Limoneira Co
NASDAQ:LMNR
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 Decline: Limoneira reported Q4 net revenue of $42.8 million, down slightly from $43.9 million last year, and full-year revenue of $159.7 million, a significant decrease from $191.5 million in fiscal 2024.
Strategic Transformation: The company is executing a major transformation, shifting from commodity lemons to a diversified model focused on avocados, real estate, and asset monetization.
Cost Savings: Management expects $10 million in annual cost savings for fiscal 2026, mainly from operational restructuring and transitioning sales/marketing to Sunkist.
Sunkist Partnership: The new Sunkist partnership is expected to improve customer access, stabilize pricing, and support packing margins, with additional benefits from access to premium retail and foodservice accounts.
Asset Monetization: Limoneira completed the sale of Chilean assets for $15 million and targets $40 million more from further asset sales by end of fiscal 2026. Water rights monetization could yield $50–70 million through 2027.
Avocado Expansion: Production capacity is set to nearly double as 700 nonbearing acres mature between 2027 and 2031, with substantial incremental operating profit anticipated.
Challenging Quarter: Q4 saw a larger net loss ($8.8 million vs $2 million last year), driven by $6.7 million in one-time transformation costs and lower avocado revenues due to agriculture cycles.
Improved Liquidity: The company renegotiated banking covenants, securing access to its $115 million credit facility with $41.6 million available at year-end.
