Limoneira Co Stock Price, News & Analysis

On June 25, 2024, Limoneira (Nasdaq: LMNR) announced a quarterly cash dividend of $0.075 per common share. This dividend is payable on July 19, 2024, to shareholders recorded by July 8, 2024. As a diversified citrus company involved in growing, packing, selling, and related agribusiness activities, Limoneira continues its tradition of providing regular dividends to its investors, reflecting ongoing financial health and shareholder value commitment.

Limoneira Company (Nasdaq: LMNR) announced its second quarter fiscal year 2024 results, highlighting significant milestones in real estate and agribusiness. The company closed Phase 2 of its Harvest at Limoneira real estate venture, adding 554 homesites. The Santa Paula City Council approved an additional 550 lots for the project, raising expected future proceeds by 46% to $180 million over seven years. For Q2 2024, Limoneira reported total net revenue of $44.6 million, down from $48.1 million in Q2 2023. Agribusiness revenue was $43.3 million, with fresh lemon sales at $25.8 million. Despite an operating loss of $4.7 million, net income was $6.4 million, or $0.35 per diluted share. Non-GAAP adjusted EBITDA more than doubled to $16.6 million. Limoneira increased its avocado volume guidance for FY 2024 and plans to expand avocado plantings by 1,000 acres over three years.

Limoneira (Nasdaq: LMNR), a diversified citrus company, will announce its second quarter financial results for the period ending April 30, 2024, on June 6, 2024, after market close. The company will also host a conference call at 1:30 pm PT (4:30 pm ET) on the same day to discuss the results. Investors can join the live call by dialing specific phone numbers provided for U.S. and international callers, and a replay will be available until June 20, 2024. A live webcast will also be accessible on Limoneira's Investor Relations website, with an archive available for 30 days.

Limoneira Company, in a joint venture with The Lewis Group of Companies, received approval for an additional 550 dwelling units in the Harvest at Limoneira development project, increasing the total entitled lots by 37% from 1,500 to 2,050. This expansion includes 250 single-family homesites and 300 rental homes. The project has gained support from the Santa Paula City Council, highlighting the value it brings to the community.

Limoneira Company, in partnership with The Lewis Group of Companies, has closed the sale of 554 residential homesites to Lennar, completing Phase 2 at Harvest at Limoneira master planned community in Santa Paula. This brings the total residential homesite sales to 1,261. The Foothill Neighborhood features seven lot types, with home sizes ranging from 1,500 to 3,500 square feet, including some with views of the Pacific Ocean.

Lennar has purchased a total of 867 single-family homesites at Harvest, solidifying its commitment to the project. Limoneira expects to provide updates on profitability and cash receipts from this transaction in fiscal year 2024.