Maui Land & Pineapple Company, Inc. (NYSE: MLP) reported strong financial performance and significant revenue growth in the first half of 2025.
The company deployed capital to diversify revenue streams, including investing in an agave venture on underutilized croplands.
Operating revenues increased by 103% for the six months ended June 30, 2025, compared to the same period in 2024.
Revenue Growth
Operating revenues increased by $5,278,000, a 103% growth compared to 2024.
Land Development
Significant revenues from land development and sales projects, including a housing project with the State of Hawai'i.
Leasing Revenues
Leasing revenues increased by 46% through efforts to improve occupancy and lease underutilized croplands.
Costs Analysis
Operating costs increased due to land development and sales costs, leasing expenses, and water system operation costs.
- The decision to annuitize former employees' pensions impacted GAAP earnings temporarily but is expected to result in a comprehensive gain next quarter.
- Focused efforts on diversifying revenue streams and improving property management led to substantial revenue growth.
Maui Land & Pineapple Company, Inc. demonstrated strong financial growth in the second quarter of 2025, with strategic investments and revenue diversification driving positive results.