FORT MYERS, Fla., Jan. 05, 2024 (GLOBE NEWSWIRE) — Alico, Inc. (“Alico” or the “Company”) (NASDAQ: ALCO) announced today that John Kiernan, the Company’s Chief Executive Officer and President, will attend the 26th ICR Conference in Orlando, Florida from the 8th through 9th of January.
Alico Inc. has over 125 years of experience in agriculture, and currently manages 49,000 acres of citrus groves in 7 counties across 31 locations. Alico continues to be the top citrus grower in the U.S. and the primary supplier to Tropicana, a leading orange juice brand in the country. Alico is known within the citrus industry for our exceptional caretaking practices, which recently resulted in a new partnership with a large citrus grower. Alico will manage their 3,300 acres of citrus groves, with all expenses reimbursed and a management fee paid per acre for caretaking services.
Alico Inc. will present at the ICR Conference on 8 January at 3:30PM Eastern Standard Time in Palazzo D, with a breakout session immediately following at 4:00PM. An additional breakout session will be held on the morning of 8 January at 9:00AM.
Established in 1998, ICR partners with public and private companies to execute strategic communications and advisory programs and manage complex transactions and corporate events to enhance long-term enterprise value and corporate reputation. For the last two and a half decades, the ICR Conference has brought together more than 2,500 attendees, including the management teams of more than 250 premier public and private growth companies, institutional investors, sell-side research analysts, private equity professionals, sponsoring investment banks and select media each year, to network, discuss industry trends and share their strategies. The three-day event is also filled with insightful panels on important industry topics, dynamic speakers, brand activations, evening receptions and thousands of meetings with key stakeholders.
LEARN MORE ABOUT ALICO INC.
Alico, Inc. primarily operates two divisions: Alico Citrus, one of the nation’s largest citrus producers, and Land Management and Other Operations, which includes land leasing and related support operations. Learn more about Alico (Nasdaq: “ALCO”) at www.alicoinc.com.
CAUTIONARY STATEMENT ABOUT FORWARD LOOKING STATEMENTS
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include, but are not limited to, statements that express our expectations related to box production and citrus pricing, the potential value of our land holdings, our long term debt targets, our ESG initiatives, our intentions, beliefs, expectations, strategies, or any other statements relating to our future activities or other future events or conditions. These statements are based on our current expectations, estimates and projections about our business and assets based, in part, on assumptions made by our management and can be identified by terms such as “will,” “should,” “expects,” “plans,” ,”hopes,” “anticipates,” “could,” “intends,” “targets,” “projects,” “contemplates,” “believes,” “estimates,” “forecasts,” “predicts,” “potential” or “continue” or the negative of these terms or other similar expressions.
These forward-looking statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in the forward-looking statements due to numerous factors, including, but not limited to: adverse weather conditions, natural disasters and other natural conditions, including the effects of climate change and hurricanes and tropical storms, particularly because our citrus groves are geographically concentrated in Florida; damage and loss from disease including, but not limited to, citrus greening and citrus canker; any adverse event affecting our citrus business; our ability to effectively perform grove management services, or to effectively manage an expanded portfolio of groves; our dependency on our relationship with Tropicana and Tropicana’s relationship with certain third parties for a significant portion of our business; our ability to execute our strategic growth initiatives and whether they adequately address the challenges or opportunities we face; product contamination and product liability claims; water use regulations restricting our access to water; changes in immigration laws; harm to our reputation; tax risks associated a Section 1031 Exchange; risks associated with the undertaking of one or more significant corporate transactions; the seasonality of our citrus business; fluctuations in our earnings due to market supply and prices and demand for our products; climate change, or legal, regulatory, or market measures to address climate change; ESG issues, including those related to climate change and sustainability, biodiversity or diversity and inclusion; changes in investor or other stakeholder sentiment or demand; increases in labor, personnel and benefits costs; increases in commodity or raw product costs, such as fuel and chemical costs; transportation risks; any change or the classification or valuation methods employed by county property appraisers related to our real estate taxes; liability for the use of fertilizers, pesticides, herbicides and other potentially hazardous substances; compliance with applicable environmental laws; loss of key employees; material weaknesses and other control deficiencies relating to our internal control over financial reporting ; macroeconomic conditions, such as rising inflation, the deadly conflicts in Ukraine and Israel, and the COVID-19 pandemic; system security risks, data protection breaches, cyber-attacks and systems integration issues; our indebtedness and ability to generate sufficient cash flow to service our debt obligations; higher interest expenses as a result of variable rates of interest for our debt; our ability to continue to pay cash dividends; and the other factors described under the sections “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in. our Annual Report on Form 10-K for the fiscal year ended September 30, 2023 filed with the Securities and Exchange Commission (the “SEC”) on December 6, 2023, and in our Quarterly Reports on Form 10-Q, which are available on the SEC’s website at http://www.sec.gov. Past performance is not necessarily indicative of future results. Except as required by law, we do not undertake an obligation to publicly update or revise any forward-looking statement in this presentation, whether as a result of new information, future developments, or otherwise.
This presentation also contains financial projections that are necessarily based upon a variety of estimates and assumptions which may not be realized and are inherently subject, in addition to the risks identified in the forward-looking statement disclaimer, to business, economic, competitive, industry, regulatory, market and financial uncertainties, many of which are beyond the Company’s control. There can be no assurance that the assumptions made in preparing the financial projections will prove accurate. Accordingly, actual results may differ materially from the financial projections.
INVESTOR RELATIONS CONTACT
Any questions can be emailed to: [email protected]
A PDF accompanying this announcement is available at http://ml.globenewswire.com/Resource/Download/958bddb5-88a1-4e55-9f73-6d33b00a2ca2 and on our website at ir.alicoinc.com.
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