Kaanapali Land, LLC Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 14, 2023 at 04:55 pm EDT
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Kaanapali Land, LLC reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 1.15 million compared to USD 1.24 million a year ago. Revenue was USD 1.57 million compared to USD 1.26 million a year ago. Net income was USD 3.73 million compared to net loss of USD 0.902 million a year ago. Basic earnings per share from continuing operations was USD 2.02 compared to basic loss per share from continuing operations of USD 0.49 a year ago.
For the six months, sales was USD 2.3 million compared to USD 7.25 million a year ago. Revenue was USD 3.07 million compared to USD 7.29 million a year ago. Net income was USD 3.39 million compared to USD 1.51 million a year ago. Basic earnings per share from continuing operations was USD 1.84 compared to USD 0.82 a year ago.
Kaanapali Land, LLC operates through two segments: Property and Agriculture. The Agriculture segment is primarily engaged in farming, harvesting and milling operations relating to coffee orchards pursuant to farming agreements with the LOA and a related entity. The Company also cultivates, harvests and sells bananas and citrus fruits and engages in certain ranching operations. The Property segment primarily develops land for sale and negotiates bulk sales of undeveloped land. The Property and Agriculture segments operate exclusively in the State of Hawaii. The Company's developable lands are located on the west side of the Island of Maui in the State of Hawaii. The majority of the developable lands are located near to the Kaanapali resort area. Its agricultural operations consist primarily of cultivation, milling and sale of coffee. The Company sells milled green coffee under the brand name Mauigrown Coffee mainly to interisland Hawaii customers.
KAANAPALI LAND, LLC 