Alico, Inc. (NASDAQ:ALCO) Q3 2024 Results Conference Call August 6, 2024 8:30 AM ET
Company Participants
John Kiernan - President & Chief Executive Officer
Brad Heine - Chief Financial Officer
Operator
Welcome to Alico's Third Quarter 2024 Conference Call. [Operator Instructions] As a reminder today's conference is being recorded.
Last night, the company issued a press release announcing its results for the third quarter ended June 30, 2024. If you have not had a chance to review the release, it is available on the Investor Relations of the company's website at www.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 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 difference, such differences include risk details in company's quarterly report on Form 10-Q, annual results on Form 10-K, current reports on Form 8-K and those 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 the call, the company may also discuss non-GAAP financial measures, including EBITDA, adjusted EBITDA and net debt. For more details on the measures, please refer to the company's press release issued yesterday.
With that, I would like to turn the call over to the company's President and CEO, Mr. John Kiernan.
John Kiernan
Thank you, Britney, and thank you, everyone, for joining us for Alico's Third Quarter 2024 earnings call this morning. I wanted to thank our investors who checked in with us over the weekend as Hurricane Debby approached the Florida coast line. Alico and my fellow employees had a wet weekend, and we expect rain to continue each day for the rest of the week, but we did not sustain any damage from Debby. Our thoughts are with all of our fellow Floridians who were impacted by the storm yesterday and everyone else who's facing tropical storm today. Alico has been through dozens of storms over the past century, and we take everyone seriously. Thank you again for your concern.
During the past quarter, Alico finished harvesting the last fruit in our 2023-'24 season. Fruit quality was poor at the beginning of both our early mid and Valencia crop harvest but improved. However, the rate of fruit drop accelerated during post harvests.