Alico, Inc. (NASDAQ:ALCO) Q3 2023 Earnings Conference Call August 3, 2023 8:30 AM ET
Company Participants
John Kiernan - President and Chief Executive Officer
Perry Del Vecchio - Chief Financial Officer
Conference Call Participants
Gerard Sweeney - ROTH Capital Partners, LLC
Operator
Welcome to Alico's Third Quarter 2023 Earnings Conference Call. At this time all participants are in a listen-only mode. As a reminder, today's conference is being recorded.
Earlier today, the company issued a press release announcing its results for the third quarter ended June 30, 2023. If you've not had a chance to view the release, it is available on the Investor Relations portion of the company's website at alicoinc.com. This call is being webcast, and a replay will be available on Alico's website as well.
Before we begin, we would like to remind everyone that the prepared remarks today contain forward-looking statements. Such statements are subject to risks, uncertainties and other factors that may cause actual results to differ materially from those expressed or implied in these statements.
Important factors that could also contribute to such differences, including risk details in the company's quarterly reports on Form 10-Q, annual reports on Form 10-K, current reports on Form 8-K and any amendments thereto filed with the SEC and those mentioned in the earnings release. The company undertakes no obligation to subsequently update or revise the forward-looking statements made on today's call except as required by law.
During this call, the company will also discuss non-GAAP financial measures, including EBITDA and adjusted EBITDA. For more details on these measures and for reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures, please refer to the company's press release issued earlier today.
With that, I'd like to turn the call over to the company's President and CEO, Mr. John Kiernan.
John Kiernan
Thank you, Mark. And thank you, everyone, for joining us for Alico's third quarter 2023 earnings call this morning. The 2022, 2023 citrus harvest season has been a difficult one for Alico, because of the impacts from Hurricane Ian last September, but we are looking forward to the upcoming season with guarded optimism.
Historically, it has taken two or more seasons for citrus production to recover from such a devastating storm, but our consistent grove caretaking practices, combined with the new citrus greening therapy we began to apply this year, gives us confidence that Alico’s production will substantially increase for the 2023, 2024 citrus harvest season, as compared to the 2022, 2023 harvest season. Of the millions of trees, we have planted beginning in 2017, many are now mature enough to produce meaningful quantities of fruit this season and help support a level of expectation for a better upcoming harvest for Alico.