Limoneira (NASDAQ:LMNR) Posts Quarterly Earnings Results, Misses Estimates By $0.17 EPS

Limoneira (NASDAQ:LMNR) released its earnings results on Wednesday. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.17), FiscalAI reports. The firm had revenue of $43.81 million during the quarter, compared to analysts’ expectations of $49.62 million. Limoneira had a negative return on equity of 13.55% and a negative net margin of 33.03%.

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

NASDAQ:LMNR opened at $13.31 on Friday. The company has a market cap of $241.31 million, a price-to-earnings ratio of -5.57 and a beta of 0.32. Limoneira has a 52-week low of $11.66 and a 52-week high of $15.55. The firm’s 50-day moving average is $13.75 and its 200-day moving average is $13.36. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.53 and a current ratio of 1.68.

Institutional Investors Weigh In On Limoneira

Large investors have recently made changes to their positions in the company. Jacobs Levy Equity Management Inc. bought a new position in shares of Limoneira in the first quarter valued at approximately $256,000. Jane Street Group LLC bought a new stake in shares of Limoneira during the first quarter worth approximately $335,000. Geode Capital Management LLC lifted its stake in shares of Limoneira by 5.6% in the 2nd quarter. Geode Capital Management LLC now owns 397,720 shares of the company’s stock valued at $6,226,000 after purchasing an additional 20,913 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Limoneira by 248.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 44,238 shares of the company’s stock valued at $692,000 after acquiring an additional 31,552 shares during the last quarter. Finally, Rhumbline Advisers boosted its stake in Limoneira by 29.5% during the 2nd quarter. Rhumbline Advisers now owns 24,943 shares of the company’s stock worth $390,000 after acquiring an additional 5,682 shares during the last quarter. Institutional investors own 64.35% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on LMNR shares. Lake Street Capital reduced their target price on Limoneira from $18.00 to $16.50 and set a “buy” rating for the company in a report on Thursday. HC Wainwright downgraded Limoneira to a “buy” rating in a report on Wednesday, June 10th. Weiss Ratings reissued 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 equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Limoneira presently has an average rating of “Hold” and a consensus price target of $17.25.

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.