Limoneira Company reports developments across a diversified agribusiness built around lemon and avocado growing, lemon packing, related crop marketing, and real estate development operations. News commonly covers quarterly and annual results, lemon and avocado volume guidance, cost and operating initiatives, dividend actions, and the company’s use of agricultural land, water assets, and non-strategic real estate.
Company updates also include avocado acreage expansion, lemon packing partnerships, the Agromin-Limoneira organics recycling joint venture, housing-related real estate activity, and governance or finance leadership matters. These recurring items connect Limoneira’s crop production and packing economics with asset monetization and capital allocation decisions.
On March 22, 2021, Limoneira Company (Nasdaq: LMNR) announced a quarterly cash dividend of $0.075 per share, payable on April 16, 2021. Shareholders on record by April 5, 2021 will receive this dividend, reflecting the company's commitment to providing income to its investors. Limoneira, based in California, operates over 15,400 acres in agricultural and real estate, specializing in a variety of crops including lemons and avocados.
Limoneira Company (LMNR) reported its fiscal 2021 first-quarter results, showing total revenue of $38.3 million, down from $41.7 million year-over-year. Agribusiness revenue decreased to $37.1 million from $40.5 million, primarily due to COVID-19 impacts on food service demand. Fresh lemon sales were $25 million, down from $27 million. Operating loss improved to $5.6 million from $8.5 million, while net loss reduced to $4.3 million, or $0.25 per diluted share. The company anticipates $80 million in cash distributions from real estate projects starting in fiscal 2022.
Limoneira Company (Nasdaq: LMNR) announced it will release its financial results for the first quarter ended January 31, 2021, on March 10, 2021, after market close. The Company will host a conference call to discuss these results at 1:30 PM Pacific Time (4:30 PM Eastern Time) on the same day. Interested investors can participate via phone or listen to a live webcast on the Company’s website. Limoneira is a significant global agribusiness, producing lemons, avocados, and other crops across 15,400 acres in various countries.
Limoneira Company (Nasdaq: LMNR) has appointed Debra Walker as the new Director of Human Resources, effective February 5, 2021. Walker, who previously served as General Manager of Marlin Packing Company, joined Limoneira in 2014 after its acquisition of Marlin. She takes over from Kathleen Thompson, who has retired after 23 years with the company. Limoneira, based in Santa Paula, California, operates on 15,400 acres across multiple countries and is a leading producer of lemons, avocados, and other crops.
Limoneira Company (Nasdaq:LMNR) reported financial results for Q4 and FY 2020, showcasing record lemon volume despite a decline in revenue. Q4 net revenue decreased to $29.8M from $36.5M YOY, attributed to lower demand from food services due to COVID-19. Operating loss was $9.5M, worsening from a $3.6M loss year-over-year. For FY 2020, total revenue was $164.6M, a drop from $171.4M in FY 2019. Net loss applicable to common stock rose to $16.9M, up from $6.4M. Despite challenges, the real estate segment is projected to generate $80M in cash distributions beginning FY 2022.
Limoneira Company (Nasdaq: LMNR) has announced key organizational changes in its marketing department. John Chamberlain, the Vice President of Marketing for over 15 years, retired on December 30, 2020. Michael Gonzales, a marketing manager with a decade of experience at Limoneira, will take over as head of marketing starting January 1, 2021. The company also welcomed Rachel Ertman as the new Marketing Coordinator. Limoneira, headquartered in California, specializes in citrus and other agricultural products across several countries.
Limoneira Company (Nasdaq: LMNR) announced its participation in the 23rd Annual ICR Conference, scheduled from January 11-14, 2021. Harold Edwards, CEO, and Mark Palamountain, CFO, will present on January 12, 2021, at 10:30 am ET. The presentation will be available via a live webcast on Limoneira's website. Established over 126 years ago, Limoneira is a major agribusiness with operations in California, Arizona, Chile, and Argentina, focusing on sustainability and a wide range of agricultural products, including lemons and avocados.
Limoneira Company (Nasdaq: LMNR) announced it will release its financial results for Q4 and the full fiscal year ending October 31, 2020, on January 11, 2021, after market close. A conference call will follow at 1:30 PM PT (4:30 PM ET) to discuss these results. Interested investors can join via U.S. dial-in (877) 705-6003 or international line (201) 493-6725. A webcast of the call will be available on Limoneira's Investor Relations page, archived for 30 days. Limoneira operates across 15,400 acres in various countries, focusing on sustainable agriculture and diverse crop production.
Limoneira Company (Nasdaq: LMNR) has announced the closing of an additional 44 residential lots in its joint venture with The Lewis Group and expects to finalize 32 more with Lennar (NYSE: LEN) by the end of June 2021. To date, Lennar has acquired a total of 231 residential units at the Harvest at Limoneira project, which aims to provide a comprehensive community experience. Limoneira's previous fiscal year saw 187 residential units closed, with a forecast of an additional 76 units for fiscal 2021, bringing the total to 263.
On December 15, 2020, Limoneira Company (Nasdaq: LMNR) declared a quarterly cash dividend of $0.075 per common share, payable on January 15, 2021. Stockholders of record by December 28, 2020 will receive this dividend, reflecting the company's ongoing commitment to returning value to its shareholders. Limoneira, headquartered in Santa Paula, California, is known for its sustainability practices and diverse agribusiness operations, covering 15,400 acres across regions in the US and South America.