08:53 AM EDT, 10/17/2024 (MT Newswires) -- Alico ( ALCO ) said Thursday that it experienced minimal tree damage from Hurricane Milton last week, but added that it is still assessing the full impact of the storm on its assets and operations.

The agribusiness and land management company said its approximately 48,000 acres of citrus groves sustained hurricane or tropical storm-force winds for various lengths of time.

"Field assessments are ongoing, but initial observations include measurable drop of fruit from trees in our northern groves," the company said. "The magnitude of this drop will be formally calculated by our staff and our insurance companies over the coming weeks."

Alico ( ALCO ) also said it did not experience any significant flooding at its properties and its headquarters in Ft. Myers, Florida was not damaged.

"We believe the lessons learned over the past century, especially since Hurricane Irma in 2017 and Ian in 2022, allowed us to be better prepared prior to landfall and to more rapidly begin recovery after impact," the company said in a statement.