Welcome to our dedicated page for Limoneira Co news (Ticker: LMNR), a resource for investors and traders seeking the latest updates and insights on Limoneira Co stock.
Limoneira Co (NASDAQ: LMNR) generates a steady flow of news as an international agribusiness focused on citrus and avocado production, lemon packing and real estate development. Company announcements describe Limoneira as a 132-year-old integrated agribusiness headquartered in Santa Paula, California, with agricultural lands, real estate properties and water rights in California, Arizona, Chile and Argentina. News coverage of LMNR often centers on how these assets support its strategy of growing agriculture income and monetizing land and water holdings.
Investors following Limoneira’s news can expect regular earnings releases that detail agribusiness performance, including fresh packed lemon sales, brokered lemon and other lemon revenue, avocado volumes and pricing, orange revenue and specialty citrus, wine grape and other agribusiness results. These reports also discuss operating income or loss, non-GAAP metrics and segment trends, providing insight into how crop yields, pricing and costs affect overall results.
Beyond quarterly and annual results, Limoneira issues news about strategic initiatives such as expanding avocado production, transitioning fresh citrus sales and marketing to Sunkist Growers, Inc., and streamlining operations. Press releases also highlight real estate developments like Harvest at Limoneira, including lot sales, phase completions and increased residential entitlements, as well as plans to explore housing development on the Limco Del Mar Ranch to address regional housing needs.
Additional news items cover land and water transactions, including sales of non-strategic land assets and water pumping rights, and the sale of Chilean ranches while retaining a stake in a Chilean citrus packing and marketing business. Dividend declarations, lending agreements and modifications, and governance or compensation updates disclosed via Form 8-K are also reflected in Limoneira’s news flow. For a comprehensive view of LMNR, readers can use this news page to track how operational performance, asset monetization and financing decisions evolve over time.
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.
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