Quarterly report pursuant to Section 13 or 15(d)

Segment Information

v3.24.1.u1
Segment Information
 6 Months Ended
Mar. 31, 2024
Segment Reporting [Abstract]  
Segment Information Segment Information
Segments
Total revenues represent sales to unaffiliated customers, as reported in the Condensed Consolidated Statements of Operations. Goods and services produced by these segments are sold to wholesalers and processors in the United States, who prepare the products for consumption. The Company evaluates the segments’ performance based on direct margins (gross profit) from operations before general and administrative expenses, interest expense, other income (expense) and income taxes, not including nonrecurring gains and losses.
Information by operating segment is as follows:
(in thousands) Three Months Ended
March 31,		 Six Months Ended
March 31,
2024 2023 2024 2023
Revenues:
Alico Citrus $ 17,762  $ 20,937  $ 31,354  $ 31,205 
Land Management and Other Operations 351  357  744  677 
Total revenues 18,113  21,294  32,098  31,882 
Operating expenses:
Alico Citrus 36,142  27,520  64,249  41,815 
Land Management and Other Operations 129  102  262  196 
Total operating expenses 36,271  27,622  64,511  42,011 
Gross profit:
Alico Citrus (18,380) (6,583) (32,895) (10,610)
Land Management and Other Operations 222  255  482  481 
Total gross profit $ (18,158) $ (6,328) $ (32,413) $ (10,129)
Depreciation, depletion and amortization:
Alico Citrus $ 3,724  $ 3,777  $ 7,451  $ 7,604 
Land Management and Other Operations 17  9  37  18 
Other Depreciation, Depletion and Amortization 57  111  114  225 
Total depreciation, depletion and amortization $ 3,798  $ 3,897  $ 7,602  $ 7,847 
(in thousands) March 31,
2024		 September 30,
2023
Assets:
Alico Citrus $ 402,546  $ 415,030 
Land Management and Other Operations 12,811  11,722 
Other Corporate Assets 1,416  1,601 
Total Assets $ 416,773  $ 428,353 
The reconciliations of segment gross profit (loss) to consolidated income (loss) before income taxes are as follows:
Three Months Ended
March 31,		 Six Months Ended
March 31,
2024 2023 2024 2023
Alico Citrus $ (18,380) $ (6,583) $ (32,895) $ (10,610)
Land Management and Other Operations 222  255  482  481 
Segment gross loss (18,158) (6,328) (32,413) (10,129)
General and administrative expenses 2,321  2,667  5,593  5,176 
Loss from operations (20,479) (8,995) (38,006) (15,305)
Other income (expense), net:
Interest income 155  —  250  — 
Interest expense (663) (1,274) (2,268) (2,422)
Gain on property and equipment 4  1,574  77,029  4,763 
Other income, net —  30  —  30 
Total other income (expense), net (504) 330  75,011  2,371 
(Loss) income before income taxes $ (20,983) $ (8,665) $ 37,005  $ (12,934)