Maui Land & Pineapple Company Reports First Quarter 2023 Results

Maui Land & Pineapple Company, Inc. (NYSE: MLP) today reported financial results for the quarter ended March 31, 2023.

First Quarter 2023 Highlights

• Revenue increased by 2% year-over-year to $2,298,000.

• Costs and expenses totaled $3,668,000 – an increase of $918,000 compared to the first quarter of 2022 – due to one-time events associated with MLP’s recent leadership transition amounting to $900,000.

• Net losses amounted to $1,364,000 or $0.07 per common share, compared a net loss of $618,000 or $0.03 per common share in the first three months of 2022.

• Cash on hand grew by $154,000 year-over-year to $8.653 million.

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