Alico, Inc. (ALCO) reported strong financial results for the second quarter of fiscal 2026, with earnings per share (EPS) of $1.49, significantly surpassing the forecasted $1.21 by 23%. The beat reflects the company's successful strategic shift from citrus operations to land monetization.
Despite a 71% year-over-year decline in revenue to $5.2 million, the company's stock rose 1.2% in after-hours trading to close at $41.17, signaling investor confidence in the new strategy.
Management emphasized the benefits of exiting the citrus business and focusing on land development. "Our shift to a diversified land utilization model has significantly improved our financial performance," said the CEO.
The company expects year-end cash of approximately $40 million and net debt of $45 million. Alico's land portfolio of 46,000 acres is valued between $650 million and $750 million.
