Alico, Inc. (NASDAQ:ALCO) Q4 2023 Earnings Conference Call December 7, 2023 8:30 AM ET
Company Participants
John Kiernan - President and Chief Executive Officer
Brad Heine - Chief Financial Officer
Conference Call Participants
Gerry Sweeney - ROTH MKM
Operator
Good morning. Welcome to Alico's Fourth 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.
Last night, the company issued a press release announcing its results for the fourth quarter and full year ended September 30, 2023. If you had not -- have 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, I 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 cause or contribute to such differences include 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 amended statements 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, please refer to the company's press release issued earlier today.
With that, I will turn the call over to the company's President and CEO, Mr. John Kiernan. Please go ahead, sir.
John Kiernan
Thank you, Melissa, and thank you, everyone, for joining us for Alico's fourth quarter 2023 earnings call this morning.
During 2023, Alico was recovering from the aftermath of Hurricane Ian that occurred in September of 2022, which damaged half of our crops intended for the 2023 harvest season, and our financial results were disappointing as expected.
The overall decrease in box production for Alico was 51.5% for the 2022-2023 harvest season versus the prior year. USDA reported a 61.7% decrease in box production for the overall Florida orange crop as compared to the same period in the prior year.