Limoneira Co
NASDAQ:LMNR
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Limoneira Co
NASDAQ:LMNR
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US |
Limoneira Co
Limoneira Co. is an agribusiness and real estate development company, which engages in the innovation of agricultural citrus industry in California. The company is headquartered in Santa Paula, California and currently employs 268 full-time employees. The company went IPO on 2001-11-08. The firm is engaged primarily in growing citrus and avocados, picking, and hauling citrus, and packing, marketing, and selling citrus. The firm has three business divisions, such as agribusiness, rental operations, and real estate development. The agribusiness division is comprised of four segments: fresh lemons, lemon packing, avocados, and other agribusiness, which includes oranges, specialty citrus and other crops. The agribusiness division includes its core operations of farming, harvesting, lemon packing and lemon sales operations. The rental operations division includes its residential and commercial rentals, leased land operations and organic recycling. The real estate development division includes its investments in real estate development projects. The company markets and sells citrus directly to food service, wholesale, and retail customers throughout the United States, Canada, Asia, Europe, and other international markets.
Limoneira Co. is an agribusiness and real estate development company, which engages in the innovation of agricultural citrus industry in California. The company is headquartered in Santa Paula, California and currently employs 268 full-time employees. The company went IPO on 2001-11-08. The firm is engaged primarily in growing citrus and avocados, picking, and hauling citrus, and packing, marketing, and selling citrus. The firm has three business divisions, such as agribusiness, rental operations, and real estate development. The agribusiness division is comprised of four segments: fresh lemons, lemon packing, avocados, and other agribusiness, which includes oranges, specialty citrus and other crops. The agribusiness division includes its core operations of farming, harvesting, lemon packing and lemon sales operations. The rental operations division includes its residential and commercial rentals, leased land operations and organic recycling. The real estate development division includes its investments in real estate development projects. The company markets and sells citrus directly to food service, wholesale, and retail customers throughout the United States, Canada, Asia, Europe, and other international markets.
Revenue drop: Total net revenues were $18.2 million in Q1 FY2026, down from $34.3 million a year ago, driven by the transition of lemon sales/marketing to Sunkist and exiting brokerage/farm management.
Seasonal cadence: The Sunkist partnership shifts the company's seasonal rhythm—Q1 and Q2 are now softer, Q3 and Q4 will be the strongest quarters.
Costs and one-offs: Q1 included $2.5 million of specific expenses (packinghouse repairs $1.0M, Chile closure $0.5M, and FX on Chile receivables $1.0M); insurance recoveries of $1.4M are expected in Q2.
Profitability: GAAP net loss applicable to common stock was $9.6 million, or $0.53 per diluted share, versus a $3.2 million loss ($0.18) in the year-ago quarter.
SG&A savings: Management expects approximately $10 million of annual SG&A savings in FY2026 from the Sunkist transition (visible through the year, with run-rate benefits increasing after Q1).
Operational outlook: Management reaffirmed FY2026 volume guidance of 4.0–4.5 million cartons of fresh lemons and 5–6 million pounds of avocados; avocado production capacity will roughly double as nonbearing acres mature.
Balance sheet & liquidity: Long-term debt stood at $89.9 million; net debt was $88.6 million with $1.3 million cash on hand at quarter end.
Asset monetization: Company is advancing real estate projects (Harvest proceeds targeted at $155 million over 5 years), water-rights monetization (Santa Paula and Class 3 Colorado River rights), and sale of Windfall Farms and Argentina assets.
