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
Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.
