Limoneira reports Q4 EPS (9c), consensus (7c)

Reports Q4 revenue $43.9M, consensus $42.45M.Harold Edwards, President and Chief Executive Officer of the Company, stated, “Our achievement of solid lemon revenue and record avocado production, reaching 15.1 million pounds of avocados sold in 2024, demonstrates the inherent strength of our agricultural platform and validates our strategic focus on this high-value segment. The exceptional performance in avocados reinforces our strategic decision to expand our avocado production by 1,000 acres through fiscal year 2027, a transformation that is expected to drive significant EBITDA growth. In addition, our lemon offering is achieving increased penetration in the foodservice and quick service restaurant channels, and we expect more meaningful market penetration in fiscal 2025. We anticipate that further growth will come from enhanced sourcing of third-party lemons, alongside the significant monetization potential of our water and real estate assets. Our compelling portfolio of agricultural and real estate assets, together with our valuable water resources and strong balance sheet, create multiple pathways intended to build lasting shareholder value.” Edwards continued, “Our Harvest at Limoneira (LMNR) residential real estate joint venture with the Lewis Group of Companies (“Lewis”) continues to perform very well and we also anticipate meaningful water monetization transactions in fiscal year 2025. In addition, we continue to explore strategic alternatives for our assets and are very pleased with the interest. We remain committed to thoroughly exploring all options to maximize stockholder value and will provide updates if the board of directors finds that further disclosure is necessary or advisable.”