Quarterly report pursuant to Section 13 or 15(d)

Segment Information

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Segment Information
 9 Months Ended
Jun. 30, 2024
Segment Reporting [Abstract]  
Segment Information
Note 9. 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
June 30,		 Nine Months Ended
June 30,
2024 2023 2024 2023
Revenues:
Alico Citrus $ 13,237  $ 6,712  $ 44,591  $ 37,917 
Land Management and Other Operations 373  572  1,117  1,249 
Total revenues 13,610  7,284  45,708  39,166 
Operating expenses:
Alico Citrus 17,813  (8,322) 82,062  33,493 
Land Management and Other Operations 84  104  346  300 
Total operating expenses 17,897  (8,218) 82,408  33,793 
Gross profit:
Alico Citrus (4,576) 15,034  (37,471) 4,424 
Land Management and Other Operations 289  468  771  949 
Total gross (loss) profit $ (4,287) $ 15,502  $ (36,700) $ 5,373 
Depreciation, depletion and amortization:
Alico Citrus $ 3,660  $ 3,714  $ 11,111  $ 11,318 
Land Management and Other Operations 9  23  46  41 
Other Depreciation, Depletion and Amortization 46  101  160  326 
Total depreciation, depletion and amortization $ 3,715  $ 3,838  $ 11,317  $ 11,685 
(in thousands) June 30,
2024		 September 30,
2023
Assets:
Alico Citrus $ 399,984  $ 415,030 
Land Management and Other Operations 13,245  11,722 
Other Corporate Assets 1,373  1,601 
Total Assets $ 414,602  $ 428,353 
The reconciliations of segment gross profit (loss) to consolidated income (loss) before income taxes are as follows:
Three Months Ended June 30, Nine Months Ended June 30,
2024 2023 2024 2023
Alico Citrus $ (4,576) $ 15,034  $ (37,471) $ 4,424 
Land Management and Other Operations 289  468  771  949 
Segment gross (loss) profit (4,287) 15,502  (36,700) 5,373 
General and administrative expenses 2,441  2,930  8,034  8,106 
(Loss) income from operations (6,728) 12,572  (44,734) (2,733)
Other income (expense), net:
Interest income 95  —  345  — 
Interest expense (628) (1,196) (2,896) (3,618)
Gain on property and equipment 4,491  2,605  81,520  7,368 
Other income, net —  14  —  44 
Total other expense, net 3,958  1,423  78,969  3,794 
(Loss) income before income taxes $ (2,770) $ 13,995  $ 34,235  $ 1,061