Maui Land & Pineapple Company Inc. (MLP) reports earnings

The report was filed on March 31, 2025

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Maui Land & Pineapple Company Inc. (MLP-5.61%) has submitted its annual report on Form 10-K filing for the fiscal year ended December 31, 2024.

The filing details the company's operations across its three business segments: Land Development & Sales, Leasing, and Resort Amenities. The company owns approximately 22,300 acres of land and 247,000 square feet of commercial property on Maui, Hawaii.

Operating revenues for the year totaled $11.6 million, with $9.6 million generated from the Leasing segment, $1.4 million from Resort Amenities, and $520,000 from Land Development & Sales.

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The Leasing segment includes revenue from commercial, industrial, and agricultural leases, as well as licensing fees and water system sales. The segment's operating income was $4.6 million.

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The Resort Amenities segment operates the Kapalua Club, offering members access to amenities at the Kapalua Resort. This segment reported a slight operating loss of $53,000.

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The Land Development & Sales segment focuses on land planning, entitlement, development, and sales activities. The segment reported an operating loss of $584,000.

The company reported a net loss of $7.4 million for the year, compared to a net loss of $3.1 million in the previous year. The increase in loss was partly due to higher share-based compensation expenses and pension and post-retirement expenses.

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Cash and cash equivalents at the end of the year were $6.8 million, with an additional $2.7 million in investments. The company also had $12.0 million available under its revolving credit facility.

Maui Land & Pineapple Company continues to focus on its strategic plan to activate its assets into productive use, with ongoing land development projects and leasing activities aimed at increasing revenue.

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This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Maui Land & Pineapple Company Inc. annual 10-K report dated March 31, 2025. To report an error, please email earnings@qz.com.