Limoneira Co Stock Price, News & Analysis

Limoneira Company (Nasdaq: LMNR) announced the completion of Phase 1 of its joint venture with The Lewis Group of Companies, closing 30 additional residential homesites with K. Hovnanian Homes, totaling 586 residential units sold. This follows 232 units sold in fiscal 2021. The Harvest at Limoneira project, located in Southern California, boasts scenic views and is attracting strong interest from buyers. Limoneira continues to grow as a diversified agribusiness with significant real estate development operations.

On September 28, 2021, Limoneira Company (NASDAQ: LMNR) declared a quarterly cash dividend of $0.075 per common share. This dividend is payable on October 22, 2021, to stockholders of record on October 11, 2021. Limoneira, a longstanding agribusiness based in Santa Paula, California, specializes in citrus production and holds extensive agricultural assets across California, Arizona, Chile, and Argentina. The company emphasizes sustainability and has a diversified portfolio in agriculture and real estate.

Limoneira Company (LMNR) announced a share repurchase program worth $10 million, which reflects the Board of Directors' confidence in the company's future growth. The buyback is aimed at maximizing shareholder value and will be executed through various methods until September 2022, depending on market conditions. CEO Harold Edwards emphasized the commitment to strategically deploy capital and enhance shareholder value. Limoneira, a leader in citrus production, continues to pursue sustainable practices across its extensive agricultural lands.

Limoneira Company (Nasdaq: LMNR) has signed a Memorandum of Understanding with Wileman Bros. & Elliott, Inc. to collaborate on their citrus sales under the One World of Citrus Alliance program. This partnership combines citrus volumes and expertise, aiming to enhance grower returns and service levels. Limoneira will continue to supply oranges and specialty citrus, while Wileman Bros. will manage packing and shipping. Both companies will maintain their brands, and a unified invoicing system will simplify transactions.

Limoneira Company (Nasdaq: LMNR) reported strong financial results for Q3 FY 2021, with operating income up 86% year-over-year, reaching $3.4 million. Total revenues were $49.1 million, down from $53.6 million in Q3 FY 2020, impacted by reduced avocado sales due to drought. Fresh lemon sales contributed $24.4 million, while avocado revenue fell to $4.1 million. The company is optimistic about future growth, supported by a digital transformation plan and real estate project expected to generate $80 million in cash distributions over six years, starting FY 2022.

SANTA PAULA, Calif.--(BUSINESS WIRE)--Limoneira Company (Nasdaq: LMNR) announced that CEO Harold Edwards and CFO Mark Palamountain will participate in Lake Street Capital Markets' 5th Annual Best Ideas Growth (BIG5) Conference on September 14, 2021. Management will hold virtual one-on-one meetings throughout the day for interested parties.

Limoneira, a 128-year-old agribusiness based in California, specializes in lemons, avocados, oranges, and specialty citrus across 15,400 acres in multiple countries.

Limoneira Company reported preliminary financial results for Q3 FY 2021, revealing net revenue of approximately $49.0 million, down from $53.6 million last year. The company faced challenges due to reduced avocado sizing from drought effects, while lemon sales increased, leading to an expected operating income growth of 80%. Earnings per share are projected between $0.18 and $0.23, up from $0.12 in the previous year. The company anticipates $80 million from its real estate project over six years starting FY 2022.

Limoneira Company (Nasdaq: LMNR) has announced a non-binding letter of intent to sell 25.28 acres of its 32-acre property, known as “East Area 2,” to Pacific Coast Investments, Inc. The sale will occur in five stages and is contingent on executing a purchase agreement and securing leases necessary for financing. The transaction could enhance Limoneira's expected cash flow by $80 million from its Harvest at Limoneira development project, fostering a medical campus that will serve Ventura County. CEO Harold Edwards highlighted the strategic benefits of this deal for the community.

On June 22, 2021, Limoneira Company (Nasdaq: LMNR) announced a quarterly cash dividend of $0.075 per common share, set to be paid on July 16, 2021, to stockholders on record by July 6, 2021. Limoneira, a 128-year-old agribusiness headquartered in California, focuses on sustainable practices across its 15,400 acres of agricultural land and properties in California, Arizona, Chile, and Argentina. The company is recognized for its production of lemons, avocados, and various citrus fruits, contributing to its position as a leading integrated agribusiness worldwide.