Limoneira Co - LMNR STOCK NEWS

Limoneira (LMNR) announced a 50/50 joint venture with Agromin , California's largest organics waste recycler, to expand their organic waste recycling program. The venture will transform their existing 15-acre green waste composting facility at Limoneira Ranch in Santa Paula into a 70-acre commercial-scale facility processing both green and food waste.

The expanded facility is projected to generate significant returns with first-year EBITDA of $5.0 million, shared equally between partners, growing to $9.0 million annually over ten years. Limoneira will lease the site to the joint venture for approximately $0.6 million annually.

The project, scheduled to begin construction in fiscal year 2025 with completion phases in 2026, received a $10.0 million grant from California's CalRecycle Organics Grant Program. Once operational, the facility will process approximately 295,000 tons of organic waste yearly, supporting sustainable farming through improved soil health and water conservation.

Limoneira Company (Nasdaq: LMNR), a diversified citrus growing, packing, selling and marketing company, has announced its latest quarterly dividend. The company's Board of Directors declared a quarterly cash dividend of $0.075 per common share on March 18, 2025.

The dividend will be payable on April 11, 2025, to stockholders of record as of March 31, 2025. Limoneira operates in agribusiness activities and real estate development operations.

Limoneira (Nasdaq: LMNR) has announced a $30 million share repurchase authorization for its outstanding common stock. The company has also formally concluded its strategic alternatives exploration process that was announced on December 1, 2023.

The company remains committed to its comprehensive value creation roadmap, which includes:

• Divesting non-core assets
• Advancing real estate development initiatives at Harvest
• Pursuing land use conversion opportunities
• Monetizing water resources
• Expanding its position as a major U.S. avocado grower
• Enhancing its citrus services business

The share repurchase program can be executed through open market or private transactions and may be modified, suspended, or discontinued at any time. The timing and extent of repurchases will depend on market conditions, regulatory requirements, and other corporate considerations.

Limoneira (LMNR) reported Q1 FY2025 financial results showing improved operating performance despite market challenges. Total revenue was $34.3 million, down from $39.7 million in Q1 FY2024. The company's operating loss improved 31% to $5.3 million, while net loss per share was $0.18.

Fresh packed lemon sales reached $21.2 million with 1,147,000 cartons sold at an average price of $18.44 per carton. The company monetized water rights for $1.7 million in proceeds and maintains its guidance for fiscal year 2025, expecting fresh lemon volumes of 5.0-5.5 million cartons and avocado volumes of 7.0-8.0 million pounds.

The company continues its strategic transformation through an asset-lighter business model, land and water monetization, avocado production expansion, and citrus business growth across multiple channels.

Limoneira (LMNR) announced its participation in the 37th Annual ROTH Conference at the Laguna Cliffs Marriott in Dana Point, California on March 17th-18th. CEO Harold Edwards and CFO Mark Palamountain will conduct one-on-one investor meetings to discuss the company's strategic transformation.

The transformation strategy focuses on three key areas:

• Strategic land development, entitlements, water rights monetization, and asset sales to realize premium asset value
• Expansion of avocado production to 2,000 planted acres with a target of 30 million pounds annually
• Growth of citrus operations through an asset-lighter model, targeting 80% supply from grower partners

Limoneira (Nasdaq: LMNR), a diversified citrus growing and marketing company with agribusiness and real estate operations, has scheduled its first quarter 2025 financial results announcement for March 12, 2025, after market close.

The company will host a conference call at 1:30 PM Pacific Time (4:30 PM Eastern Time) to discuss the results for the quarter ended January 31, 2025. U.S. investors can participate by dialing (877) 407-0789, while international callers should use (201) 689-8562.

A replay will be available until March 26, 2025, accessible at (844) 512-2921 for U.S. callers and (412) 317-6671 for international participants (passcode: 13751474). A live webcast will be available on Limoneira's Investor Relations website, with a 30-day archive period.

Limoneira, a diversified citrus growing and real estate development company, has successfully completed three water pumping rights transactions in the Santa Paula Basin, totaling $1.7 million.

The sales, which valued the water rights at $30,000 per acre-foot, highlight the growing value of water resources and affirm Limoneira's long-term strategy of optimizing water asset management.

These transactions are part of a larger portfolio of approximately 9,000 acre-feet of water rights in the Santa Paula Basin, accumulated through efficient water practices and strategic land management over the past century.

Limoneira retains around 21,000-acre feet of water rights across the Santa Paula and Fillmore Basins, the Paso Robles Basin, and Class 3 Colorado River water rights. These retained rights could be opportunistically monetized for shareholder benefit while supporting the company's core agricultural and development operations.

The company remains committed to industry-leading irrigation and farm management practices to conserve water and meet regional demands.

Limoneira (Nasdaq: LMNR), a diversified citrus growing and marketing company with agribusiness and real estate development operations, has announced its participation in the upcoming 27th Annual ICR Conference. The event will take place at the JW Marriott Orlando Grande Lakes in Orlando, Florida, from January 13-15, 2025.

Chief Executive Officer Harold Edwards and Chief Financial Officer Mark Palamountain will deliver the company's investor presentation on Tuesday, January 14, 2025, at 9:00 am ET. Interested parties can access the live webcast and archived version of the presentation through the 'Investor' section under 'Events & Presentations' at www.limoneira.com.

Limoneira (LMNR) reported record net revenues of $191.5 million for fiscal year 2024, up 6% from the previous year, driven by record avocado sales of $25.1 million. The company achieved its avocado and lemon volume guidance for FY2024. Fourth quarter results showed total net revenue of $43.9 million, with agribusiness revenue at $42.5 million.

The company sold approximately 470,000 cartons of fresh lemons at $17.95 per carton in Q4 FY2024, compared to 550,000 cartons at $20.39 in Q4 FY2023. Avocado revenue reached $8.9 million in Q4 FY2024. Net loss per diluted share for Q4 was $0.11, while full-year net income per diluted share was $0.40.

For FY2025, Limoneira expects fresh lemon volumes of 5.0-5.5 million cartons and avocado volumes of 7.0-8.0 million pounds.