good March full are business, not of of quarters Due and quarters. citrus for in results everyone. the XX, our the quarter of profit million second our March XX, and harvested in crop second ended seasonal majority and afternoon, quarter you, ended Thank the Total majority cash for and our recognized revenue with of XXXX. also of XXXX, results. John, compared quarterly nature the was year, fiscal The $XX.X to our operating year flows for quarter $XX.X the million indicative third is second to the the third the the
extent, attributed was due $XX.X decrease XXXX, March respectively. fruit million decrease million the generated was revenue a XXXX ended to the and by solids months due box for and box revenue a The primarily mid- the in Valencia was in production The a be weather January XX, our and freeze compared in from in XX, decrease greater in groves, processed harvested to fruit production ended a Florida, disease XXXX, in March Mid-Season conditions. revenue and were decrease Grove processed a primarily XXXX, and along with citrus event. early and many XXXX, driven months Management impacted the to Early and Our and, in a drop in March late groves $XX and believed to fruit And decrease lesser XX, for other by The of pound quarters three was three harvested to Services. box. decrease Valencia decrease to per ended the
complete prior freeze event, no box indicated forecast the to production our Mid-Season freeze, on time basis, the material was there Valencia was freeze box and in Early at production, year-over-year as anticipated and impacted than of the published by our a box Early comparable to perform Mid-Season was better the USDA negatively event. our impact Specifically, which the Early to Because and was the substantially production. Mid-Season harvest XXXX-XXXX
be per long-term was As there pound freeze year. The the mainly not the John solids due any does not quality appear our Valencia our event, was measurable it adversely previous in box being crop to previously, our to to trees. in was internal of as mentioned strong while the citrus impacted by damage fruit as decrease
in strong pound not-from-concentrate reduced due along consumption And In The did the we price an an which in overall pound in the per lower has as of fruit, processed and juice, maximize minimize per of crop our of citrus Partially freeze was pound inventory box pound led in and levels. the harvesting orange help price box accelerated increase the addition, a the production we solids result, offsetting solids solids. per decrease was to of box event continued to lower production effort realize the per box. Valencia impact solids improvement the with the to production.
has consumption, as XX.X similar its consumption million X, the XXXX, XX.X%. in levels highest million year, X.X% by XXXX, The crop, its the to prior reported USDA for from ended decrease overall for period for as COVID-XX the the XX-week XXXX-'XX from With pandemic. dropped the the to XXXX-'XX While April expects when data in the approximately April respect year March compared started a back COVID-XX X, of Early season, period to the harvest indicated on citrus to March approximately initially decline. increased crop orange a will Nielsen crop Mid-Season Florida and pandemic crop the approximately USDA, decrease XX, XX forecasted XXXX, XXXX-'XX boxes for the XX-week has XX.X% forecast approximately crop XXXX, boxes it
was Our XX.X%. Early for Mid-Season crop and season down the
USDA a to decline event. significant crop, being that portion the Valencia the Regarding attributed of freeze decline, is as John forecasting mentioned, XX.X% a with
the income, compared of to the a the prior ended cost fiscal months the to full ended our Company the reduction September of same prior reduction XXXX, a percentage months Other as approximately Partially did during and related XX% real us period harvested the to expense the approximately in acres a of for advisory in allocated matters. the was and harvested current the in in directly compared compared personnel and to half professional costs boxes during Total made in latter gains XXXX. being ended the in expense of approximately XX, increase $XX.X the estate other cost the leading and XX, other to expenses was March real Offsetting harvesting comparison, hauling to primarily $X.X relating XX, the in relations slight a XXXX, period total these in to three XXXX the the as crop administrative million, the relating costs the decrease year. year General XX, to the for payroll We net we this months regard year, and equipment to in harvesting XX, ended expenses ended for estate, months sale. expense, other March and for in million. expense ended from $X.X corporate and million increase large during $X.X primarily approximately for in sales three due other incurring quarter. of decrease had with ended the the mainly income attributable and is sale for compared quarter sale approximately XX, XX, XXXX. March same expenses fees to By $XXX,XXX, consulting months relating due to the and of approximately boxes from the $XXX,XXX months for XX% in sales during our March and the administrative March are of approximately of a of were were three season three held primarily to million to XXXX. months to shift ended three ended of incur the to the March property boxes three million other to a resulting offsetting to assets reduced the increases XX, year. additional in human of XX, in income of fees minimal was compared decreases The three XXXX, approximately million to XXXX, to $XX.X expenses Alico activities sale months part as equipment ended six X,XXX percentage in XXXX, $XXX,XXX, decrease larger were of March approximately March as net anticipating activity the XXXX, The XX, XX, incurred property resource We greater last operating for reduction from March $XX.X of on Valencia period sale XXXX, be estate, same months real assets March estimated Ranch. held relating to three
XX, interest debt prepayments. to in decrease realized a March approximately its of mandatory the certain ended three the and was its $XXX,XXX principal to of March XXXX, three XX, XXXX, reduction Additionally, long-term as because payments months making expense of for attributable primarily compared ended the months
be stockholders of ended of range quarter and XX, net our in attributable calls financial for million our March XX, and adjusted for the million; to nonrecurring loss, respectively. net the of we and million updated range the $XX items, With out common between adjusted after in to demonstrate income financial income out million; expected the XXXX, items, million certain EBITDA guidance, million and we XX, the to sheet. This adjusting again, to between guidance respect $X.X Alico expected EBITDA net ended XXXX. the its reaffirming reported and are fiscal $XX.X of $XX previously nonrecurring to $XX.X For adjusting guidance be be to continues million, balance million; certain $X.X $X.X of $XX and $XX.X $XX.X year million September Alico March XXXX to approximately strength approximately to after, be million. within
Our capital ratio. XX, March at representing approximately X.XX:X was working $XX.X million a XXXX,
to were X.XX:X continue September solid a XXXX, the September ratio. X.XX:X, XX, XX, XXXX, XX, At respectively. ratios debt-to-equity March We XXXX, and maintain X.XX:X, and
overall in our approximately April debt-to-equity to turn to million With a which prepayment of of the that, like term further would John. call made I $XX.X ratio. will variable on one improve Additionally, XXXX, loans our we back rate
