In Q4 2025, Limoneira delivered relatively flat revenue year over year but posted a significantly wider net loss due to strategic transformation and restructuring costs tied to its shift toward avocados and operational realignment.
Limoneira Company experienced a challenging third quarter of fiscal year 2025, with total net revenues decreasing to $47.5 million from $63.3 million in the prior year. The company reported a net loss of $1.0 million and an operating loss of $0.6 million, primarily due to pricing pressure in the lemon market and lower fresh utilization. Despite these challenges, the company is making strategic moves, including a partnership with Sunkist and exploring housing development on its Limco Del Mar Ranch, to drive future profitability and unlock long-term value.
The company faced pricing pressure in lemons due to an oversupplied market, resulting in lower revenue and a net loss. However, strong performance in avocados and real estate monetization initiatives provided some offset.
Limoneira's Q1 2025 revenue was $34.3 million, down from $39.7 million in Q1 2024, primarily due to lower fresh packed lemon sales. The company reported a net loss of $3.2 million and an adjusted net loss of $2.5 million. Despite revenue declines, operating loss improved by 31% year-over-year.
Limoneira Company reported a net revenue increase in Q4 2024, driven by solid lemon revenue and record avocado production. Total net revenue was $43.9 million, compared to $41.4 million in the fourth quarter of the previous fiscal year. The company continues to explore strategic alternatives to maximize stockholder value.
Limoneira Company reported a 21% increase in net revenue to $63.3 million for the third quarter of fiscal year 2024, driven by strong avocado revenues and improved pricing in fresh lemons and avocados. The company achieved operating income of $9.0 million, a significant improvement compared to the previous year's operating loss of $1.5 million. Increased avocado volume guidance for fiscal year 2024 was also announced.
Limoneira Company reported a decrease in total net revenue for the second quarter of fiscal year 2024, with $44.6 million compared to $48.1 million in the same period last year. However, non-GAAP Adjusted EBITDA more than doubled, reaching $16.6 million. The company increased its cash flow projections from its Harvest at Limoneira joint venture by 46% and expects to receive $180 million in total future proceeds.
Limoneira Company reported a 5% increase in total net revenue to $39.7 million for the first quarter of fiscal year 2024. The company's strategic shift towards an "asset-lighter" business model is reflected in the results, with agribusiness expenses decreasing by 5% and agribusiness operating loss improving by 84%.
Limoneira Company reported a 4% increase in total net revenue for the fourth quarter of fiscal year 2023, reaching $41.4 million compared to $39.7 million in the previous year. The company achieved improved fresh lemon pricing and growth in brokered lemon sales, alongside progress in monetizing non-strategic assets.
Limoneira Company reported a decrease in total net revenue to $52.5 million compared to $58.9 million in the third quarter of the previous fiscal year. The company's results were impacted by lower lemon pricing and lower fresh utilization rates due to heavy rains in California. However, the company's strategic shift towards an "asset-lighter" business model is evident in the growth of brokered lemons and other lemon sales, as well as farm management revenue.
Limoneira Company reported a slight increase in revenue to $48.1 million for Q2 2023, despite challenges in lemon and avocado pricing. The company is successfully executing a strategic shift towards a higher margin, 'asset-lighter' business model, reducing net debt significantly. They are maintaining lemon volume guidance but lowering avocado volume guidance for fiscal year 2023.
Limoneira Company reported first quarter fiscal year 2023 financial results with a revenue of $37.9 million. The company's operating income was $25.9 million, driven by a $40.0 million gain on the sale of Northern Properties. Net income applicable to common stock was $15.5 million, or $0.84 per diluted share.
Limoneira Company reported an 18% increase in total net revenue for the fourth quarter of fiscal year 2022, reaching $39.7 million. The company's operating loss improved to $1.9 million, and the net loss applicable to common stock was $2.8 million, or $0.16 per diluted share.
Limoneira Company reported a 20% increase in total net revenue to $58.9 million for the third quarter of fiscal year 2022, driven by record avocado revenues and increased fresh lemon sales. Operating income increased by over 200% to $11.1 million, and net income per diluted share was $0.40, a 100% increase compared to the prior year.
Limoneira Company reported a revenue increase driven by avocados and oranges. They are expanding One World of Citrus and exploring the sale of certain assets for an "Asset Lighter" business model.
Limoneira Company reported a 3% increase in revenue for the first quarter of fiscal year 2022, driven by higher avocado volume and pricing and higher lemon sales. However, the company's operating loss increased due to higher packing costs and third-party grower and supplier costs. The company has updated its full year avocado guidance from 5.0 to 6.0 million pounds to 6.0 to 7.0 million pounds and is raising its cash distribution expectations for Harvest at Limoneira from $80 million to $95 million.
Limoneira Company reported a 13% increase in revenue for the fourth quarter of fiscal year 2021, driven by higher lemon prices and strong brokered fruit revenue. The company's real estate development project, Harvest at Limoneira, continues to perform well with 30 new lot closings in the fourth quarter. The company expects to receive insurance compensation in the first quarter of calendar year 2022 related to the fourth quarter fruit spoilage.
Limoneira Company reported a decrease in total net revenue to $49.1 million compared to $53.6 million in the third quarter of the previous fiscal year, but increased operating income by 86% to $3.4 million. Net income attributable to common stock was $3.6 million, or $0.20 per diluted share.
Limoneira Company reported a 14% increase in total net revenue for the second quarter of fiscal year 2021, driven by record lemon volume and strong avocado volume. The company's focus on retail food and club grocery business continues to perform well, and there is an improvement in domestic foodservice and export sales. Adjusted EBITDA improved to $6.0 million compared to a loss of $0.1 million for the same period last year.
Limoneira Company reported a decrease in total net revenue to $38.3 million, compared to $41.7 million in the first quarter of the previous fiscal year. The decrease was primarily due to lower fresh lemon sales, which were impacted by COVID-19 related food service closures. Despite the revenue decrease, the company saw improved cost structure and cash flow compared to the same period last year.
Limoneira Company reported a decrease in total net revenue for the fourth quarter of fiscal year 2020 to $29.8 million, compared to $36.5 million in the fourth quarter of the previous fiscal year, with a net loss of $7.6 million, compared to a net loss of $3.2 million in the same period of fiscal year 2019.
Limoneira Company reported a 5.3% increase in revenue to $53.6 million and EPS of $0.12 for the third quarter of fiscal year 2020, driven by strong performance in lemons, avocados, and oranges. The company's real estate development also exceeded expectations with 144 new closings this fiscal year.
Limoneira Company reported a decrease in total revenue for Q2 2020, despite an increase in fresh lemon volume. The COVID-19 pandemic significantly reduced lemon prices due to oversupply and reduced overseas shipments. Avocado and orange revenues increased, and real estate development project sales progressed as expected.
Limoneira Company reported a slight decrease in total net revenue for the first quarter of fiscal year 2020, with a decrease in fresh lemon sales being partially offset by increases in avocado, orange, and specialty citrus revenue. The company is updating adjusted EBITDA expectations due to the negative impact of COVID-19 on consumer demand and supply chain disruptions.
Limoneira Company reported a total net revenue of $36.5 million for the fourth quarter of fiscal year 2019, compared to $14.7 million in the fourth quarter of the previous fiscal year. The net loss applicable to common stock was $3.2 million, compared to a net loss of $3.4 million in the fourth quarter of fiscal year 2018.
