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Founded in 1893, Limoneira Co (symbol: LMNR) stands as a historic agribusiness leader in the United States, specializing in the production and distribution of lemons and avocados. As the largest provider of these fruits in the country, Limoneira’s influence extends beyond agriculture into community development and lifestyle products.
Limoneira’s operations are divided into several segments: Fresh Lemons, Lemon Packing, Avocados, and Other Agribusiness. The Fresh Lemons segment is the company’s revenue powerhouse, reflecting its market dominance. Limoneira distributes its produce nationally, ensuring high-quality fruits reach consumers across the United States.
A notable achievement in the company's illustrious history is its role in founding Sunkist Growers and Diamond Walnut Growers, two agricultural cooperatives that have left a lasting impact on the industry.
Beyond agriculture, Limoneira is actively involved in community building. The Santa Paula East Area I project is a 500-acre development set to transform the region with a mix of residential units, senior living accommodations, new schools, retail spaces, and light industrial businesses. This ambitious project underlines Limoneira’s commitment to fostering sustainable communities.
Under the Limoneira Lifestyles brand, the company offers a range of products that resonate with consumers seeking quality and authenticity. These products are available throughout the U.S., showcasing Limoneira’s dedication to expanding its reach and influence.
Financially, Limoneira remains robust, with its diversified segments contributing to a stable revenue stream. The company’s strategic partnerships and ongoing projects position it well for future growth.
For the latest news and updates on Limoneira Co’s performance, events, and developments, StockTitan provides comprehensive and timely information, ensuring investors and stakeholders have access to the most current data.
Limoneira Company (Nasdaq: LMNR) announced its second quarter fiscal year 2024 results, highlighting significant milestones in real estate and agribusiness. The company closed Phase 2 of its Harvest at Limoneira real estate venture, adding 554 homesites. The Santa Paula City Council approved an additional 550 lots for the project, raising expected future proceeds by 46% to $180 million over seven years. For Q2 2024, Limoneira reported total net revenue of $44.6 million, down from $48.1 million in Q2 2023. Agribusiness revenue was $43.3 million, with fresh lemon sales at $25.8 million. Despite an operating loss of $4.7 million, net income was $6.4 million, or $0.35 per diluted share. Non-GAAP adjusted EBITDA more than doubled to $16.6 million. Limoneira increased its avocado volume guidance for FY 2024 and plans to expand avocado plantings by 1,000 acres over three years.
Limoneira (Nasdaq: LMNR), a diversified citrus company, will announce its second quarter financial results for the period ending April 30, 2024, on June 6, 2024, after market close. The company will also host a conference call at 1:30 pm PT (4:30 pm ET) on the same day to discuss the results. Investors can join the live call by dialing specific phone numbers provided for U.S. and international callers, and a replay will be available until June 20, 2024. A live webcast will also be accessible on Limoneira's Investor Relations website, with an archive available for 30 days.
Limoneira Company, in a joint venture with The Lewis Group of Companies, received approval for an additional 550 dwelling units in the Harvest at Limoneira development project, increasing the total entitled lots by 37% from 1,500 to 2,050. This expansion includes 250 single-family homesites and 300 rental homes. The project has gained support from the Santa Paula City Council, highlighting the value it brings to the community.
Limoneira Company, in partnership with The Lewis Group of Companies, has closed the sale of 554 residential homesites to Lennar, completing Phase 2 at Harvest at Limoneira master planned community in Santa Paula. This brings the total residential homesite sales to 1,261. The Foothill Neighborhood features seven lot types, with home sizes ranging from 1,500 to 3,500 square feet, including some with views of the Pacific Ocean.
Lennar has purchased a total of 867 single-family homesites at Harvest, solidifying its commitment to the project. Limoneira expects to provide updates on profitability and cash receipts from this transaction in fiscal year 2024.
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