Alico Posts Profit Rebound on Both Reported Windows as Quarter Revenue Rises and Year-to-Date Revenue Softens, Filing Reports

Bottom line

For the three-month reporting period and the nine-month year-to-date period covered by this filing, ALICO, INC. (ticker ALCO) reported profitability on every measured line — diluted earnings per share, net income attributable to parent, and operating income — whereas the prior-year comparative windows were losses on the same lines. Reported revenue moved in opposite directions across the two windows: it rose year over year on the three-month window but declined year over year on the nine-month window. The filing evidence does not attribute this change to any single cause.

The reported figures come from this filing on form 10-Q for fiscal period period-ended-2026-06-30, filed under accession 0000003545-26-000043 by CIK 0000003545. On the income statement, the three-month period shows diluted earnings per share of $0.29 per diluted share USD/SHARES, a profit, against a loss of -$2.39 per diluted share USD/SHARES in the prior-year quarter; net income attributable to parent of $2,125,000 USD versus a prior-year loss of -$18,289,000 USD; and operating income of $1,886,000 USD versus a prior-year operating loss of -$25,370,000 USD. Revenue from contract with customers, excluding assessed tax, was $9,040,000 USD for the current quarter, higher than the prior-year quarter's $8,390,000 USD.

The nine-month year-to-date figures follow the same pattern on profitability. Diluted earnings per share were $1.32 per diluted share USD/SHARES against a prior-year loss of -$18.18 per diluted share USD/SHARES. Net income attributable to parent was $10,025,000 USD against a prior-year loss of -$138,841,000 USD. Operating income was $10,179,000 USD against a prior-year operating loss of -$173,432,000 USD. Revenue on the year-to-date window, however, was $16,267,000 USD, lower than the prior-year comparative of $43,264,000 USD.

Source scope is limited to the cited condensed consolidated financial statements and notes within this Quarterly Report on Form 10-Q; no peer, industry, or prior-quarter context is contained in the filing evidence for this section. The filing evidence contains no peer or industry comparison. The forward-looking narrative discusses the wind-down of the Alico Citrus division and expected changes in seasonal revenue patterns, but it does not attribute the reported quarter-to-date revenue increase or year-to-date revenue decrease to any single cause, and the financial statements themselves do not break out segment-level revenue or operating results here. The filing evidence does not attribute this change to any single cause. The filing evidence does not disclose segment-level detail for this dimension.

Readers looking for a peer comparison of similarly structured revenue-and-profit crossovers can consult the related insight on Covista Inc. Reports Higher Revenue, Operating Income, Net Income, and Diluted EPS Across the Twelve-Month Period Versus the Prior-Year Comparative, With Each Line Remaining Profitable Year Over Year, which covers a comparable full-period pattern, though it is not a direct comparison to this filing.

Financial performance

For the three-month reporting period, Revenue from Contract with Customer, Excluding Assessed Tax moved higher than the prior-year comparative, and Operating Income (Loss) crossed from a loss to a profit, with Net Income (Loss) Attributable to Parent likewise transitioning from a loss to a profit and Earnings Per Share, Diluted following the same loss-to-profit transition. The same pattern appears on a year-to-date basis: Operating Income (Loss), Net Income (Loss) Attributable to Parent, and Earnings Per Share, Diluted all moved from a loss in the prior-year comparative to a profit in the current nine-month year-to-date period. The Revenue line diverges from that pattern over the nine-month window, coming in below the prior-year comparative even though it was higher in the most recent quarter, so the bottom-line improvement is not tied to a simple top-line story.

The filing evidence does not attribute this change to any single cause.

The accounting context sits inside Note 1 – Description of Business and Basis of Presentation and the related Summary of Significant Accounting Policies. Management disclosed a Strategic Transformation in the Company’s business focus, winding down the Alico Citrus division that historically housed citrus production operations, and shifting toward a long-term diversified land usage and real estate development strategy, with the wind-down timed around the completion of that month’s harvest in April. The Company further stated that certain prior-year amounts have been reclassified in the condensed consolidated financial statements and accompanying notes for consistent presentation to the current period, and that those reclassifications had no impact on the consolidated statements of operations, balance sheets, cash flows, or working capital as previously reported.

Management also flagged the seasonality of the legacy citrus business, noting that the first and second quarters historically produced most of the Company’s annual revenue and that working capital requirements typically peak in the third and fourth quarters coinciding with harvesting cycles, so quarter-to-quarter comparisons are not necessarily indicative of full-year results. The interim Financial Statements are prepared on a basis consistent with the Company’s audited annual financial statements, with all adjustments described as normal recurring items.

The cited evidence contains no peer or industry comparison, so any cross-company benchmarking is unsupported here. The filing evidence contains no peer or industry comparison.

The cited evidence also does not disclose segment-level detail for these income-statement dimensions, so this section treats the figures as reported in the consolidated statements without allocating them across operating segments. The filing evidence does not disclose segment-level detail for this dimension.

Operating drivers and segments

The filing, identified as 10-Q period-ended-2026-06-30 filed under accession 0000003545-26-000043 by ALICO, INC. (ALCO, CIK 0000003545), presents its results in a single consolidated column rather than by reportable operating segment. The Condensed Consolidated Statements of Operations for both the three-month reporting period and the nine-month year-to-date period reported one consolidated revenue line and one consolidated operating income line, with no accompanying segment reconciliation in the cited portion of the document. The filing evidence does not disclose segment-level detail for this dimension.

At the consolidated level, revenue from contracts with customers, excluding assessed tax, was $9,040,000 for the three-month reporting period, compared with $8,390,000 for the prior-year comparative for the three-month reporting period. For the nine-month year-to-date period, the same line was $16,267,000, against $43,264,000 for the prior-year comparative for the nine-month year-to-date period. Operating income followed the same single-line format: $1,886,000 for the three-month reporting period versus -$25,370,000 for the prior-year comparative for the three-month reporting period, and $10,179,000 for the nine-month year-to-date period versus -$173,432,000 for the prior-year comparative for the nine-month year-to-date period. Because no operating-segment breakout is included, segment margin cannot be reconstructed from the cited evidence.

Management frames the period around a Strategic Transformation that includes the wind-down of the Alico Citrus division and expected changes in seasonal revenue patterns, alongside ongoing real estate development activities, land and related-asset transactions, capital-return expectations (dividends and share repurchases), compliance with financing arrangements including minimum liquidity requirements and the loan-to-value cap, and obligations under the CGSD funding arrangement. The cautionary note regarding forward-looking information reiterates that statements about strategy, transformation, the citrus wind-down, land-market conditions, regulatory matters, recently issued accounting pronouncements, and contingencies involve known and unknown risks and may cause actual results to differ materially. The cited narrative does not tie any specific operating-income movement in either window to a named cost line, contract, project, or counterparty.

Cash flow and capital

- Operating cash flow for the nine months ended on the current reporting date was positive at $2,332,000 USD, lower than the prior-year comparative of $22,841,000 USD. The filing evidence does not attribute this change to any single cause. - Investing cash flow for the nine months ended on the current reporting date was positive at $28,187,000 USD, higher than the prior-year comparative of $24,693,000 USD. The filing evidence does not attribute this change to any single cause. - Financing cash flow for the nine months ended on the current reporting date was a use of cash of -$13,063,000 USD, more negative than the prior-year comparative of -$8,097,000 USD. The filing evidence does not attribute this change to any single cause. - Capital expenditures for the nine months ended on the current reporting date were $1,713,000 USD, lower than the prior-year comparative of $4,049,000 USD. The filing evidence does not attribute this change to any single cause. - Share repurchases for the nine months ended on the current reporting date were $10,003,000 USD, higher than the prior-year comparative of $0 USD, which registered as a zero value. The filing evidence does not attribute this change to any single cause. - Ordinary common dividends paid for the nine months ended on the current reporting date were $1,137,000 USD, lower than the prior-year comparative of $1,146,000 USD. The filing evidence does not attribute this change to any single cause. - Cash and cash equivalents stood at $55,584,000 USD as of the balance sheet date the balance sheet date of June 30, 2026, while long-term debt excluding current maturities was $82,668,000 USD on the same date.

Reported facts - The operating cash flow line remained positive year over year but moved lower in the current nine-month window, signaling a softer cash generation profile from core operations even though the business continued to produce cash. - Investing activity was a net source of cash in both windows and accelerated in the current nine-month period, consistent with the company harvesting or monetizing assets faster than it deployed capital, while gross capital spending declined. - Financing activity widened as a cash outflow in the current period, reflecting larger combined outflows for dividends and share repurchases versus the prior year. - Capital expenditures declined year over year, suggesting management tightened reinvestment in property, plant, and equipment during the nine-month window even as the broader business posted a profit. - Share repurchases moved from a zero baseline in the prior year to a positive cash outflow in the current period, indicating an active buyback program that was either newly initiated or resumed. - Ordinary common dividend payments decreased in absolute terms, a more conservative capital return posture on the dividend line that contrasted with the ramp in repurchases. - The reported snapshot shows the company carrying cash alongside long-term debt, leaving the balance sheet in a position where both liquidity and leverage are visible side by side on the same reporting date.

Management explanations - Management describes the business as seasonal, with the first and second quarters producing most of the annual revenue and working capital needs typically peaking in the third and fourth quarters around harvest cycles, which the reader should keep in mind when interpreting the cash flow pattern. - Management notes that a market-price-mechanism contract recognizes an initial estimate with adjustments throughout the year as more current industry information becomes available, which can shift reported revenues in either direction between the interim estimate and the final harvest realization.

Analyst inference - The combination of lower operating cash flow, higher investing cash flow, and a wider financing outflow implies the company funded a step-up in capital returns — primarily through repurchases — partly by harvesting investing inflows rather than relying solely on operating cash, while also trimming capex. - The shift in mix from dividends toward repurchases is a noteworthy change in the capital-return composition that investors typically evaluate alongside earnings progression, since readers considering per-share compounding can pair this observation with the ROI Calculator when modeling future return scenarios. - Lower operating cash flow alongside a profit on the bottom line is consistent with the kind of working-capital absorption that management's seasonal commentary flags, though the specific drivers of the operating cash shortfall are not identified in the cited evidence.

Counter-evidence - The decline in operating cash flow combined with a decline in revenue from contracts with customers argues for a softer cash-conversion backdrop than the prior year, partially offsetting the favorable investing and capital-return narrative. - A higher absolute repurchase figure looks aggressive given that operating cash flow itself shrank, which is a counterweight to the read of a strengthening balance-sheet posture.

Unknowns - The filing evidence does not disclose segment-level detail for the cash flow lines, and The filing evidence does not disclose segment-level detail for this dimension. - The filing evidence contains no peer or industry comparison, and The filing evidence contains no peer or industry comparison.

Peer and historical context

- The fiscal-to-prior fiscal trajectory this period is one of a sharper nine-month result than a three-month result: the bottom line moves from a loss on both reported windows in the prior year to a profit this period, but only the nine-month window also shows a lower top line than the prior year. - A practitioner cross-checking the prior year would see that the prior-year nine-month loss sits against a prior-year nine-month revenue base that was higher than the current one, suggesting that the swing to profitability did not ride on top-line expansion on that window. - The revenue direction differs by reported window: the quarter shows a higher top line than the same quarter a year ago, while the nine-month cumulative shows a lower top line than the same nine months a year ago, a split that any peer-style comparison should flag rather than smooth over. - Operating cash flow moved in the opposite direction from net income on the nine-month comparison, declining against a positive prior-year base, which argues against reading the profitability swing as a clean, broad-based improvement in cash generation over the same window. - The profit recovery is uniform across operating income and net income for both windows, but revenue is not uniform across windows, indicating that the headline "profitability restored" framing is not the whole story even before any peer comparison is layered on. <prose> The historical comparison for this filing rests on the same-issuer year-over-year lens rather than a peer set, because the filing evidence carries no peer or industry data for this section; the absence of an external benchmark is itself part of the picture a reader should hold. On the three-month window, revenue rose against the prior-year quarter, while on the nine-month cumulative window revenue declined against the prior-year nine months, so the period-over-period read is genuinely asymmetric and not a single trend. Operating income and net income attributable to parent both shifted from a loss in the prior year to a profit this year on each of the two reported windows, and operating cash flow for the nine-month window was positive in both years but lower this year than last, a divergence the cited evidence does not attribute to any single cause.

A peer-style comparison is therefore limited to the company's own prior-year windows. For readers who want to extend the exercise across issuers, a cross-check on a comparable issuer that also showed revenue, operating income, net income and diluted EPS all higher year over year, such as Covista Inc. Reports Higher Revenue, Operating Income, Net Income, and Diluted EPS Across the Twelve-Month Period Versus the Prior-Year Comparative, With Each Line Remaining Profitable Year Over Year, would still leave this filing's nine-month revenue decline as a distinguishing feature rather than a shared industry pattern. The fair-value hierarchy disclosure in the cited notes, the Level 1 through Level 3 tiers, governs how the company values instruments but does not enter the year-over-year comparisons on these reported income lines, and the Note 1 and Note 13 notes on stockholders' equity and Note 2 on significant accounting policies sit alongside rather than inside the headline period-over-period movements.

Across the two reported windows, the historical read is therefore a profitability restoration on both windows, a top-line improvement on the quarter only, a top-line softening on the nine months, and a softer nine-month operating cash flow against a positive prior-year base, with no single driver identified in the cited evidence.

Scenario analysis

- Under a base-case reading of the filing for ALICO, INC. under 10-Q for period-ended-2026-06-30, the reported picture is one of a return to profitability on the bottom line paired with a softer top line over the longer window. Net Income (Loss) Attributable to Parent for the nine months ended June 30, 2026 is a profit of $10,025,000 USD, compared with a loss of -$138,841,000 USD for the nine months ended June 30, 2025, and the same loss-to-profit shift appears on the three-month view, where the three months ended June 30, 2026 shows a profit of $2,125,000 USD against a prior-year loss of -$18,289,000 USD.

Revenue from Contract with Customer, Excluding Assessed Tax moves in the opposite direction over the year-to-date, with the nine months ended June 30, 2026 at $16,267,000 USD lower than $43,264,000 USD for the nine months ended June 30, 2025, while the three-month comparison shows revenue higher at $9,040,000 USD versus $8,390,000 USD. The filing evidence does not attribute this change to any single cause. - The upside scenario treats the loss-to-profit transitions on both reported windows as the central favorable signal.

The nine-month swing from a loss to a profit on the parent line and the quarter swing in the same direction, alongside a higher quarterly revenue print, sketch a path in which operating execution, mix, or cost absorption continues to support the bottom line even as the full nine-month revenue base is softer than the prior year. Readers comparing companies with similar quarter-only revenue gains against a softer year-to-date revenue base may find the parallel useful in the prior Covista Inc. Reports Higher Revenue, Operating Income, Net Income, and Diluted EPS Across the Twelve-Month Period Versus the Prior-Year Comparative, With Each Line Remaining Profitable Year Over Year context, while remembering that The filing evidence contains no peer or industry comparison.

applies here. Within the upside frame, The filing evidence does not attribute this change to any single cause. still governs any driver claim, so the scenario rests entirely on direction rather than on an attributed cause.

- The downside scenario emphasizes the softer year-to-date revenue and the absence of disclosed segment-level detail. With the nine months ended June 30, 2026 revenue below the nine months ended June 30, 2025, a base of revenue that contracts while profitability depends on factors the filing does not break out carries execution risk into future quarters. Segment detail is not provided for these dimensions, so The filing evidence does not disclose segment-level detail for this dimension.

limits how confidently the reader can localize a soft spot. In this framing, the favorable quarterly revenue comparison at $9,040,000 USD versus $8,390,000 USD could give way if the softer year-to-date trend reasserts itself, and the loss-to-profit shift on the parent line could narrow if the underlying revenue base remains under pressure. As in the other branches, no cause is asserted for any of these moves, so The filing evidence does not attribute this change to any single cause.

stands as the only causal statement permitted by the filing evidence.

Risks and what to watch

- The quarter and nine-month year-to-date windows both show revenue higher than the prior-year comparatives on the quarter line while earnings crossed from a loss to a profit on both lines, which is the central favorable read of 10-Q period-ended-2026-06-30 for ALICO, INC. (ALCO). That same crossing, however, sets the bar for what can slip next period: any unwind in commodity pricing, citrus yield, or operating cost can quickly reverse the swing, so the next report's profit levels on both windows are the most important metric to track.

- Reported facts cited here for the period are the current-period and prior-year net income attributable to parent and revenue from contract with customer totals. Net Income (Loss) Attributable to Parent was $10,025,000 USD for the nine months ended June 30, 2026 and $2,125,000 USD for the three months ended June 30, 2026, compared with -$138,841,000 USD for the nine months ended June 30, 2025 and -$18,289,000 USD for the three months ended June 30, 2025 — both prior-year windows are losses in the cited evidence, while the current windows are profits, an authorized loss-to-profit transition.

Revenue from Contract with Customer, Excluding Assessed Tax was $16,267,000 USD for the nine months ended June 30, 2026 versus $43,264,000 USD for the nine months ended June 30, 2025 (lower year over year), and $9,040,000 USD for the three months ended June 30, 2026 versus $8,390,000 USD for the three months ended June 30, 2025 (higher year over year). The filing evidence does not attribute this change to any single cause. - Counter-evidence worth flagging: the nine-month revenue line is lower year over year even though the bottom line is higher, which is unusual and would normally invite a margin or mix explanation; the filing cited does not provide one, and no cause is authorized here.

The filing evidence does not attribute this change to any single cause. Reader caution: a wider gross spread that lifts earnings on a smaller revenue base can be cyclical — for grove and citrus operators, harvest volume and price realized per box are the swing factors, so a single bad crop window or pricing reset could compress the gain without warning. - Unknowns and information gaps the next period should address: segment-level revenue mix and per-box economics are not disclosed here, with The filing evidence does not disclose segment-level detail for this dimension.

applying to any segment read. There is also no peer or industry benchmark inside this filing, so The filing evidence contains no peer or industry comparison.. The cited Item 1A risk factors section was referenced but not quoted in the evidence provided, so any updated hurricane, disease, water, labor, or regulatory risk language for the next filing period should be read alongside this one.

The fair-value hierarchy described across Level 1, Level 2, and Level 3 supports the balance-sheet measurement framework, and Note 2 discusses noncontrolling-interest consolidation policy; readers should check the next-period note roll-forward for any change in unrealized positions, particularly in the lower fair-value tier, which can amplify mark-to-market swings. - Management explanations: the filing describes the lease renewal and purchase-option structure, treats accounts-receivable credit risk as minimal based on historical experience, and outlines government-grant recognition timing.

These are procedural descriptions, not forward guidance. - Analyst inference (read with care): because both the quarter and year-to-date earnings transitions are loss-to-profit while revenue directions diverge, the prior year's bottom-line weakness was the dominant comparator rather than an organic acceleration, so sustainability of the profit level into the successor window is the key question. - Metrics to watch next period: revenue from contract with customer on both the new quarter and new nine-month window, with attention to whether the year-to-date line re-accelerates above the prior-year comparative; net income attributable to parent on both windows, focusing on whether the loss-to-profit transition holds; any segment or per-unit disclosure that the next filing adds; and the fair-value roll-forward through the lower fair-value tier under the cited hierarchy.

A broad planning tool such as the ROI Calculator can frame per-period return checks against the next reading once new numbers land.