Fort Myers-based Alico Inc. reported a net loss of $18.3 million and $8.39 million in revenue for its third quarter during an earnings call, marking the end of its large-scale citrus operations as it transitions into a diversified land company. The quarter included $9.3 million from land and equipment sales and $16 million in crop insurance proceeds, boosting cash reserves to $42.1 million. A key project, Corkscrew Grove Villages, spans the Collier-Lee-Hendry county line and will feature up to 9,000 homes, commercial space and 6,000 acres of permanent conservation. Legislative approval of the Corkscrew Grove Stewardship District will help finance infrastructure and environmental restoration, company officials said. Alico has exceeded its $20 million land sales goal for fiscal 2025 and expects strong liquidity through 2027.
Alico completes final citrus harvest, shifts focus to land development
A rendering depicts a residential streetscape planned for Corkscrew Grove East Village in eastern Collier County. The development could include up to 4,502 homes, along with sidewalks and community infrastructure.
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