LMNR News & Events

The Company continues to expect fresh lemon volumes to be in the range of 4.0 million to 4.5 million cartons for fiscal year 2026. The Company continues to expect avocado volumes to be in the range of 5.0 million to 6.0 million pounds for fiscal year 2026. The Company expects to receive total proceeds of approximately $180 million from Harvest, LLCB II, LLC and East Area II spread out over seven fiscal years, of which $10 million was received in fiscal year 2025 and $15 million was received in fiscal year 2024.

Reports Q1 revenue $18.2M, consensus $16.05M. Harold Edwards, President and Chief Executive Officer of the Company, stated, "Our first quarter results reflect the strategic transformation we are executing to position Limoneira for sustainable, long term value creation. While the cadence of lemon sales will shift due to our return to Sunkist, with the first and second quarters expected to have lower sales and the third and fourth quarters higher, we're pleased that fresh utilization improved in the first quarter and we remain on track with our volume guidance for both lemons and avocados in fiscal 2026. While we experienced $2.5 million of specific expenses in the quarter, including packinghouse repairs recovered from insurance proceeds received in the second quarter and expenses related to the sale of our Chilean farms, the operational improvements we implemented are already delivering results, with operating costs down 27% versus the prior year period. Our decision to partner with Sunkist remains on track to achieve our goal of approximately $10 million in selling, general and administrative savings for fiscal 2026."

Limoneira " announced that Mark Palamountain will step down from his role as Chief Financial Officer to pursue interests outside of the Company. Greg Hamm, who has served as Corporate Controller since 2004 and as Vice President and Corporate Controller since 2008, will succeed Palamountain as Chief Financial Officer. The effective date of Palamountain's departure and Hamm's appointment has not been determined and Palamountain will remain available to Limoneira in an advisory capacity following his departure to assist with ongoing initiatives and support the leadership transition."