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Limoneira Company (LMNR) investor relations material

Limoneira Company Q4 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q4 2025 earnings summary23 Dec, 2025

Executive summary

  • Strategic transformation underway, shifting from commodity lemons to diversified agriculture and real estate profit centers, with a focus on cost reduction and asset optimization.

  • Sunkist partnership enhances access to premium retail and food service customers, improves pricing stability, and reduces SG&A costs.

  • Avocado acreage expansion to double production capacity over the next 3-4 years, targeting high-margin markets as 700 acres of non-bearing trees mature.

  • Monetization of non-core assets, including water rights and real estate, to strengthen the balance sheet and fund growth.

  • Organic recycling joint venture and real estate projects expected to provide significant future EBITDA and cash distributions.

Financial highlights

  • Q4 FY25 net revenue: $42.8M (down from $43.9M YoY); FY25 net revenue: $159.7M (down from $191.5M YoY).

  • Q4 FY25 operating loss: $11.1M (vs. $2.8M loss YoY); FY25 operating loss: $20.4M (vs. $6.2M loss YoY).

  • Q4 FY25 net loss: $8.8M ($0.49/share) (vs. $2M, $0.11/share YoY); FY25 net loss: $16.5M ($0.93/share) (vs. $7.2M income, $0.40/share YoY).

  • Adjusted EBITDA for Q4 FY25: -$7M (vs. $1.2M YoY); FY25: -$6.5M (vs. $26.7M YoY).

  • Strategic transformation costs of $6.7M impacted Q4 results.

Outlook and guidance

  • FY26 expected to benefit from $10M in cost savings and improved cost structure from Sunkist partnership.

  • FY26 guidance: fresh lemon volumes 4–4.5M cartons, avocado volumes 5–6M lb.

  • Avocado production to increase significantly in FY27 as new acreage matures.

  • Real estate distributions of $155M–$180M expected over the next five to seven years; $10M received in April 2025.

  • Organic recycling JV to contribute $4–$5M EBITDA starting FY27.

Detail $10M FY26 savings from transformation
Why did Q4 avocado sales decline so sharply?
Plan for $71M net debt and capital allocation
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Frequently asked questions

Limoneira Company operates as an agribusiness and real estate development company in the United States and internationally. It operates through four segments: Fresh Produce, Rental Operations, Real Estate Development, and Other Agricultural Operations. The company engages in lemon packing; selling lemons; selling fresh avocados, other fresh citrus fruits and specialty products, such as orange and lemon essential oils, which are extracted from the peels of fruit through distillation processes; and exporting its products to third parties, as well as through production contracts for specific customers.

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