amounts)

June 30,

2026 September 30,

2025

(Unaudited)

ASSETS

Current assets:

Cash and cash equivalents $ 55,584 $ 38,128

Accounts receivable, net 591 1,014

Inventories 186 4,220

Income tax receivable — 338

Assets held for sale — 9,176

Prepaid expenses and other current assets 1,502 2,043

Total current assets 57,863 54,919

Restricted cash 762 762

Property and equipment, net 131,238 142,065

Goodwill 2,246 2,246

Other non-current assets 6,554 1,535

Total assets $ 198,663 $ 201,527

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current liabilities:

Accounts payable $ 984 $ 403

Accrued liabilities 5,214 4,563

Current portion of long-term debt 250 250

Income tax payable 584 —

Other current liabilities 239 527

Total current liabilities 7,271 5,743

Long-term debt, net 82,668 82,797

Lines of credit 2,500 2,500

Deferred income tax liabilities, net 1,395 2,455

Other liabilities — 38

Total liabilities 93,834 93,533

Stockholders’ equity:

Preferred stock, no par value, 1,000,000 shares authorized; none issued

— —

Common stock, $1.00 par value, 15,000,000 shares authorized; 8,416,145 shares issued and 7,416,327 and 7,645,360 shares outstanding at June 30, 2026 and September 30, 2025, respectively

8,416 8,416

Additional paid in capital 22,787 20,410

Treasury stock, at cost, 999,818 and 770,785 shares held at June 30, 2026 and September 30, 2025, respectively

(35,653) (26,185)

Retained earnings 109,279 100,391

Total Alico stockholders’ equity 104,829 103,032

Noncontrolling interest — 4,962

Total stockholders’ equity 104,829 107,994

Total liabilities and stockholders’ equity $ 198,663 $ 201,527

ALICO, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)

(in thousands, except per share amounts)

Three Months Ended

June 30, Nine Months Ended

June 30,

2026 2025 2026 2025

Operating revenues:

Alico Citrus $ 1,123 $ 7,805 $ 5,797 $ 41,384

Land Management and Other Operations 7,917 585 10,470 1,880

Total operating revenues 9,040 8,390 16,267 43,264

Operating expenses 4,994 36,446 22,363 229,255

Gross profit (loss) 4,046 (28,056) (6,096) (185,991)

General and administrative expenses 2,258 2,867 8,492 8,841

Gain on sale of property and equipment 98 5,553 24,767 21,400

Income (loss) from operations 1,886 (25,370) 10,179 (173,432)

Other expense, net:

Interest income 515 153 1,454 259

Interest expense (951) (907) (2,875) (2,964)

Other income, net 24 — 20 255

Total other expense, net (412) (754) (1,401) (2,450)

Income (loss) before income taxes 1,474 (26,124) 8,778 (175,882)

Income tax benefit (93) (7,800) (476) (36,874)

Net income (loss) 1,567 (18,324) 9,254 (139,008)

Net loss attributable to noncontrolling interests 558 35 771 167

Net income (loss) attributable to Alico, Inc. common stockholders $ 2,125 $ (18,289) $ 10,025 $ (138,841)

Per share information attributable to Alico, Inc. common stockholders:

Income (loss) per common share:

Basic $ 0.29 $ (2.39) $ 1.33 $ (18.18)

Diluted $ 0.29 $ (2.39) $ 1.32 $ (18.18)

Weighted-average number of common shares outstanding:

Basic 7,419 7,641 7,566 7,637

Diluted 7,437 7,641 7,577 7,637

Cash dividends declared per common share $ 0.05 $ 0.05 $ 0.15 $ 0.15

ALICO, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

(in thousands)

Nine Months Ended June 30,

2026 2025

Net cash provided by operating activities

Net income (loss) $ 9,254 $ (139,008)

Adjustments to reconcile net income (loss) to net cash provided by operating activities:

Depreciation, depletion and amortization 12,761 170,800

Amortization of debt issue costs 130 127

Gain on sale of property and equipment (24,767) (21,400)

Impairment of long-lived assets — 24,966

Loss on disposal of long-lived assets — 780

Inventory net realizable value adjustment — 9,895

Deferred income tax benefit (1,060) (36,869)

Stock-based compensation expense 456 559

Other 154 (390)

Changes in operating assets and liabilities:

Accounts receivable (192) (839)

Inventories 4,034 17,194

Prepaid expenses 541 —

Income tax receivable 338 896

Other assets (164) 10

Accounts payable and accrued liabilities 665 (4,048)

Income taxes payable 584 —

Other liabilities (402) 168

Net cash provided by operating activities 2,332 22,841

Cash flows from investing activities:

Purchases of property and equipment (1,713) (4,049)

Net proceeds from sale of property and equipment 34,971 28,172

Notes receivable — 570

Advance to Corkscrew Grove Stewardship District (5,071) —

Net cash provided by investing activities 28,187 24,693

Cash flows from financing activities:

Repayments on revolving lines of credit — (25,194)

Borrowings on revolving lines of credit — 19,300

Principal payments on term loans (188) (1,057)

Purchases of common stock (10,003) —

Acquisition of Citree NCI (2,007) —

Exercise of stock options 272 —

Dividends paid (1,137) (1,146)

Net cash used in financing activities (13,063) (8,097)

Net increase in cash and cash equivalents and restricted cash 17,456 39,437

Cash and cash equivalents and restricted cash at beginning of the period 38,890 3,398

Cash and cash equivalents and restricted cash at end of the period $ 56,346 $ 42,835

Supplemental disclosure of cash flow information

Cash paid for interest, net of amounts capitalized $ 2,474 $ 2,844

Cash (received) paid for income taxes, net of refunds $ (349) $ (900)

Non-cash investing and financing activities:

Assets received in exchange for services $ 1,207 $ —

Dividends declared but unpaid $ 371 $ 382

Non-GAAP Financial Measures

In addition to the measurements prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”), Alico utilizes EBITDA, Adjusted EBITDA and Net Debt, which are non-GAAP financial measures within the meaning of Regulation G and Item 10(e) of Regulation S-K, to evaluate the performance of its business, in the case of EBITDA and Adjusted EBITDA, and liquidity, in the case of Net Debt. Beginning with the reporting period ended December 31, 2025, we have revised the calculation of Adjusted EBITDA to better reflect the underlying performance of the business in light of the Strategic Transformation and changes to our model and operating strategy. Specifically, we now adjust for impairment of long-lived assets and restructuring and other charges, and have determined not to adjust for inventory net realizable value, gain or sale of property and equipment, or other historical adjustments.

Due to significant depreciable assets associated with the nature of our operations and, to a lesser extent, interest costs associated with our capital structure, management believes that EBITDA, Adjusted EBITDA and Net Debt are important measures to evaluate our results of operations between periods on a more comparable basis and to help investors analyze underlying trends in our business, evaluate the performance, in the case of EBITDA and Adjusted EBITDA, and liquidity, in the case of Net Debt, of our business both on an absolute basis and relative to our peers and the broader market, provide useful information to both management and investors by excluding certain items that may not be indicative of our core operating results and operational strength of our business and help investors evaluate our ability to service our debt. Such measurements are not prepared in accordance with U.S. GAAP and should not be construed as an alternative to reported results determined in accordance with U.S. GAAP. The non-GAAP information provided is unique to Alico and may not be consistent with methodologies used by other companies. EBITDA is defined as net income before interest expense, provision for income taxes, depreciation, depletion and amortization. Adjusted EBITDA is defined as EBITDA as further adjusted for impairment of long-lived assets and restructuring and other charges. Net Debt is defined as Current portion of long-term debt, Long-term debt, net and Lines of credit, less cash. We are unable to provide a reconciliation of Adjusted EBITDA to net (loss) income attributable to Alico, Inc. common stockholders for the year ended September 30, 2026 as the adjustments are not within our control or cannot be reasonably predicted without unreasonable effort.

EBITDA and Adjusted EBITDA

(in thousands) (Unaudited) (Unaudited)

Three Months Ended

June 30, Nine Months Ended

June 30,

2026 2025 2026 2025

Net income (loss) attributable to Alico, Inc. common stockholders $ 2,125 $ (18,289) $ 10,025 $ (138,841)

Interest expense, net 436 754 1,421 2,705

Income tax benefit (93) (7,800) (476) (36,874)

Depreciation, depletion and amortization 2,133 44,539 12,761 170,800

EBITDA $ 4,601 $ 19,204 $ 23,731 $ (2,210)

Non-GAAP Adjustments:

Impairment of long-lived assets — — — 24,966

Restructuring and other charges — 69 471 2,574

Adjusted EBITDA $ 4,601 $ 19,273 $ 24,202 $ 25,330

Net Debt

(in thousands) (Unaudited) (Forecasted)

June 30,

2026 September 30,

2025 September 30,

2026

Current portion of long-term debt $ 250 $ 250 $ 250

Long-term debt, net 82,668 82,797 82,606

Lines of credit 2,500 2,500 2,500

Total Debt 85,418 85,547 85,356

Less: Cash and cash equivalents (55,584) (38,128) (48,000)

Net Debt $ 29,834 $ 47,419 $ 37,356

Source: Alico, Inc.

GRAPHIC

Filename: img49491758_0.jpg · Sequence: 6

Binary file (3731 bytes)

Download img49491758_0.jpg

XML — IDEA: XBRL DOCUMENT

XML

Filename: R1.htm · Sequence: 8

v3.26.1

Cover Page

Aug. 10, 2026

Cover [Abstract]

Document Type

8-K

Document Period End Date

Aug. 10, 2026

Entity Registrant Name

ALICO, INC.

Entity Incorporation, State or Country Code

Entity File Number

0-261

Entity Tax Identification Number

59-0906081

Entity Address, Address Line One

10070 Daniels Interstate Court

Entity Address, Address Line Two

Suite 200

Entity Address, City or Town

Fort Myers

Entity Address, State or Province

Entity Address, Postal Zip Code

33913

City Area Code

239

Local Phone Number

226-2000

Written Communications

false

Soliciting Material

false

Pre-commencement Tender Offer

false

Pre-commencement Issuer Tender Offer

false

Title of 12(b) Security

Common Stock

Trading Symbol

ALCO

Security Exchange Name

NASDAQ

Entity Emerging Growth Company

false

Amendment Flag

false

Entity Central Index Key

0000003545

- Definition

Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.

+ References

No definition available.

+ Details

Name:

dei_AmendmentFlag

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Area code of city

+ References

No definition available.

+ Details

Name:

dei_CityAreaCode

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Cover page.

+ References

No definition available.

+ Details

Name:

dei_CoverAbstract

Namespace Prefix:

dei_

Data Type:

xbrli:stringItemType

Balance Type:

Period Type:

duration

- Definition

For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.

+ References

No definition available.

+ Details

Name:

dei_DocumentPeriodEndDate

Namespace Prefix:

dei_

Data Type:

xbrli:dateItemType

Balance Type:

Period Type:

duration

- Definition

The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.

+ References

No definition available.

+ Details

Name:

dei_DocumentType

Namespace Prefix:

dei_

Data Type:

dei:submissionTypeItemType

Balance Type:

Period Type:

duration

- Definition

Address Line 1 such as Attn, Building Name, Street Name

+ References

No definition available.

+ Details

Name:

dei_EntityAddressAddressLine1

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Address Line 2 such as Street or Suite number

+ References

No definition available.

+ Details

Name:

dei_EntityAddressAddressLine2

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Name of the City or Town

+ References

No definition available.

+ Details

Name:

dei_EntityAddressCityOrTown

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Code for the postal or zip code

+ References

No definition available.

+ Details

Name:

dei_EntityAddressPostalZipCode

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Name of the state or province.

+ References

No definition available.

+ Details

Name:

dei_EntityAddressStateOrProvince

Namespace Prefix:

dei_

Data Type:

dei:stateOrProvinceItemType

Balance Type:

Period Type:

duration

- Definition

A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityCentralIndexKey

Namespace Prefix:

dei_

Data Type:

dei:centralIndexKeyItemType

Balance Type:

Period Type:

duration

- Definition

Indicate if registrant meets the emerging growth company criteria.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityEmergingGrowthCompany

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.

+ References

No definition available.

+ Details

Name:

dei_EntityFileNumber

Namespace Prefix:

dei_

Data Type:

dei:fileNumberItemType

Balance Type:

Period Type:

duration

- Definition

Two-character EDGAR code representing the state or country of incorporation.

+ References

No definition available.

+ Details

Name:

dei_EntityIncorporationStateCountryCode

Namespace Prefix:

dei_

Data Type:

dei:edgarStateCountryItemType

Balance Type:

Period Type:

duration

- Definition

The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityRegistrantName

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityTaxIdentificationNumber

Namespace Prefix:

dei_

Data Type:

dei:employerIdItemType

Balance Type:

Period Type:

duration

- Definition

Local phone number for entity.

+ References

No definition available.

+ Details

Name:

dei_LocalPhoneNumber

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 13e

-Subsection 4c

+ Details

Name:

dei_PreCommencementIssuerTenderOffer

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14d

-Subsection 2b

+ Details

Name:

dei_PreCommencementTenderOffer

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Title of a 12(b) registered security.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b

+ Details

Name:

dei_Security12bTitle

Namespace Prefix:

dei_

Data Type:

dei:securityTitleItemType

Balance Type:

Period Type:

duration

- Definition

Name of the Exchange on which a security is registered.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection d1-1

+ Details

Name:

dei_SecurityExchangeName

Namespace Prefix:

dei_

Data Type:

dei:edgarExchangeCodeItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14a

-Subsection 12

+ Details

Name:

dei_SolicitingMaterial

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Trading symbol of an instrument as listed on an exchange.

+ References

No definition available.

+ Details

Name:

dei_TradingSymbol

Namespace Prefix:

dei_

Data Type:

dei:tradingSymbolItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Securities Act

-Number 230

-Section 425

+ Details

Name:

dei_WrittenCommunications

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration