Limoneira Company Announces Fourth Quarter and Full Fiscal Year 2025 Financial Results
Key Terms
ebitda financial
non-gaap financial
diluted eps financial
operating loss financial
net debt financial
Company Achieved Avocado and Lemon Volume Guidance for Fiscal Year 2025
Strategic Investments and Transformation Costs Initiatives in Fiscal Year 2025 Position Company for Anticipated
Avocado Production Capacity Set to Nearly Double with 700 Acres of Non-Bearing Trees Maturing Over Next Three to Four Years
The Company continues to execute on its value creation strategy of growing agriculture income and monetizing land and water assets.
-
Agriculture initiatives include:
- Streamlining operations;
- Expanding avocado production;
- Optimizing lemon packing with recently announced Sunkist partnership; and
- Expanding organic recycling facility.
-
Land and water assets initiatives include:
-
Selling non-strategic land assets (remaining near-term pipeline valued at approximately
$40 million -
Selling certain water rights (valued at approximately
$50 $70 million
-
Selling non-strategic land assets (remaining near-term pipeline valued at approximately
Management Comments
Harold Edwards, President and Chief Executive Officer of the Company, stated, “Fiscal 2025 represents a transformational year in Limoneira's strategic evolution from moving our primary focus away from an oversupplied lemon offering to avocados, which provide much greater demand and stronger long-term consumption growth potential. The fourth quarter included strategic transformation costs totaling approximately
Beyond our Sunkist partnership and recent cost restructuring initiatives, our strategy is focused on creating measurable value across multiple growth engines. Our 700 acres of non-bearing avocado trees are expected to nearly double our production capacity over the next three to four years; our planned organic recycling joint venture is expected to deliver approximately
Mr. Edwards continued, “We believe the strategic initiatives and investments implemented over the past three years resulted in a more resilient business model with reduced commodity exposure, enhanced operational efficiency, and multiple profit centers. As cash generation improves, we will evaluate capital allocation opportunities including share repurchases, dividend enhancements and debt reduction.”
Fiscal Year 2025 Fourth Quarter Results
For the fourth quarter of fiscal year 2025, total net revenues were
Agribusiness revenues in the fourth quarter of fiscal year 2025 includes
The Company recognized
The Company recognized
Specialty citrus, wine grape and other revenues were
Due to the termination of the farm management agreement with PGIM Real Estate Finance, LLC effective March 31, 2025, there was no farm management revenue in the fourth quarter of fiscal year 2025, compared to
Total costs and expenses in the fourth quarter of fiscal year 2025 were
Operating loss for the fourth quarter of fiscal year 2025 was
Net loss applicable to common stock, after preferred dividends, for the fourth quarter of fiscal year 2025 was
Adjusted net loss for diluted EPS in the fourth quarter of fiscal year 2025 was
Non-GAAP adjusted EBITDA was a loss of
Fiscal Year 2025 Results
For the fiscal year ended October 31, 2025, total net revenues were
For fiscal year 2025, adjusted net loss for diluted EPS was
Balance Sheet and Liquidity
During the fiscal year ended October 31, 2025, net cash used in operating activities was
Long-term debt as of October 31, 2025, was
Real Estate Development and Water Transactions
Limoneira is the general partner of Limco Del Mar, Ltd. (“Del Mar”), a
In September 2025, Limoneira announced a plan to explore providing housing on the Limco Del Mar ranch to address Ventura County’s housing needs. Limoneira believes that infill development, such as the Limco Del Mar project, offers the opportunity for efficient, balanced, and well-planned development that has the potential to stimulate economic growth, create jobs, and contribute to vibrant livable communities.
In April 2024, Harvest at Limoneira closed on lot sales representing 554 residential units, thus completing the sell-out of Phase 2 of the development. Total lot sales of 1,261 residential units closed since the project’s inception. In May 2024, the Company announced that the
In January 2025, the Company sold water pumping rights in the
In November 2025, the Company sold its Chilean ranches, Pan de Azucar and
Fiscal Year 2026 Guidance and Longer-Term Outlook
The Company expects fresh lemon volumes to be in the range of 4.0 million to 4.5 million cartons for fiscal year 2026. Avocado volumes are expected to be in the range of 5.0 million to 6.0 million pounds for fiscal year 2026.
The Company expects to receive total proceeds of approximately
Harvest at Limoneira Cash Flow Projections (in millions)
Fiscal Year |
|
2024 Actual |
|
2025 Actual |
|
2026 |
|
2027 |
|
2028 |
|
2029 |
|
2030 |
Projected Distributions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The Company has 700 acres of non-bearing avocados estimated to become full bearing over the next three to four years, which the Company expects will enable strong organic growth in the coming years. Additionally, the Company plans to continue expanding its plantings of avocados over the next two fiscal years. The foregoing describes organic growth opportunities and does not include potential acquisition opportunities for the Company in its highly fragmented industry.
Conference Call Information
The Company will host a conference call to discuss its financial results on December 23, 2025, at 1:30 pm Pacific Time (4:30 pm Eastern Time). Investors interested in participating in the live call can dial (877) 407-0789 from the
About Limoneira Company
Limoneira Company, a 132-year-old international agribusiness headquartered in
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on Limoneira’s current expectations about future events and can be identified by terms such as “could,” “expect,” “may,” “anticipate,” “outlook,” “plans,” “intend,” “should,” “will,” “likely,” “strive,” and similar expressions referring to future periods.
Limoneira believes the expectations reflected in the forward-looking statements are reasonable but cannot guarantee future results, level of activity, performance or achievements. Actual results may differ materially from those expressed or implied in the forward-looking statements. Therefore, Limoneira cautions you against relying on any of these forward-looking statements. Factors that may cause future outcomes to differ materially from those foreseen in forward-looking statements include, but are not limited to: success in executing the Company’s business plans and strategies, including the merger of the Company's citrus sales and marketing into Sunkist Growers Inc. and managing the risks involved in the foregoing; the ability of the merger to improve efficiency and reduce cost; changes in laws, regulations, rules, quotas, tariffs and import laws; weather conditions that affect production, transportation, storage, import and export of fresh produce; increased pressure from crop disease, insects and other pests; disruption of water supplies or changes in water allocations; disruption in the global supply chain; pricing and supply of raw materials and products; market responses to industry volume pressures; pricing and supply of energy; inability to pay debt obligations; ability to maintain compliance with debt covenants under our loan agreements or obtain modifications, waivers or deferrals of such covenants; changes in interest rates and the impact of inflation; availability of financing for land development activities; general economic conditions for residential and commercial real estate development; political changes and economic crises; international conflict; acts of terrorism; labor disruptions, strikes or work stoppages; government restrictions on land use; the impact of foreign exchange rate movements; loss of important intellectual property rights; and market and pricing risks due to concentrated ownership of stock. Other risks and uncertainties include those that are described in Limoneira’s SEC filings that are available on the SEC’s website at http://www.sec.gov. Limoneira undertakes no obligation to subsequently update or revise the forward-looking statements made in this press release, except as required by law.
LIMONEIRA COMPANY
CONSOLIDATED BALANCE SHEETS (UNAUDITED) (in thousands, except share and per share data) |
||||||||
|
October 31, |
|||||||
|
|
2025 |
|
|
|
2024 |
|
|
Assets |
|
|
|
|||||
Current assets: |
|
|
|
|||||
Cash |
$ |
1,509 |
|
|
$ |
2,996 |
|
|
Accounts receivable, net |
|
15,432 |
|
|
|
14,734 |
|
|
Cultural costs |
|
2,406 |
|
|
|
1,877 |
|
|
Prepaid expenses and other current assets |
|
4,444 |
|
|
|
3,849 |
|
|
Receivables/other from related parties, net |
|
2,973 |
|
|
|
2,390 |
|
|
Assets held for sale |
|
13,718 |
|
|
|
— |
|
|
Total current assets |
|
40,482 |
|
|
|
25,846 |
|
|
Property, plant and equipment, net |
|
172,645 |
|
|
|
162,046 |
|
|
Real estate development |
|
10,628 |
|
|
|
10,201 |
|
|
Equity in investments |
|
72,167 |
|
|
|
81,546 |
|
|
Goodwill |
|
1,506 |
|
|
|
1,504 |
|
|
Intangible assets, net |
|
2,621 |
|
|
|
5,221 |
|
|
Other assets |
|
11,088 |
|
|
|
12,451 |
|
|
Total assets |
$ |
311,137 |
|
|
$ |
298,815 |
|
|
|
|
|
|
|||||
Liabilities, Convertible Preferred Stock and Stockholders’ Equity |
|
|
|
|||||
Current liabilities: |
|
|
|
|||||
Accounts payable |
$ |
7,896 |
|
|
$ |
7,260 |
|
|
Growers and suppliers payable |
|
6,885 |
|
|
|
8,960 |
|
|
Accrued liabilities |
|
9,290 |
|
|
|
12,483 |
|
|
Payables to related parties |
|
5,989 |
|
|
|
5,542 |
|
|
Current portion of long-term debt |
|
31 |
|
|
|
559 |
|
|
Total current liabilities |
|
30,091 |
|
|
|
34,804 |
|
|
Long-term liabilities: |
|
|
|
|||||
Long-term debt, less current portion |
|
72,450 |
|
|
|
40,031 |
|
|
Deferred income taxes |
|
15,378 |
|
|
|
20,084 |
|
|
Other long-term liabilities |
|
2,381 |
|
|
|
1,395 |
|
|
Total liabilities |
|
120,300 |
|
|
|
96,314 |
|
|
Commitments and contingencies |
|
— |
|
|
|
— |
|
|
Series B Convertible Preferred Stock – |
|
1,479 |
|
|
|
1,479 |
|
|
Series B-2 Convertible Preferred Stock – |
|
9,331 |
|
|
|
9,331 |
|
|
Stockholders’ equity: |
|
|
|
|||||
Series A Junior Participating Preferred Stock – |
|
— |
|
|
|
— |
|
|
Common Stock – |
|
180 |
|
|
|
180 |
|
|
Additional paid-in capital |
|
171,365 |
|
|
|
170,243 |
|
|
Retained earnings |
|
(1,070 |
) |
|
|
20,826 |
|
|
Accumulated other comprehensive loss |
|
(6,270 |
) |
|
|
(6,614 |
) |
|
Treasury stock, at cost, 250,977 shares at October 31, 2025 and October 31, 2024 |
|
(3,493 |
) |
|
|
(3,493 |
) |
|
Noncontrolling interests |
|
19,315 |
|
|
|
10,549 |
|
|
Total stockholders' equity |
|
180,027 |
|
|
|
191,691 |
|
|
Total liabilities, convertible preferred stock and stockholders’ equity |
$ |
311,137 |
|
|
$ |
298,815 |
|
|
LIMONEIRA COMPANY
CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) (in thousands, except per share data) |
||||||||||||||||
|
Three Months Ended October 31, |
|
Fiscal Year Ended October 31, |
|||||||||||||
|
|
2025 |
|
|
|
2024 |
|
|
|
2025 |
|
|
|
2024 |
|
|
Net revenues: |
|
|
|
|
|
|
|
|||||||||
Agribusiness |
$ |
41,309 |
|
|
$ |
42,478 |
|
|
$ |
153,685 |
|
|
$ |
185,923 |
|
|
Other operations |
|
1,512 |
|
|
|
1,383 |
|
|
|
6,038 |
|
|
|
5,580 |
|
|
Total net revenues |
|
42,821 |
|
|
|
43,861 |
|
|
|
159,723 |
|
|
|
191,503 |
|
|
Costs and expenses: |
|
|
|
|
|
|
|
|||||||||
Agribusiness |
|
47,557 |
|
|
|
39,820 |
|
|
|
154,810 |
|
|
|
164,807 |
|
|
Other operations |
|
1,211 |
|
|
|
1,413 |
|
|
|
4,477 |
|
|
|
5,274 |
|
|
Impairment of intangible asset |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
643 |
|
|
Gain on sales of water rights |
|
— |
|
|
|
— |
|
|
|
(1,488 |
) |
|
|
— |
|
|
Loss (gain) on disposal of assets, net |
|
679 |
|
|
|
(378 |
) |
|
|
706 |
|
|
|
(507 |
) |
|
Gain on remeasurement of previously held equity method investment |
|
(2,852 |
) |
|
|
— |
|
|
|
(2,852 |
) |
|
|
— |
|
|
Selling, general and administrative |
|
7,310 |
|
|
|
5,757 |
|
|
|
24,475 |
|
|
|
27,464 |
|
|
Total costs and expenses |
|
53,905 |
|
|
|
46,612 |
|
|
|
180,128 |
|
|
|
197,681 |
|
|
Operating loss |
|
(11,084 |
) |
|
|
(2,751 |
) |
|
|
(20,405 |
) |
|
|
(6,178 |
) |
|
Other (expense) income: |
|
|
|
|
|
|
|
|||||||||
Interest income |
|
12 |
|
|
|
55 |
|
|
|
62 |
|
|
|
118 |
|
|
Interest expense, net of patronage dividends |
|
(655 |
) |
|
|
(130 |
) |
|
|
(1,553 |
) |
|
|
(961 |
) |
|
Equity in earnings of investments, net |
|
(69 |
) |
|
|
1,240 |
|
|
|
798 |
|
|
|
18,356 |
|
|
Other income (expense), net |
|
67 |
|
|
|
(12 |
) |
|
|
93 |
|
|
|
212 |
|
|
Total other (expense) income |
|
(645 |
) |
|
|
1,153 |
|
|
|
(600 |
) |
|
|
17,725 |
|
|
(Loss) income before income tax benefit (provision) |
|
(11,729 |
) |
|
|
(1,598 |
) |
|
|
(21,005 |
) |
|
|
11,547 |
|
|
Income tax benefit (provision) |
|
2,725 |
|
|
|
(322 |
) |
|
|
4,649 |
|
|
|
(4,373 |
) |
|
Net (loss) income |
|
(9,004 |
) |
|
|
(1,920 |
) |
|
|
(16,356 |
) |
|
|
7,174 |
|
|
Net loss attributable to noncontrolling interests, net |
|
313 |
|
|
|
61 |
|
|
|
375 |
|
|
|
542 |
|
|
Net (loss) income attributable to Limoneira Company |
|
(8,691 |
) |
|
|
(1,859 |
) |
|
|
(15,981 |
) |
|
|
7,716 |
|
|
Preferred dividends |
|
(125 |
) |
|
|
(125 |
) |
|
|
(501 |
) |
|
|
(501 |
) |
|
Net (loss) income applicable to common stock |
$ |
(8,816 |
) |
|
$ |
(1,984 |
) |
|
$ |
(16,482 |
) |
|
$ |
7,215 |
|
|
|
|
|
|
|
|
|
|
|||||||||
Basic net (loss) income per common share |
$ |
(0.49 |
) |
|
$ |
(0.11 |
) |
|
$ |
(0.93 |
) |
|
$ |
0.40 |
|
|
|
|
|
|
|
|
|
|
|||||||||
Diluted net (loss) income per common share |
$ |
(0.49 |
) |
|
$ |
(0.11 |
) |
|
$ |
(0.93 |
) |
|
$ |
0.40 |
|
|
|
|
|
|
|
|
|
|
|||||||||
Weighted-average common shares outstanding-basic |
|
17,871 |
|
|
|
17,760 |
|
|
|
17,834 |
|
|
|
17,715 |
|
|
Weighted-average common shares outstanding-diluted |
|
17,871 |
|
|
|
17,760 |
|
|
|
17,834 |
|
|
|
17,715 |
|
|
Non-GAAP Financial Measures
Due to significant depreciable assets associated with the nature of the Company’s operations and interest costs associated with the Company's capital structure, management believes that earnings before interest, income taxes, depreciation and amortization ("EBITDA") and adjusted EBITDA, which excludes stock-based compensation, impairment of intangible asset, loss (gain) on disposal of assets, net, cash severance benefits, contract termination fee and gain on remeasurement of previously held equity method investment are important measures to evaluate the Company's results of operations between periods on a more comparable basis. Such measurements are not prepared in accordance with
EBITDA and adjusted EBITDA are summarized and reconciled to net (loss) income attributable to Limoneira Company, which management considers to be the most directly comparable financial measure calculated and presented in accordance with GAAP, as follows (in thousands):
|
Three Months Ended October 31, |
|
Fiscal Year Ended October 31, |
|||||||||||||
|
|
2025 |
|
|
|
2024 |
|
|
|
2025 |
|
|
|
2024 |
|
|
Net (loss) income attributable to Limoneira Company |
$ |
(8,691 |
) |
|
$ |
(1,859 |
) |
|
$ |
(15,981 |
) |
|
$ |
7,716 |
|
|
Interest income |
|
(12 |
) |
|
|
(55 |
) |
|
|
(62 |
) |
|
|
(118 |
) |
|
Interest expense, net of patronage dividends |
|
655 |
|
|
|
130 |
|
|
|
1,553 |
|
|
|
961 |
|
|
Income tax (benefit) provision |
|
(2,725 |
) |
|
|
322 |
|
|
|
(4,649 |
) |
|
|
4,373 |
|
|
Depreciation and amortization |
|
2,602 |
|
|
|
2,101 |
|
|
|
9,209 |
|
|
|
8,374 |
|
|
EBITDA |
|
(8,171 |
) |
|
|
639 |
|
|
|
(9,930 |
) |
|
|
21,306 |
|
|
Stock-based compensation |
|
832 |
|
|
|
977 |
|
|
|
3,077 |
|
|
|
4,116 |
|
|
Impairment of intangible asset |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
643 |
|
|
Loss (gain) on disposal of assets, net |
|
679 |
|
|
|
(378 |
) |
|
|
706 |
|
|
|
(507 |
) |
|
Cash severance benefits |
|
447 |
|
|
|
(38 |
) |
|
|
447 |
|
|
|
1,160 |
|
|
Contract termination fee |
|
2,100 |
|
|
|
— |
|
|
|
2,100 |
|
|
|
— |
|
|
Gain on remeasurement of previously held equity method investment |
|
(2,852 |
) |
|
|
— |
|
|
|
(2,852 |
) |
|
|
— |
|
|
Adjusted EBITDA |
$ |
(6,965 |
) |
|
$ |
1,200 |
|
|
$ |
(6,452 |
) |
|
$ |
26,718 |
|
|
The following is a reconciliation of net (loss) income attributable to Limoneira Company to adjusted net (loss) income for diluted EPS (in thousands, except per share data):
|
Three Months Ended October 31, |
|
Fiscal Year Ended October 31, |
|||||||||||||
|
|
2025 |
|
|
|
2024 |
|
|
|
2025 |
|
|
|
2024 |
|
|
Net (loss) income attributable to Limoneira Company |
$ |
(8,691 |
) |
|
$ |
(1,859 |
) |
|
$ |
(15,981 |
) |
|
$ |
7,716 |
|
|
Effect of preferred stock and unvested, restricted stock |
|
(138 |
) |
|
|
(147 |
) |
|
|
(566 |
) |
|
|
(685 |
) |
|
Stock-based compensation |
|
832 |
|
|
|
977 |
|
|
|
3,077 |
|
|
|
4,116 |
|
|
Impairment of intangible asset |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
643 |
|
|
Loss (gain) on disposal of assets, net |
|
679 |
|
|
|
(378 |
) |
|
|
706 |
|
|
|
(507 |
) |
|
Cash severance benefits |
|
447 |
|
|
|
(38 |
) |
|
|
447 |
|
|
|
1,160 |
|
|
Contract termination fee |
|
2,100 |
|
|
|
— |
|
|
|
2,100 |
|
|
|
— |
|
|
Gain on remeasurement of previously held equity method investment |
|
(2,852 |
) |
|
|
— |
|
|
|
(2,852 |
) |
|
|
— |
|
|
Tax effect of adjustments at federal and state rates |
|
(332 |
) |
|
|
(154 |
) |
|
|
(957 |
) |
|
|
(1,489 |
) |
|
Adjusted net (loss) income for diluted EPS |
$ |
(7,955 |
) |
|
$ |
(1,599 |
) |
|
$ |
(14,026 |
) |
|
$ |
10,954 |
|
|
|
|
|
|
|
|
|
|
|||||||||
Diluted net (loss) income per common share |
$ |
(0.49 |
) |
|
$ |
(0.11 |
) |
|
$ |
(0.93 |
) |
|
$ |
0.40 |
|
|
Adjusted diluted net (loss) income per common share |
$ |
(0.45 |
) |
|
$ |
(0.09 |
) |
|
$ |
(0.79 |
) |
|
$ |
0.62 |
|
|
|
|
|
|
|
|
|
|
|||||||||
Weighted-average common shares outstanding - diluted |
|
17,871 |
|
|
|
17,760 |
|
|
|
17,834 |
|
|
|
17,715 |
|
|
Adjusted weighted-average common shares outstanding - diluted |
|
17,871 |
|
|
|
17,760 |
|
|
|
17,834 |
|
|
|
17,715 |
|
|
Supplemental Information (in thousands): |
||||||||||||||||||||
|
Agribusiness Segment Information for the Three Months Ended October 31, 2025 |
|||||||||||||||||||
|
Fresh Lemons |
Lemon Packing |
Avocados |
Other Agribusiness |
Total Agribusiness |
|||||||||||||||
Revenues from external customers |
$ |
26,279 |
|
$ |
8,928 |
|
$ |
311 |
|
$ |
5,791 |
|
$ |
41,309 |
|
|||||
Costs and expenses, excluding depreciation and amortization: |
|
|
|
|
|
|||||||||||||||
Labor and benefits |
|
— |
|
|
5,053 |
|
|
— |
|
|
— |
|
|
5,053 |
|
|||||
Packing supplies and fruit treatments |
|
— |
|
|
4,057 |
|
|
— |
|
|
— |
|
|
4,057 |
|
|||||
Harvest costs |
|
2,091 |
|
|
— |
|
|
60 |
|
|
257 |
|
|
2,408 |
|
|||||
Growing costs |
|
2,955 |
|
|
— |
|
|
553 |
|
|
2,318 |
|
|
5,826 |
|
|||||
Third party grower and supplier costs |
|
21,496 |
|
|
— |
|
|
— |
|
|
3,112 |
|
|
24,608 |
|
|||||
Other segment items |
|
— |
|
|
2,830 |
|
|
— |
|
|
414 |
|
|
3,244 |
|
|||||
Total costs and expenses, excluding depreciation and amortization |
|
26,542 |
|
|
11,940 |
|
|
613 |
|
|
6,101 |
|
|
45,196 |
|
|||||
Depreciation and amortization |
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
2,361 |
|
|||||
Operating loss |
$ |
(263 |
) |
$ |
(3,012 |
) |
$ |
(302 |
) |
$ |
(310 |
) |
$ |
(6,248 |
) |
|||||
|
Agribusiness Segment Information for the Three Months Ended October 31, 2024 |
|||||||||||||||||||
|
Fresh Lemons |
Lemon Packing |
Avocados |
Other Agribusiness |
Total Agribusiness |
|||||||||||||||
Revenues from external customers |
$ |
20,075 |
|
$ |
5,373 |
|
$ |
8,869 |
|
$ |
8,161 |
|
$ |
42,478 |
|
|||||
Costs and expenses, excluding depreciation and amortization: |
|
|
|
|
||||||||||||||||
Labor and benefits |
|
— |
|
|
3,410 |
|
|
— |
|
|
— |
|
|
3,410 |
|
|||||
Packing supplies and fruit treatments |
|
— |
|
|
1,428 |
|
|
— |
|
|
— |
|
|
1,428 |
|
|||||
Harvest costs |
|
2,080 |
|
|
— |
|
|
967 |
|
|
397 |
|
|
3,444 |
|
|||||
Growing costs |
|
2,698 |
|
|
— |
|
|
838 |
|
|
4,737 |
|
|
8,273 |
|
|||||
Third party grower and supplier costs |
|
16,845 |
|
|
— |
|
|
— |
|
|
1,809 |
|
|
18,654 |
|
|||||
Other segment items |
|
— |
|
|
2,463 |
|
|
— |
|
|
362 |
|
|
2,825 |
|
|||||
Total costs and expenses, excluding depreciation and amortization |
|
21,623 |
|
|
7,301 |
|
|
1,805 |
|
|
7,305 |
|
|
38,034 |
|
|||||
Depreciation and amortization |
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
1,786 |
|
|||||
Operating income (loss) |
$ |
(1,548 |
) |
$ |
(1,928 |
) |
$ |
7,064 |
|
$ |
856 |
|
$ |
2,658 |
|
|||||
Supplemental Information (continued) (in thousands, except acres and average price amounts): |
||||||||||||||||
Lemons |
Q4 2025 |
Q4 2024 |
|
Lemon Packing |
Q4 2025 |
Q4 2024 |
||||||||||
|
|
|
|
Cartons packed and sold |
|
821 |
|
|
470 |
|
||||||
Acres harvested |
|
1,600 |
|
1,900 |
|
Revenue |
$ |
8,928 |
|
$ |
5,373 |
|
||||
Limoneira cartons sold |
|
355 |
|
186 |
|
Direct costs |
$ |
11,940 |
|
$ |
7,301 |
|
||||
Third-party grower cartons sold |
|
466 |
|
284 |
|
Operating loss |
$ |
(3,012 |
) |
$ |
(1,928 |
) |
||||
Average price per carton |
$ |
23.33 |
$ |
17.95 |
|
|
|
|
||||||||
|
|
|
|
Avocados |
Q4 2025 |
Q4 2024 |
||||||||||
|
|
|
|
Pounds sold |
|
396 |
|
|
4,622 |
|
||||||
Lemon revenue |
$ |
663 |
$ |
876 |
|
Average price per pound |
$ |
0.79 |
|
$ |
1.92 |
|
||||
40-pound carton equivalents |
|
270 |
|
279 |
|
|
|
|
||||||||
|
|
|
|
Other Agribusiness |
Q4 2025 |
Q4 2024 |
||||||||||
Other: |
|
|
|
Orange cartons sold |
|
148 |
|
|
91 |
|
||||||
Packing and handling |
$ |
2,680 |
$ |
1,375 |
|
Average price per carton |
$ |
19.67 |
|
$ |
18.99 |
|
||||
Lemon by-product sales |
$ |
246 |
$ |
92 |
|
Specialty citrus cartons sold |
|
12 |
|
|
8 |
|
||||
Brokered lemons and other lemon sales |
$ |
12,468 |
$ |
14,661 |
|
Average price per carton |
$ |
30.74 |
|
$ |
42.63 |
|
||||
|
|
|
|
Farm management |
$ |
— |
|
$ |
2,916 |
|
||||||
Agribusiness costs and expenses |
Q4 2025 |
Q4 2024 |
|
Other |
$ |
2,502 |
|
$ |
3,176 |
|
||||||
Packing costs |
$ |
11,940 |
$ |
7,301 |
|
|
|
|
||||||||
Harvest costs |
|
2,408 |
|
3,444 |
|
|
|
|
||||||||
Growing costs |
|
5,826 |
|
8,273 |
|
|
|
|
||||||||
Third-party grower and supplier costs |
|
24,608 |
|
18,654 |
|
|
|
|
||||||||
Other costs |
|
414 |
|
362 |
|
|
|
|
||||||||
Depreciation and amortization |
|
2,361 |
|
1,786 |
|
|
|
|
||||||||
Agribusiness costs and expenses |
$ |
47,557 |
$ |
39,820 |
|
|
|
|
||||||||
View source version on businesswire.com: https://www.businesswire.com/news/home/20251223988375/en/
Investors
John Mills
Managing Partner
ICR 646-277-1254
Source: Limoneira Company
