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Jul 31, 2020
Limoneira Q3 2020 Earnings Report
Revenue and earnings increased driven by lemons, avocados and oranges.
Key Takeaways
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.
Revenue increased by 5.3% to $53.6 million compared to the same period last year.
EPS increased to $0.12 compared to a loss of $(0.06) for the same period last year.
Record fresh lemon volume in the third quarter with 2.0 million cartons sold.
Avocado volume increased to 6.1 million pounds in the third quarter.
Revenue by Segment
Forward Guidance
Looking forward, the company is excited about growth opportunities in fiscal 2021 as they have dramatically increased sales in grocery this year and believe they are very well positioned for foodservice growth as restaurants and bars begin to reopen. The Company continues to expect record lemon volumes for fiscal year 2020.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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