Kaanapali Land LLC
36.00+0.00 (+0%)
Oct 29, 4:00:00 PM EDT · OTC Markets OTCPK · KANP · USD
Key Stats
Market Cap
64.53MP/E (TTM)
-Basic EPS (TTM)
-1.95Dividend Yield
0%Recent Filings
10-Q
Q2 FY2025 results
Kaanapali Land's Q2 FY2025 revenues fell 11% y/y to $376K, driven by lower interest income, while total revenues for the half-year dropped 15% y/y to $816K amid ongoing wildfire disruptions. Operating loss narrowed sharply to $1.1M from $3.1M y/y, thanks to reduced selling expenses after last year's $1M credit loss reserve on a hospital receivable; yet net loss widened to $338K from $2.0M profit, as 2024's $4.9M insurance gains for Lahaina fire damage faded, offset only by $682K crop insurance proceeds. Agriculture and property segments both posted losses, with coffee operations hampered by mill relocation. Cash dipped to $19.9M, with $2.3M used in operations and no debt. A pending $20M land sale in Lahaina awaits environmental clearance. Water use permits pose regulatory hurdles for development.
10-Q
Q1 FY2025 results
Kaanapali Land posted a Q1 net loss of $1.2M, up 13% y/y from $1.0M, with total revenues dipping 19% y/y to $440K amid ongoing Lahaina wildfire disruptions that halted coffee processing until a new mill opened in January 2025. Operating loss widened slightly to $1.5M y/y, driven by higher selling, general, and administrative expenses from payroll and site cleanup, while cost of sales fell 56% y/y to $293K as coffee growing costs shifted to inventory. Agriculture revenue slipped 16% y/y to $108K, yet the segment's loss narrowed sharply to $298K from $623K, thanks to lower crop expenses. Cash dipped to $20.6M, with operating cash use at $1.7M and $1.0M in property additions; no debt burdens the balance sheet. A pending $20M land sale awaits post-July 2025 lease end and environmental tests. Water use permits pose a key risk, potentially delaying Maui developments.
10-K
FY2024 results
Kaanapali Land's FY2024 results showed a net loss of $1.1 million, down from $3.7 million profit in 2023, as the Lahaina wildfire crushed coffee sales to $506 thousand from $3.0 million, with no Q4 processing due to mill destruction. Yet insurance kicked in $6.0 million for damages and lost profits, offsetting much of the hit while the company eyes a $20 million Pioneer Mill site sale pending environmental tests. Cash dipped to $23 million amid $3.0 million in property adds, but liquidity holds for development pushes like Puukolii Village. No dividends or buybacks; water permit delays loom large.
8-K
Land sale agreement terminates
Kaanapali Land's subsidiary saw its June 3, 2024, agreement to sell 241 acres in Hawaii's Pu'ukoli'i Village Mauka terminate on November 15, 2024, after the buyer skipped due diligence. Escrowed funds now return to the buyer. This frees up the land for other deals, yet underscores Hawaii's tricky real estate market.
10-Q
Q3 FY2024 results
Kaanapali Land posted a Q3 net loss of $0.3M, or $(0.17) per share, swinging from a $0.3M profit last year, as revenues tumbled 74% y/y to $0.4M from $1.5M amid the Lahaina wildfire's toll on agriculture. Yet insurance proceeds of $1.1M that quarter, part of $6.2M YTD, cushioned the blow and lifted nine-month net income to $0.7M, down sharply from $3.7M in 2023. Sales plunged 90% y/y to $0.3M YTD, with operating loss widening to $6.1M from a slim $0.8M profit, driven by wildfire-disrupted coffee processing and a $1M credit loss reserve on a hospital-related receivable. Cash dipped to $25.5M, with operating cash use of $0.05M and free cash flow negative at $(2.4M) (derived), but no debt burdens the balance sheet. Pending land deals for 241 acres at $29.9M and 20 acres at $20M could unlock value, though delays loom. Wildfire recovery drags on Maui tourism.
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