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Limoneira Reports Record Revenue Growth in 2024
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Limoneira Reports Record Revenue Growth in 2024

Limoneira ( (LMNR) ) has released its Q4 earnings. Here is a breakdown of the information Limoneira presented to its investors.

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Limoneira Company is a diversified agribusiness primarily involved in citrus growing, packing, selling, and marketing, with additional operations in real estate development. In its fiscal year 2024, Limoneira reported a 6% increase in net revenues, reaching a record $191.5 million. This growth was driven largely by record avocado sales. The company also achieved year-over-year pricing improvements in its fresh lemon and avocado segments.

Key financials reveal that Limoneira’s agribusiness revenue increased during the fourth quarter, although fresh packed lemon sales declined compared to the previous year. A significant highlight was the $8.9 million in avocado revenue, marking a substantial contribution to the company’s overall performance. Limoneira also reported a net loss of $2.0 million for the fourth quarter, an improvement from the $3.6 million loss in the previous year, highlighting cost management efforts.

Strategically, Limoneira is focusing on expanding its avocado production by 1,000 acres by 2027, aiming to capitalize on high consumer demand. The company is also making progress in exploring strategic alternatives to maximize stockholder value, including potential real estate monetization and increased market penetration for its lemon products in fiscal 2025.

Looking ahead, Limoneira remains optimistic about its growth trajectory, expecting continued improvements in its EBITDA driven by expanded avocado production and enhanced sourcing of third-party lemons. The company is also poised to leverage its real estate assets for additional monetization opportunities, which could further bolster shareholder value.

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