Limoneira (NASDAQ:LMNR) Issues Quarterly Earnings Results, Misses Expectations By $0.17 EPS

Limoneira (NASDAQ:LMNR) released its quarterly earnings results on Wednesday. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.17), FiscalAI reports. Limoneira had a negative net margin of 30.50% and a negative return on equity of 13.94%. The firm had revenue of $43.81 million during the quarter, compared to the consensus estimate of $49.62 million.

Here are the key takeaways from Limoneira’s conference call:

• Negative Sentiment: Limoneira lowered its fiscal 2026 lemon volume outlook to 4.0–4.25 million cartons, citing an unexpected oversupply of Argentine lemons diverted to the U.S. market, which pressured both sales volumes and pricing.
• Positive Sentiment: Avocado performance exceeded expectations: nine-month volume reached 7.3 million pounds, prompting the company to raise its fiscal 2026 outlook to 7.0–7.25 million pounds and project more than 10 million pounds in fiscal 2027.
• Positive Sentiment: Third-quarter adjusted EBITDA increased to $3.9 million from $3.0 million year over year, while adjusted earnings improved to $0.02 per diluted share from an adjusted loss of $0.02, supported by stronger avocado volume and lower SG&A.
• Negative Sentiment: GAAP results remained weak, with revenue declining to $43.8 million from $47.5 million and net loss widening to $3.0 million, or $0.17 per diluted share, from $1.0 million, or $0.06 per share.
• Positive Sentiment: Management expects to close the $15 million Windfall Farms sale in September and pursue additional water-rights and real-estate monetizations, using proceeds to reduce debt and fund avocado expansion; however, long-term value realization remains dependent on transactions closing as planned.

Limoneira Stock Performance

LMNR opened at $14.94 on Thursday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.53 and a current ratio of 1.68. Limoneira has a 52-week low of $11.66 and a 52-week high of $15.55. The firm has a market cap of $270.86 million, a P/E ratio of -6.55 and a beta of 0.32. The business’s fifty day moving average is $13.75 and its 200-day moving average is $13.37.

Institutional Investors Weigh In On Limoneira

Several institutional investors and hedge funds have recently bought and sold shares of LMNR. BNP Paribas Financial Markets grew its stake in Limoneira by 64.8% during the second quarter. BNP Paribas Financial Markets now owns 1,699 shares of the company’s stock worth $27,000 after buying an additional 668 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Limoneira by 3.8% during the 2nd quarter. American Century Companies Inc. now owns 36,690 shares of the company’s stock worth $574,000 after acquiring an additional 1,359 shares during the period. Russell Investments Group Ltd. lifted its holdings in shares of Limoneira by 5.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 25,614 shares of the company’s stock worth $380,000 after acquiring an additional 1,380 shares during the period. Advisors Asset Management Inc. lifted its holdings in shares of Limoneira by 3.3% during the 4th quarter. Advisors Asset Management Inc. now owns 56,794 shares of the company’s stock worth $717,000 after acquiring an additional 1,814 shares during the period. Finally, MetLife Investment Management LLC boosted its position in shares of Limoneira by 45.0% during the 4th quarter. MetLife Investment Management LLC now owns 9,765 shares of the company’s stock worth $123,000 after acquiring an additional 3,029 shares in the last quarter. Institutional investors own 64.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Lake Street Capital dropped their target price on Limoneira from $19.00 to $18.00 and set a “buy” rating for the company in a report on Wednesday, June 10th. HC Wainwright downgraded shares of Limoneira to a “buy” rating in a research note on Wednesday, June 10th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Limoneira in a research report on Wednesday, June 24th. Finally, Wall Street Zen raised shares of Limoneira from a “strong sell” rating to a “sell” rating in a research report on Saturday, September 5th. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $18.00.

About Limoneira

Limoneira Company (NASDAQ: LMNR), founded in 1893 and based in Santa Paula, California, is a diversified agribusiness and real estate enterprise. As one of the oldest citrus producers in the United States, Limoneira has built a reputation for cultivating and marketing high-quality citrus fruits, avocados and specialty crops. The company’s vertically integrated model encompasses farming, packing, processing and marketing activities designed to deliver fresh produce to domestic and international markets.

In its agricultural operations, Limoneira specializes in lemons, oranges and avocados, employing modern irrigation, harvesting and packing technologies to maintain consistent product quality and supply.