Maui Land & Pineapple Company, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 18, 2023 at 09:01 pm
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Maui Land & Pineapple Company, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 2.24 million compared to USD 2.2 million a year ago. Revenue was USD 2.47 million compared to USD 13.99 million a year ago. Net loss was USD 1.12 million compared to net income of USD 10.53 million a year ago. Basic loss per share from continuing operations was USD 0.06 compared to basic earnings per share from continuing operations of USD 0.54 a year ago.
For the six months, sales was USD 4.32 million compared to USD 4.23 million a year ago. Revenue was USD 4.77 million compared to USD 16.23 million a year ago. Net loss was USD 2.48 million compared to net income of USD 9.91 million a year ago. Basic loss per share from continuing operations was USD 0.13 compared to basic earnings per share from continuing operations of USD 0.51 a year ago.
Maui Land & Pineapple Company, Inc. is engaged in planning, managing, developing, and selling, residential, resort, commercial, agricultural, and industrial real estate. The Companyâs segments include Land Development and sales, Leasing, and Resort Amenities. The Land Development and sales includes all land planning, entitlement, development, and sales activities of its landholdings on Maui. The Leasing segment operations include commercial, industrial, and agricultural leases of land and property, licensing of its registered trademarks and trade names, sales of potable and non-potable water in West and Upcountry Maui. The Resort Amenities segment is engaged in the operations of the Kapalua Club, a private, non-equity club providing its members special programs, access, and other privileges at certain amenities at the Kapalua Resort, including a 30,000 square foot full-service spa and fitness center as well as a private pool-side dining beach club.