KAANAPALI LAND LLC (KANP) Form 10-Q — Aug 13, 2026
Kaanapali Land, LLC filed its 10-Q for the quarter ended June 30, 2026, reporting first-half net income of $12.75 million ($6.91 per share) versus a $1.5 million loss a year earlier, driven by the March 10, 2026 closing of the $19.9 million Pioneer Mill site sale in Lahaina, Maui and a $4.0 million Lahaina wildfire insurance recovery received in January 2026. Second-quarter standalone results were weaker: revenue of $620,000 and a net loss of $557,000 ($(0.30) per share), wider than the $338,000 loss a year ago, including a $532,000 green coffee inventory write-down.
Key figures
- Eps
- $6.91 H1 2026 vs $(0.82) H1 2025; $(0.30) Q2 2026 vs $(0.18) Q2 2025
- Revenue
- $21.0M for six months ended 6/30/26 vs $0.8M prior year; $0.62M for Q2 2026
- Net Income
- $12.75M H1 2026 vs $(1.5)M H1 2025; $(0.56)M Q2 2026 vs $(0.34)M Q2 2025
- Total Assets
- 97309000
- Cash Position
- 37956000
- Deal Value Usd
- 19900000
- Shares Outstanding
- 1,792,613 common shares and 52,000 Class C shares
- Total liabilities
- $8.4M — no debt on balance sheet
- Shareholders equity
- $88.9M at 6/30/26 vs $77.1M at 12/31/25
- Pension qrp transfer
- $5M in suspense; $1.2M allocated February 2026
- Nhc credit loss reserve
- $1.079M — entire receivable and interest reserved
- Weighted average shares
- 1,845,000
- Wildfire insurance gain
- $4.038M recorded H1 2026 for January 2026 payment
- Property sale gain driver
- $19.9M Pioneer Mill site sale (21 acres, Lahaina) closed March 10, 2026; land basis and other costs $9.6M
- Coffee inventory writedown
- $532K to net realizable value
- Operating cash flow h1 2026
- $21.2M vs $(2.3)M prior year
- Crop insurance proceeds h1 2026
- $1.367M
AI analysis
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