Limoneira (LMNR) Fiscal Q3 2026 Earnings Call: EBITDA Rises, Avocado Guidance Raised
Source Tradingkey
Key Takeaways
- Fiscal Q3 2026 net revenue declined to $43.8 million from $47.8 million, primarily due to the transition of citrus brokerage operations to Sunkist.
- Adjusted EBITDA increased to $3.9 million from $3.0 million. SG&A expenses fell by $1.0 million to $4.0 million as Limoneira advanced toward its targeted $10 million in annual savings.
- Fresh lemon sales rose to $27.3 million as average pricing increased to $19.88 per carton, although volume declined to 1.373 million cartons.
- Limoneira raised fiscal 2026 avocado volume guidance to 7.0–7.25 million pounds, from 5.5–6.5 million pounds, after selling approximately 7.0 million pounds in the third quarter.
- Management lowered fresh lemon volume guidance to 4.0–4.25 million cartons, citing excess Argentine imports that pressured both sales volume and pricing.
- The company expects fiscal 2027 avocado production to exceed 10 million pounds, at least 30% above fiscal 2026, supported by acreage planted in 2023 and 2024.
Key Financial Data
| Metric | Fiscal Q3 2026 | Fiscal Q3 2025 | Change or context |
|---|---|---|---|
| Net revenue | $43.8 million | $47.8 million | Down $4.0 million |
| Agribusiness revenue | $42.2 million | $45.9 million | Lower citrus brokerage revenue |
| Fresh lemon sales | $27.3 million | $23.8 million | Higher average pricing |
| Fresh lemon volume | 1.373 million cartons | 1.397 million cartons | Lower volume |
| Average lemon price | $19.88 per carton | $17.02 per carton | Net of Sunkist marketing fees in Q3 2026 |
| Avocado volume | 7.0 million pounds | 5.7 million pounds | Higher production volume |
| Average avocado price | $1.15 per pound | $1.50 per pound | Lower year over year |
| SG&A expenses | $4.0 million | $5.0 million | Lower salaries, benefits and selling expenses |
| Operating loss | $3.0 million | $0.6 million | Included Windfall Farms asset impairment |
| Net loss attributable to common stock | $3.0 million | $1.0 million | Diluted EPS of $(0.17) versus $(0.06) |
| Adjusted diluted EPS | $0.02 | $(0.02) | Adjusted net income versus adjusted loss |
| Adjusted EBITDA | $3.9 million | $3.0 million | Increased $0.9 million |
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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