The following is a summary of the Limoneira Company (LMNR) Q4 2024 Earnings Call Transcript:

Financial Performance:

• Limoneira reported an annual net revenue growth of 6% to a record $191.5 million in FY2024.

• Adjusted EBITDA improved from a loss of $224,000 in FY2023 to a gain of $26.7 million in FY2024.

• Total net revenue for Q4 FY2024 was $43.9 million, up 6% year-over-year from $41.4 million.

• The company achieved a significant reduction in net loss per diluted share from $0.20 in Q4 FY2023 to $0.11 in Q4 FY2024.

Business Progress:

• Expansion of avocado production by 1,000 acres targeted through FY2027.

• Closed lot sales for 554 residential units in April, marking the sellout of Phase II of the Harvest development project.

• Advanced 37% increase in dwelling units for the Harvest Real Estate Development Project, with plans for 300 multifamily rental homes and 250 additional single-family home sites in the project's Phase III.

• Strategic use of valuable water resources and a compelling real estate portfolio as pathways to enhanced stockholder value.

• Exploration of strategic alternatives for company assets to maximize stockholder value.

Opportunities:

• Expect meaningful water monetization transactions in FY2025, especially from the Santa Paula water basin.

• Significant expected receipts from the Harvest project amounting to $180 million spread over seven fiscal years.

Risks:

• No explicit risks detected.

More details: Limoneira IR

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