The FUNDS behind it Corkscrew Grove Villages-
Land Sale -- Closed a $26.9 million transaction in January for approximately 2,950 acres, generating a $19.8 million gain and bringing year-to-date land sales to $34.6 million.
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Share Repurchase -- Deployed $10 million to repurchase 245,399 shares through April 2026.
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Land Entitlement -- Received unanimous approval from the Collier County Board of Commissioners for Corkscrew Grove East Village, covering 1,446 acres with entitlements for up to 4,502 dwelling units and 238,000 square feet of retail and office space.
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Conservation Commitment -- Nearly 5,000 acres to be placed into permanent conservation as part of Corkscrew Grove East Village.
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Land Utilization -- Approximately 97% of farmable acres now generate revenue through agricultural partnerships, reducing operational complexity.
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Development Pipeline Valuation -- Management estimates present value of Parks Corkscrew Grove Villages, Bonnett Lake, Saddlebag Grove, and Plant World at $335 million–$380 million, expected to be realized over the next 5 years from roughly 5,500 acres.
SUMMARY
Alico, Inc. (ALCO 0.41%) delivered a marked recovery in profitability as it completed its citrus business exit and advanced core value realization through land monetization and entitlements. The company’s successful $26.9 million land sale and substantial share repurchases reflect a disciplined focus on capital allocation and returning value to shareholders. Unanimous local approval for Corkscrew Grove East Village signals a significant regulatory milestone, unlocking new development opportunities and positioning Alico for future cash flows. Revenue from diversified land partnerships now dominates the business model, enhancing operational flexibility and reducing reliance on single commodities.
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Kiernan stated, "The approved East Village encompasses 1,446 acres and authorizes up to 4,502 dwelling units, including 362 affordable housing units for essential workers."
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Heine noted, Land management and other operations revenue increased 113% in the quarter, driven by farm lease and Sod revenue as we shift our focus to diversified land usage.
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Kiernan confirmed roughly 46,000 acres remain in the portfolio with management estimating total asset value between $650 million and $750 million, based on conservative per-acre assumptions.
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Alico’s development pipeline (Parks Corkscrew Grove Villages, Bonnett Lake, Saddlebag Grove, and Plant World) retains an estimated value of $335 million–$380 million, targeted for realization within 5 years.