thank in joining Florida XXXX to you, did from my of everyone, had checked who earnings Thank over week, and we approached Hurricane wet weekend, this Debby for Quarter thank morning. call the any you, sustain to fellow and I expect wanted the day weekend the with Alico's and coast rain investors line. Third a we as rest Britney, for us our continue but employees Debby. each the damage not Alico us for
dozens for has through yesterday Thank you the Our seriously. else thoughts been are and your with storms who's today. all we concern. Floridians past who and century, everyone storm Alico everyone tropical of impacted by over our again were take fellow facing the storm of
of our crop XXXX-'XX season. harvesting the at early finished mid improved. fruit Fruit the harvest past but our poor Valencia quarter, in the Alico During and quality was both beginning last
post of rate accelerated However, the drop harvests. during fruit
to aggressively We past Early that season and Lower levels was led of early was a pound second the but the over the year Ian. sold, XXXX. production the of mid-season in control of out our solids harvest lower the being the base for mid-season We've for in continued affected and believe by which this and year, row. has Valencia box total in $XX.X year of million a inventory fiscal impact cost our levels Valencia lower Hurricane resulted managed of write-down and production revenue
have optimistic our to reasons We several about next be production more season.
planted are First, now them Alico since nearly XXXX, of has trees million producing X.X fruit. all and
of with treating we In as in XXXX injection therapy. treated began Alico OTC. with oxytetracycline greening to a its million Second, an were in citrus XXXX, trees product XXXX, X.X And trees via our citrus producing trees. over XX% we able January treat trunk producing approximately
$X.X Research in Alico and the money XXXX-'XX from Field harvest received was Florida applications Citrus that XXXX-'XX $X.X in substantially harvest all cover the OTC XX% June of season grant season January OTC of Foundation that will the and the XXXX of costs applications. million Trial received approximately covered million of
being that factor harvested small the another Although production most quality. along that year cautiously remain in second significant impacting were that past believe show Ian with crop previously We Hurricane fruit not will a the in or from also was treated injections XXXX round the fruit was combination a not first hurricane continued reduced for not we drop. the recovery round of trees of impressive, more of trees treated significant but optimistic removed the season from yield, just in and injections improvements, this
than in change Services X will to the calendar July, be the Department that be years that OTC was in a Florida applied we and Florida in trees restriction OTC the the to industry us product back started will product change year Agriculture for XXXX the enable in to label which fact, for This Alico treating approved the row. that apply citrus of to reported XXXX, in treatment it a overall. a relief cannot In remove the Consumer more
recovers Third, sell at next will as Alico's season, our we production fruit higher prices.
another As to Tropicana with announced, X Alico With supply years. for we XXXX-'XX current better extended the the higher reflect increases pricing have will with per Tropicana our market previously solid, our new second contract relationship Tropicana, fruit, Company prices realize in of and significantly are which which acres contract price season, pound and The which the has higher approximately pricing also end covers third than XX% a expires expiring production of acres. contracts. years. at This of with by our new contract covered our the remainder of but
over world-class citrus more more hurricane is it on the Alico has as just prepared As active becomes than and Atlantic years. focused XXX operations the months, few next its season managing for
greatest is advantages sheet our weather we One liquidity. competitive face uncertainties potential balance our as of
capital November Hurricane Our in line vendors under and remain we credit, to our from provide trees relationships approximately capacity combination strong, a liquidity recover revolving of our ample million and line with which credit, matures of of of working undrawn to $XX.X Ian. have matures as a in November XXXX of a XXXX of continue which
does $XX until not amortize term debt is million not and XXXX. Our of repayment due for
we have and access to workers We -- stable. is have contractors employee base steady to and access our
estate the real regular highest conduct of will Alico our use operations, as To of nearly to Alico our our our come. for all clear, invest evaluates at and Outside citrus operations continues assets. years resources to of be to groves long-term citrus continue it best
the active to extract our comes creative provide to We value. will that of benefits seek We explore management. with all enhance optionality with our and to stability conventional solutions a land of with properties the investment and investors continue evaluating agricultural
another made direct from difficult our Grove in we from after Hurricane TRB XXXX, took hit the proprietary Charlotte year, decision it a to in operations County transition a to there Ian evaluating also citrus Last crop its mining, third-party citrus decided grove of beyond leasing year, and evaluated activities. realize and mix use. vegetable have we to best and move to fruit highest This
a land be exercised acres a acres of conduct of payments. of expected price of understood E.R. obtained, It regulatory with option $XX,XXX will by a mining approximately on XXXX. on grove Alico been acres, to including the located XXXX, -- lease Jahna sand this land right net XxX County, these which our agreement XXXX. agreement approval January expires end Industries, operations per Hendry of has have minimis XXX sale December is that lease in purchase the third-party once most option and It plans In Jahna citrus at the Alico of acre in for is that into approximately back to de XXX for the entered
Grove announced acres same those harvest previously price acre, Alico strategy continue from $X.X $X,XXX million, capital at an the party third of option a within season. monetizing on which of purchase redeploy to basis and the per of shareholders. a that approximately which acres citrus April returns per XXXX, our the another our includes and This better date to to another into XXX land to case-by-case sale groves XXX for of for acre, closing approximately agreement is citrus illustrates XX sell June end grow In the we of the next the closed entered acres at will XxX on months at an XXX transaction, for to to XXXX, generate
That properties strategy County. which citrus our process activities estate the May, operations, since Collier real process to of Hutchcraft us with XXXX, our been in Mitch a real for continuing flow of early entitlement began accelerate remaining a existing recruited and Alico X,XXX-acre begin to addition from every encouraged its comprehensive estate a the Alico acre pursuing for operations. diversified and activities and holdings grove analysis execute create map use lead initiatives. evaluate our In to comprehensive is cash well to our generation has to our to near-term analysis agricultural In portfolio. Corkscrew land we entitlement best for highest these as highest that continued best for use its road as a develop against potential strategic
and planning following General to member, announce the served November that a Alico Current since in succeed Brokaw, Board of as XXXX. next Alico will XXXX. has our part which as our Annual of company. since to serve director George continue of selected of be Meeting, Chairman will pleased held I'm as Director who Chairman the February succession Adam to as XXXX been a George Board will has Putnam be appointed Adam also process,
on since has Officer habitats of April and the to Adam supply and chain, served leadership associated business people August finance. Chief has in dedicated XXXX. extensive of of of since other not-for-profit Alico served as experience knowledge XXXX Executive the Ducks a Directors organization and Unlimited, and conservation and for government affairs, has Adam wildlife waterfowl, wetlands the sustainability, U.S. Board areas upwind agriculture, of
supply among such from growth U.S. Ducks issues Commissioner state's as from focused and issues to served agriculture was energy. also we XXXX together and and Republican XXXX operations the navigating climate water environment. Chair supply until experience, the the water and XXXX. X he Prior XXXX, where from to and risks XXXX, service With to policy terms on Unlimited, Congressman and public Agriculture opportunities joining on He the understanding Florida's engaged sustainability, protecting where public for within the Florida's and and brings agriculture, to as expertise was of Florida with of of water regulatory fostering a agriculture other physical Adam XXXX of in Board House transition his change knowledge he
to financial discuss turn I'll detailed to that, With over Brad the call our results. more
