LMNR
Limoneira Company15.10
+0.03+0.2%
Dec 16, 4:00:00 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q1 '26
Pricing color, water progress surface
Q&A largely reaffirmed the Sunkist-driven transformation and $10M SG&A savings, adding color on ramps and markets. Management noted non-linear savings after Q1 lingering costs, steady thereafter without acceleration. Mexico's avocado flood—75M lbs weekly shipments—crushed prices to $1.00/lb for size 48s, yet California enjoyed idyllic weather with 25 inches rain for strong 2027 setup. Lemons hit $16/carton trough in February, but higher fresh utilization lifted volumes despite mix drag. Colorado River water rights gain value from cut talks; near-term programs expected by Q2 end. Confident outlook holds. Watch water deals.
Key Stats
Market Cap
272.53MP/E (TTM)
-Basic EPS (TTM)
-0.54Dividend Yield
0.02%Recent Filings
10-Q
Q1 FY2026 results
Limoneira's Q1 FY2026 agribusiness revenues fell 49% y/y to $16.8M, driven by the Sunkist shift deferring lemon volume to later quarters and the November 2025 Chilean orchard sale for $15.0M (notes receivable of $13.9M). Operating loss widened to $10.6M from $5.3M, with net loss at $9.3M or $(0.53) per diluted share (17.9M shares); the gap from operating loss stemmed from $1.0M foreign exchange losses and higher interest. Cash dipped to $1.3M amid $11.7M operating outflow, offset by $17.5M net debt draws under the $115M AgWest facility ($89.9M drawn, $24.1M available; covenants deferred). Sold Chile assets cleanly. Volumes lag seasonality.
8-K
Q1 revenues down, costs cut 27%
Limoneira reported Q1 FY2026 results with revenues dropping to $18.2M from $34.3M, yet costs plunged 27% to $28.8M on Sunkist transition efficiencies. Operating loss widened to $10.6M amid sales cadence shift and one-offs like $2.5M expenses. Reiterates FY2026 lemon (4.0-4.5M cartons) and avocado (5.0-6.0M lbs) volume guidance. Costs slashed sharply.
8-K
Hires Palamountain as consultant
Limoneira signed a consulting agreement with Mark Palamountain on February 12, 2026, for strategic, financial, and transactional advisory services starting February 16 for three months. He earns $18,750 monthly in arrears, plus up to $200,000 discretionary bonus for hitting Board-set goals. Either side can terminate with 30 days' notice. Short-term expertise boost, yet flexible exit.
8-K
New exec profit-sharing deals
Limoneira terminated prior retention bonuses and inked new Transaction Incentive Agreements effective February 1, 2026, for CEO Harold Edwards (5% of profits, capped at $2M annual/$5M total) and prospective CFO Gregory Hamm (3%, $1.2M/$3M). Tied to land/water asset sales or development earnings through October 31, 2031, half cash, half restricted shares vesting in one year. Aligns execs with asset-light shift. Bonuses need committee approval.
8-K
CFO succession announced
Limoneira announced CFO Mark Palamountain's resignation on January 22, 2026, effective date pending, with VP Corporate Controller Gregory C. Hamm, 64, appointed as successor. Hamm, with Limoneira since 2004, gets $350,000 base salary and aligned transaction bonuses up to $3.15M at $40/share. Smooth transition planned. Palamountain stays advisory.
IPO
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