NEW YORK, May 25, 2026, 18:03 (EDT)
- Alico finished up 1.13% at $41.31 on May 22, before U.S. markets closed for Memorial Day.
- The stock gained roughly 2.8% for the week ending May 22 after focus shifted to land deals, buyback moves and key permit steps.
- Alico doesn’t list any investor events on its calendar now, so attention stays on state and federal signoffs for Corkscrew Grove.
Alico, Inc. won’t trade on Monday, with U.S. exchanges shut for Memorial Day. Investors get Friday’s close at $41.31, and a new short week to weigh how much of the Florida land shift is baked in. Nasdaq shows Memorial Day, May 25, as a holiday. Regular hours are 9:30 a.m. to 4 p.m. Eastern.
Alico isn’t trading like a typical citrus grower anymore. The Fort Myers company has been cutting back on its citrus business and looking to make money from leasing, selling land, and betting on future development. Shares increased from $40.17 on May 15 to $41.31 on May 22, up about 2.8%, historical data show.
Alico shares traded lower volume on Friday, with 18,810 shares moving hands, according to Google Finance. That’s less than the usual 20,970 average. The market cap stood near $306 million. Thin action can swing prices up or down faster.
Alico’s most recent news is still its May 11 second-quarter earnings release. The company reported a $26.9 million land sale for the quarter, with year-to-date land sales reaching $34.6 million. It also bought back 245,399 shares for $10.0 million through April. CEO John Kiernan said the quarter “showed continued execution” and said the land sales and buybacks were a “balanced approach to capital allocation.” Alico, Inc.
Turnaround numbers were in play. Revenue dropped 70.3% to $5.34 million in the March quarter as citrus sales dried up, but net income for common shareholders hit $11.4 million, or $1.49 a share, after a $111.4 million loss a year ago. The company said in a filing the swing came as citrus wound down alongside a January land sale.
Alico reported $52.9 million in cash and cash equivalents as of March 31, up from $38.1 million on Sept. 30. Term loans and credit lines were about $85.8 million. In its filing, the company said it unveiled a “Strategic Transformation” in January 2025 to start winding down Alico Citrus and move toward diversified land use and real estate development. Alico, Inc.
CFO Brad Heine kept to the outlook for 2026 adjusted EBITDA around $14 million on the earnings call. “The fundamentals are working as intended,” Heine said. Adjusted EBITDA cuts out interest, taxes, depreciation, amortization and some other charges—investors track it to get a cash-earnings read, but it’s different from net income. Investing
Corkscrew Grove East Village in Collier County is the main project. Alico said local officials signed off on a 1,446.59-acre Stewardship Receiving Area on April 28, paving the way for a plan with up to 4,502 homes and 238,606 gross square feet of neighborhood retail and office space. Entitlements—or land-use permits—still need approval from state and federal authorities.
Kiernan said the local vote “validates our thoughtful approach” and said Alico is still working on state and federal permits. The company says the project comes with conservation commitments, counting more than 6,000 acres tied to the Corkscrew Grove Villages project. Alico, Inc.
ROTH Capital’s Gerard Sweeney asked on the May 12 call if Alico plans to sell the entitled land, work with homebuilders, or handle Corkscrew Grove development on its own. CEO Kiernan said there’s still flexibility, but noted Alico “really” isn’t a construction expert and would probably have to decide on a strategy down the line. Investing
Limoneira, a small-cap citrus name, finished at $12.79 on May 22, off 0.16%. Fresh Del Monte Produce ended the session at $33.29, gaining around 0.9%. Alico outperformed both this week, with a steeper move driven less by fruit prices and more by land deals and approvals.
Alico’s plan could lag the market’s timeline. The company’s filing notes that future financing depends on both capital-market conditions and the economy. Corkscrew still needs permits from state and federal agencies. If Florida land sales slow, or housing demand slips, investors may have to settle for lease income instead of waiting for bigger development payoffs.
No Alico investor events are on the books this week, so Tuesday’s reopen is the first test to see if last week’s move sticks. Traders are scanning for any new filings, permits, or news on land sales, even though a slow holiday week usually means less action.
