Alico, Inc. (NASDAQ:ALCO) Q1 2023 Earnings Call Transcript

Page 2 of 2

John Kiernan: Sure. I’ll take that. Buyer interest remains high. We’re seeing primarily cash buyers that don’t seem like they’re financing-dependent, which is good news. I think they’re being as selective as they have been in past years. It is a competitive negotiation process for each transaction that we have, and we are seeing smaller parcels being negotiated as opposed to 3,000, 4,000, 5,000 acre deals. We’re seeing things in the 100s and the low 1,000 acre parcels right now, but the actual price per acre is continuing to hold in the high 4s, low 5s per acre, which is what we’d consider very encouraging for hopefully future realized value for us.

Gerry Sweeney: Got it, great. That’s it for me. I appreciate it. Thanks for the update.

John Kiernan: Thanks Gerry.

Operator: Thank you. At this time, I would like to turn the call back over to Mr. Kiernan for closing remarks.

John Kiernan: I just want to say thank you to everyone for joining our call today as well as for your continued support of Alico. We look forward to speaking with you all about our second quarter results coming up in May. Hope everyone has a great day.

Operator: Thank you. This concludes today’s conference. You may disconnect your lines at this time. Thank you for your participation and have a great day.

Follow Alico Inc. (NASDAQ:ALCO)

Page 2 of 2