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Oct 31, 2019
Limoneira Q4 2019 Earnings Report
Reported financial results for Q4 and full fiscal year ended October 31, 2019.
Key Takeaways
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.
Total net revenue was $36.5 million, compared to $14.7 million in the fourth quarter of the previous fiscal year.
Agribusiness revenue was $35.3 million, compared to $13.5 million in the fourth quarter last year.
Net loss applicable to common stock was $3.2 million and compares to a net loss of $3.4 million in the fourth quarter of fiscal year 2018.
The Company recognized $2.3 million of avocado revenue from crop insurance payment related to the excessive heat in the summer of 2018
Limoneira
Limoneira
Limoneira Revenue by Segment
Revenue by Segment
Agribusiness Revenue
CapyFin.comOther operations Revenue
CapyFin.com Forward Guidance
The Company is reiterating its previously announced fiscal year 2020 guidance. Adjusted EBITDA for fiscal year 2020 is expected to be in the range of $22 million to $26 million. For fiscal year 2020, the Company and its international affiliates are expecting to sell 7.5 to 9.5 million cartons of fresh lemons globally.
Positive Outlook
- Adjusted EBITDA for fiscal year 2020 is expected to be in the range of $22 million to $26 million.
- Company and its international affiliates are expecting to sell 7.5 to 9.5 million cartons of fresh lemons globally.
- Expects a full year benefit from the joint venture formed with FGF and land acquisition in fiscal year 2020.
- Plans include approximately 632 residential units in Phase 1.
- Expects 300 of the 1,200 acres to become full bearing in fiscal year 2021.
Challenges Ahead
- The Company is unable to reconcile without unreasonable effort the above forward-looking non-GAAP measures related to EBITDA
- Variability of the changes excluded from these non-GAAP measures may have a significant and potentially unpredictable impact on its future GAAP financial results.
- Weather conditions that affect production, transportation, storage, import and export of fresh product
- Increased pressure from crop disease, insects and other pests
- Disruption of water supplies or changes in water allocations
Revenue & Expenses
Visualization of income flow from segment revenue to net income