Welcome to our dedicated page for Limoneira news (Ticker: LMNR), a resource for investors and traders seeking the latest updates and insights on Limoneira stock.
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 September 27, 2022, Limoneira Company (NASDAQ: LMNR) announced a quarterly cash dividend of $0.075 per common share. This dividend will be payable on October 21, 2022, to stockholders of record as of October 10, 2022. Limoneira, a prominent agribusiness with 15,400 acres of agricultural land and operations in California, Arizona, Chile, and Argentina, is recognized for its sustainability efforts and production of lemons, avocados, oranges, and specialty citrus.
Limoneira Company (LMNR) reported a 20% increase in revenue to $58.9 million for Q3 FY2022, driven by record avocado sales of $12.6 million and fresh lemon sales growth. Operating income surged over 200% to $11.1 million, while earnings per share doubled to $0.40. The company anticipates $8 million from property sales in Q4 FY2022 and expects fresh lemon volumes between 4.5 million to 5 million cartons for the fiscal year. Adjusted EBITDA was $14.2 million.
Limoneira Company (Nasdaq: LMNR) announced it will release its third-quarter financial results for the period ending July 31, 2022 on September 8, 2022, after market close. A conference call is scheduled for 1:30 pm Pacific Time to discuss the results, with details for participation provided. The Company has a long history as a leading integrated agribusiness, focusing on sustainability and managing significant agricultural lands across multiple regions.
The Board of Directors of Limoneira Company (NASDAQ: LMNR) has announced significant changes. Scott Slater takes over as Chairperson, succeeding Gordon Kimball, who is stepping down due to health reasons but will remain as a director. Amy Fukutomi resigns as a director effective August 1, 2022, to serve as Vice President of Compliance and Corporate Secretary. The board size decreases from ten to nine directors. Slater emphasizes the commitment to enhancing corporate governance and unlocking value through a strategic plan for the company’s diverse assets.
On June 28, 2022, Limoneira Company (NASDAQ: LMNR) declared a quarterly cash dividend of $0.075 per common share. The dividend is payable on July 15, 2022, to stockholders of record on July 11, 2022. With a rich history spanning 129 years, Limoneira operates across 15,400 acres of agricultural lands in California, Arizona, Chile, and Argentina, focusing on sustainability. The company is a prominent producer of lemons, avocados, and other specialty crops, showcasing its commitment to agribusiness excellence.
Limoneira Company (NASDAQ: LMNR) announced the resignation of Board member Jesus “Chuy” Loza effective June 14, 2022. Loza is stepping down to focus on his role as CEO of Freska Produce. The Chairman of the Board, Gordon Kimball, expressed gratitude for Loza's contributions, especially during the pandemic. Limoneira is dedicated to maintaining a qualified and diverse Board to advance its strategic initiatives. The company is a significant player in the agribusiness sector, specializing in citrus production and related operations across multiple states and countries.
Limoneira Company (LMNR) reported a 4% revenue growth for Q2 FY 2022, totaling $46.8 million, driven by strong avocado and orange sales. Avocado pricing surged over 50% year-over-year. However, the company faced rising costs in labor and packing. Net income for Q2 was $1.4 million, down from $1.8 million in the previous year, with losses increasing in the first half. The company plans to expand its One World of Citrus initiative and monetize assets to improve cash flow. A fallowing program in Yuma is projected to save 1.3 billion gallons of water, boosting operating results by $1 million.
Limoneira has engaged in a two-year fallowing program with the Yuma Mesa Irrigation and Drainage District, targeting about 400 of its 1,300 acres in Yuma, Arizona. This initiative aims to conserve over 1.3 billion gallons of water annually and is expected to boost operating results by approximately $1.0 million. With this program, Limoneira aims to enhance efficiency and sustainability in water management while converting previously unprofitable land into productive assets. The fallowing program aligns with efforts to mitigate water shortages in the Lower Colorado River Basin.
Limoneira Company (Nasdaq: LMNR) announced that CEO Harold Edwards and CFO Mark Palamountain will present at the Stifel 2022 Cross Sector Insight Conference in Boston, MA, from June 7-9, 2022. Their investor presentation is scheduled for June 8, 2022, at 8:35 am ET, and will be available for live webcast and later archived on their website. Limoneira, based in Santa Paula, California, is a leading agribusiness with a focus on sustainability, operating over 15,400 acres across California, Arizona, Chile, and Argentina.
Limoneira Company (NASDAQ: LMNR) announced it will release its Q2 financial results on June 7, 2022, after market close. A conference call will be held the same day at 1:30 PM PT to discuss these results. Investors can join via phone or through a live webcast available on the company's website, which will be archived for 30 days.
Founded 129 years ago, Limoneira is a leading agribusiness in citrus production and operates across California, Arizona, Chile, and Argentina, managing over 15,400 acres of agricultural land.