Maui Land & Pineapple Company, Inc. Reports Fiscal Second Quarter 2025 Results

About this update from Maui Land & Pineapple Company, Inc.

KAPALUA, Hawai‘i, Aug. 14, 2025 (GLOBE NEWSWIRE) -- Maui Land & Pineapple Company, Inc. (NYSE: MLP) today reported financial results covering the quarter ended June 30, 2025. “The Company’s strong financial performance and significant revenue growth in the first half of 2025 validate our path to unlock value by maximizing the productivity of our land and commercial properties,” said Race Randle, CEO, Maui Land & Pineapple Company, Inc. “We continue to resolve legacy responsibilities and market non-strategic parcels for sale to fund projects and land improvements. Throughout the second quarter, we intentionally deployed capital to grow and diversify revenue streams, including the investment in materials and labor to launch our agave venture by planting blue weber agave on underutilized croplands in Upcounty, Maui. In addition, our reinvestment in asset management and commercial properties yielded strong results, with a 46% gain in leasing revenue over the same six month period last year.” Second Quarter 2025 Highlights “We made the strategic financial decision to annuitize former employees’ pensions, which temporarily impacted our GAAP earnings this quarter and will be offset next quarter with a comprehensive gain,” explained Wade Kodama, Chief Financial Officer. Non-GAAP Financial Measures Certain non-GAAP financial measures are presented in this press release, including Adjusted EBITDA and Cash and Investments Convertible to Cash, to provide information that may assist investors in understanding the Company's financial results and financial condition and assessing its prospects for future performance. We believe that Adjusted EBITDA is an important indicator of our operating performance because it excludes items that are unrelated to, and may not be indicative of, our core operating results. We believe Cash and Investments Convertible to Cash are important indicators of liquidity because it includes items that are convertible into cash in the short term. These non-GAAP financial measures are not intended to represent and should not be considered more meaningful measures than, or alternatives to, measures of operating performance or liquidity as determined in accordance with GAAP. To the extent we utilize such non-GAAP financial measures in the future, we expect to calculate them using a consistent method from period to period. EBITDA is a non-GAAP financial measure defined as net income (loss) excluding interest, taxes, depreciation and amortization. Adjusted EBITDA is further adjusted for non-cash stock-based compensation expense, pension and post-retirement expenses, and bad debt Adjusted EBITDA is a key measure used by the Company to evaluate operating performance, generate future operating plans and make strategic decisions for the allocation of capital. The Company presents Adjusted EBITDA to provide information that may assist investors in understanding its financial results. However, Adjusted EBITDA is not intended to be a substitute for net income (loss). A reconciliation of Adjusted EBITDA to the most directly comparable GAAP financial measure is provided further below. Cash and Investments Convertible to Cash is a non-GAAP financial measure defined as cash and cash equivalents plus investments convertible to cash within forty eight hours. Cash and Cash Investments Convertible to Cash is a key measure used by the Company to evaluate internal liquidity. Additional Information More information about Maui Land & Pineapple Company’s second quarter 2025 operating results are available in the Form 10-Q filed with the Securities and Exchange Commission and posted at mauiland.com . About Maui Land & Pineapple Company Maui Land & Pineapple Company, Inc. (NYSE: MLP) is dedicated to the thoughtful stewardship of its portfolio, including over 22,000 acres of land along with approximately 247,000 square feet of commercial real estate. The Company envisions a future where Maui residents thrive in more resilient communities with sufficient housing supply, economic stability, food and water security, and deep connections between people and place. For over a century, MLP has built a legacy of thoughtful stewardship through conservation, agriculture, community building, and land management. The Company continues this legacy today with a mission to thoughtfully maximize the productive use of its assets to meet the critical needs of current and future generations. Company assets include land for future residential communities and mixed-use projects within the world-renowned Kapalua Resort, home to luxury hotels such as The Ritz-Carlton Maui and Montage Kapalua Bay, two championship golf courses, pristine beaches, a network of walking and hiking trails, and the Pu‘u Kukui Watershed, the largest private nature preserve in Hawai‘i. Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements regarding the Company’s ability to put its land into productive use, our ability to cultivate and commercialize Agave, the resolution of legacy obligations, our ability to market and sell nonstrategic parcels in our portfolio, and our ability to reduce share-based compensation expenses. These forward-looking statements are based upon the current beliefs and expectations of management and are inherently subject to significant business, economic and competitive uncertainties, and contingencies, many of which are beyond the control of the Company. In addition, these forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are subject to change. Actual results may differ materially from the anticipated results discussed in these forward-looking statements because of possible uncertainties. Factors that could cause actual results to differ materially from those expressed in the forward-looking statements are discussed in the Company's reports (such as Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K) filed with the SEC and available on the SEC's Internet site (http://www.sec.gov). We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether because of new information, future developments or otherwise. # # # CONTACT    

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