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Limoneira Co (LMNR)
NASDAQ:LMNR
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Earnings Data
Report Date
Dec 23, 2024After Close Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
-$0.07Last Year’s EPS
-$0.15Same Quarter Last Year
Based on 0 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Sep 09, 2024
|% Change Since: 9.47%
|Next Earnings Date:Dec 23, 2024
Earnings Call Sentiment|Positive
The earnings call highlighted strong revenue growth, particularly in the avocado segment, and successful debt reduction and real estate ventures. However, challenges such as lower specialty citrus revenue and reduced lemon volume guidance were noted. The positive aspects significantly outweighed the negative, indicating strong financial and operational performance.Company Guidance
During the Limoneira Q3 2024 earnings call, the company provided optimistic guidance fueled by substantial growth metrics. Notably, Limoneira reported a 21% increase in net revenue, reaching $63.3 million for the quarter, and generated $13.8 million in adjusted EBITDA compared to $2.8 million the previous year. The company also revised its avocado volume guidance upwards by over 50%, projecting 14.5 to 15.5 million pounds for fiscal year 2024. Additionally, Limoneira achieved significant milestones in its real estate development, Harvest at Limoneira, with the sale of 554 residential units and a 37% increase in planned dwelling units. The company's strong financial performance and strategic expansion in avocado production and real estate development underpin its confidence in robust EBITDA growth moving forward.Significant Revenue Growth
Total net revenue increased by 21% to $63.3 million for the third quarter of fiscal year 2024 compared to $52.5 million in the same quarter of the previous year.
Record Avocado Performance
Avocado revenue increased from $3.5 million in Q3 2023 to $13.9 million in Q3 2024, with volume increasing from 2.8 million pounds to 8.9 million pounds.
Reduction in Long-Term Debt
Long-term debt was reduced by 33%, resulting in a net debt position of $39.6 million at the end of Q3 2024.
Successful Real Estate Development
Joint venture Harvest at Limoneira closed on lot sales representing 554 residential units and increased the total number of residential units for the project from 1,500 to 2,050 units.
Improved Balance Sheet and Liquidity
Adjusted EBITDA increased to $13.8 million from $2.8 million in the same period last year, demonstrating strong financial performance.
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LMNR Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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LMNR Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Sep 09, 2024 | $24.93 | $24.18 | -3.01% |
| Jun 06, 2024 | $20.23 | $21.12 | +4.40% |
| Mar 07, 2024 | $17.99 | $18.40 | +2.28% |
| Dec 21, 2023 | $18.92 | $20.22 | +6.87% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Limoneira Co (LMNR) report earnings?
Limoneira Co (LMNR) is schdueled to report earning on Dec 23, 2024, After Close Not Confirmed.
What is Limoneira Co (LMNR) earnings time?
Limoneira Co (LMNR) earnings time is at Dec 23, 2024, After Close Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is LMNR EPS forecast?
LMNR EPS forecast for the fiscal quarter 2024 (Q4) is -$0.07.
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