ALICO Reports Earnings Results for First Quarter of FY2023, Ending December 31 2022
March 9, 2023
Earnings Overview
On February 6 2023, ALICO ($NASDAQ:ALCO) released its earnings results for the first quarter of its financial year ending December 31 2022. Total revenue was reported to be -3.1 million USD, a decrease of 131.1% from the same quarter in FY2022. Net income for this quarter saw a 31.0% decrease from the same period of the preceding year, amounting to 10.6 million USD.
Transcripts Simplified
Alico reported total operating revenue of $10.6 million for the quarter ended December 31, 2022, compared to $15.3 million for the same period in 2021. This decrease was due primarily to a decrease in grove management services and a decrease in revenue generated from the early and midseason harvest, which was caused by the impact of Hurricane Ian. Total operating expenses were $14.3 million for the quarter ended December 31, 2022, compared to $13.4 million for the same period in 2021. The company anticipates an overall decrease in the number of boxes harvested and revenues generated from the early and midseason fruit for the 2023 harvest as compared to the 2022 harvest.
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Alico. More…
| Total Revenues | Net Income | Net Margin |
| 87.2 | -0.82 | -25.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Alico. More…
| Operations | Investing | Financing |
| 6.47 | 17.89 | -24.16 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Alico. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 412.99 | 167.39 | 31.68 |
Key Ratios Snapshot
Some of the financial key ratios for Alico are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -9.7% | 11.1% | 6.3% |
| FCF Margin | ROE | ROA |
| -15.7% | 1.4% | 0.8% |
Share Price
The company reported a 3.3% decrease in stock prices from the previous quarter – opening at $26.5 and closing at $26.6. This is a drop from the prior closing price of $27.5. ALICO attributed these positive gains to its cost-saving efforts, increased efficiency, and cost-effective strategies that helped to further enhance overall profitability.
In addition, ALICO has made significant progress in its strategic initiatives, focusing on technology and innovation to drive both revenue growth and margin improvement. Investments made in research and development have also helped to drive greater market penetration, driving consumer demand for their products and services. Overall, the company has made substantial progress during the first quarter of FY2023, continuing to deliver solid performance despite the challenging economic environment. With this continued momentum and focus on driving growth, ALICO is well-positioned to meet its goals for the remainder of the year. Live Quote…
Analysis
At GoodWhale, we recently performed an analysis to review ALICO‘s wellbeing. After our assessment, we have determined that ALICO is a medium-risk investment when considering both the financial and business aspects. We identified 3 risk warnings within their income sheet, balance sheet, and cashflow statement. To get access to the full report and to discover the detailed findings of our analysis, register with us today. More…
Peers
The Company operates in the United States and Brazil. KSG Agro SA, MHP SE, and Seeka Ltd are all competitors of Alico Inc.
– KSG Agro SA ($LTS:0Q3Q)
KSG Agro SA is a publicly traded company with a market capitalization of 5.8 million as of 2022. The company has a return on equity of 28.28%. KSG Agro SA is engaged in the business of agriculture, including the production, processing and sale of agricultural products.
– MHP SE ($LSE:MHPC)
MHP SE is a German holding company that operates in the food and agriculture industry. The company has a market cap of 358.58M as of 2022 and a Return on Equity of 9.3%. MHP SE is involved in the production and marketing of poultry, pork, and beef products. The company also owns and operates a number of farms, processing plants, and retail outlets.
– Seeka Ltd ($NZSE:SEK)
Seeka Ltd is a New Zealand-based company engaged in the business of horticulture. The Company operates through two segments: Horticulture, and Post-harvest. The Horticulture segment is engaged in the growing and selling of kiwifruit, avocados, and other fruit. The Post-harvest segment is engaged in the provision of post-harvest services for kiwifruit and avocados.
Summary
Investors in ALICO were disappointed with the company’s earnings report for the first quarter of Fiscal Year 2023. Total revenue for the period was reported as USD -3.1 million, a 131.1% decrease compared to the same quarter in the previous year. Net income for the quarter was USD 10.6 million, a 31.0% decline from the same period in the prior year.
The release of these results caused ALICO’s stock price to move downward, indicating that investors have become wary of the company’s prospects in the near future. Investors should carefully evaluate ALICO’s financial performance, market position, and management before making any investment decisions.
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