Limoneira Stock Down On Weak Avocado Volume View For FY25 After Narrower Q4 Loss

Limoneira

22.67 USD -1.00%

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(RTTNews) - Shares of Limoneira Co. (LMNR) is currently dropping by 3% in the pre-market trading after the Citrus Agribusiness company maintained its fiscal 2025 outlook for weak Avocado volume, after reporting narrower net loss in its fourth quarter.

For the fourth quarter, the net loss applicable to stock narrowed to $1.99 million, or $0.11 per share from a loss of $3.58 million, or $0.20 per share in the previous year's quarter.

The adjusted net loss also narrowed to $1.56 million, or $0.09 per share from loss of $2.59 million, or $0.15 per share in the year ago.

The adjusted EBITDA increased to $1.20 million from a loss of $1.31 million in the 2023 quarter.

The net revenue increased to $43.87 million from $41.44 million a year ago.

Looking ahead to fiscal 2025, the company expects fresh lemon volumes to be in the range of 5.0 million to 5.5 million cartons, and Avocado volumes to be in the range of 7.0 million to 8.0 million pounds.

Meanwhile, the company still anticipates a lower avocado volume in fiscal year 2025 compared to 2024, attributed to the alternate bearing cycle of avocado trees.

Limoneira continues to see a strong EBITDA outlook, with plans to expand avocado production by 1,000 acres through fiscal year 2027 amid robust consumer demand trends.

In the pre-market trading, LMNR is currently 2.63% less at $26.12.