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Alico Inc (ALCO.OQ)

ALCO.OQ on NASDAQ Stock Exchange Global Select Market

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Latest Key Developments (Source: Significant Developments)

Alico Says John E. Kiernan Appointed As CEO
Thursday, 11 Apr 2019 

April 11 (Reuters) - Alico Inc ::ALICO ANNOUNCES LEADERSHIP CHANGES.SAYS JOHN E. KIERNAN APPOINTED CEO.RICHARD RALLO WILL SUCCEED KIERNAN AS CHIEF FINANCIAL OFFICER.BENJAMIN FISHMAN WILL SUCCEED HANK SLACK AS CHAIRMAN OF BOARD.SLACK WILL REMAIN ON BOARD.  Full Article

Alico Says Entered Into Settlement Agreement With Remy Trafelet And Certain Of His Affiliates, Along With Certain Members Of Co's Board
Monday, 11 Feb 2019 

Feb 11 (Reuters) - Alico Inc ::ALICO - ENTERED INTO SETTLEMENT AGREEMENT WITH REMY W. TRAFELET AND CERTAIN OF HIS AFFILIATES, ALONG WITH CERTAIN MEMBERS OF ALICO BOARD.ALICO - TRAFELET SETTLEMENT AGREEMENT TO DISMISS PENDING LITIGATION IN U.S. CIRCUIT COURT CAPTIONED 734 AGRICULTURE, LLC V. BROKAW, CASE NO. 18-CA-011294.ALICO - IN ACCORDANCE WITH SETTLEMENT AGREEMENT, TRAFELET RESIGNED FROM HIS ROLES AS PRESIDENT AND CEO AND A DIRECTOR OF CO.ALICO INC - BENJAMIN D. FISHMAN WILL CONTINUE SERVING AS INTERIM PRESIDENT OF ALICO.  Full Article

Alico Inc announces financial results for fiscal year 2018
Thursday, 6 Dec 2018 

Dec 6 (Reuters) - Alico Inc ::ALICO, INC. ANNOUNCES FINANCIAL RESULTS FOR FISCAL YEAR 2018 ALONG WITH UPDATE ON ALICO 2.0 MODERNIZATION PROGRAM.ALICO INC - QTRLY EARNINGS PER SHARE $0.09.ALICO INC - QTRLY ADJUSTED LOSS PER SHARE $0.31.  Full Article

Alico - With Unanimous Approval Of Board Notified Trafelet, Co's CEO
Tuesday, 20 Nov 2018 

Nov 20 (Reuters) - Alico Inc ::ALICO -CO WITH UNANIMOUS APPROVAL OF BOARD NOTIFIED TRAFELET, CO'S PRESIDENT,CEO & MEMBER OF BOARD, IT INTENDS TO CONSIDER TERMINATING HIS EMPLOYMENT.ALICO INC - BENJAMIN D. FISHMAN, CURRENT MEMBER OF BOARD, WAS APPOINTED TO SERVE AS INTERIM PRESIDENT, EFFECTIVE AS OF NOV 19, 2018 - SEC FILING.ALICO INC - HENRY R. SLACK, CO'S EXECUTIVE CHAIRMAN, & FISHMAN WILL MANAGE CO DURING PENDENCY OF TRAFELET'S TERMINATION PROCEEDINGS.ALICO-AS REQUIRED BY COMPENSATION DOCUMENTS, WILL SCHEDULE SPECIAL MEETING OF BOARD AT WHICH MEETING TRAFELET & COUNSEL MAY ADDRESS BOARD ON TERMINATION.ALICO INC - "TRAFELET HAS BEEN PLACED ON ADMINISTRATIVE LEAVE PENDING OUTCOME OF TERMINATION PROCEEDINGS".  Full Article

Alico Q3 Earnings Per Share $1.48
Monday, 6 Aug 2018 

Aug 6 (Reuters) - Alico Inc ::ALICO, INC. ANNOUNCES FINANCIAL RESULTS FOR THE THIRD QUARTER AND NINE MONTHS ENDED JUNE 30, 2018.Q3 EARNINGS PER SHARE $1.48.QTRLY TOTAL OPERATING REVENUES $26.5 MILLION VERSUS $51.5 MILLION.  Full Article

Alico Reports Qtrly Loss Per Share $0.67
Monday, 7 May 2018 

May 7 (Reuters) - Alico Inc ::ALICO, INC. ANNOUNCES FINANCIAL RESULTS FOR THE SECOND QUARTER AND SIX MONTHS ENDED MARCH 31, 2018.ALICO INC - QTRLY LOSS PER SHARE $0.67.ALICO INC - QTRLY TOTAL OPERATING REVENUES $35.6 MILLION VERSUS $56.2 MILLION.ALICO INC - QTRLY ADJUSTED EARNINGS PER SHARE $0.25.  Full Article

Alico reports qtrly adj shr loss $0.86
Monday, 11 Dec 2017 

Dec 11 (Reuters) - Alico Inc ::ALICO, INC. ANNOUNCES FINANCIAL RESULTS FOR FISCAL YEAR 2017.ALICO INC - QTRLY LOSS PER DILUTED COMMON SHARE $2.29.ALICO INC - RESULTS WERE NEGATIVELY IMPACTED BY ABOUT $24.0 MILLION OF ONE-TIME ITEMS WHICH INCLUDED HURRICANE IRMA'S IMPACT ON 2017-2018 SEASON.ALICO INC - QTRLY ADJUSTED LOSS PER DILUTED COMMON SHARE $0.86.ALICO INC - IN Q1 OF FISCAL 2018 ALICO WILL CEASE ITS DIRECT CATTLE OPERATIONS AT ALICO RANCH.  Full Article

Alico announces restructuring program
Thursday, 16 Nov 2017 

Nov 16 (Reuters) - Alico Inc ::Announces restructuring program which has been transforming it into a more competitive company.Alico has eliminated costs "that it believes will not negatively affect citrus production"​.Alico Citrus estimates that production will be down 40-45 percent from prior season that was completed in June of 2017​.When Alico 2.0 is fully implemented over next 2 yrs, Alico Citrus expects to generate net income of $17.9 million, earnings per share of $2.00-$2.40.Alico Citrus lost a small percentage of trees, force and duration of storm impacted majority of groves​.Alico Citrus expect it will take at least two seasons for groves to recover to pre-hurricane production levels​.Alico Citrus sees production of 4-4.4mm boxes in 2018, production increase in 2019, return to pre-hurricane production levels by FY2020​.Believes restructuring efforts and cost efficiencies that were began in early 2017 will mitigate financial impact to Alico of Hurricane Irma​.Believes that Alico 2.0 restructuring, cost efficiencies that began in early 2017 will mitigate financial impact to Alico of Hurricane Irma​.Company expects to be EBITDA breakeven in FY2018​.A comprehensive review of Alico's assets identified approximately $175mm of properties that generate no or low returns​.Alico Citrus is reducing total expenses per acre from $3,314/acre in FY16 to $2,164/acre when Alico 2.0 is fully implemented​.  Full Article