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LMNR

Limoneira Company

LMNR

Limoneira Company • NASDAQ
$13.89 ▲ 1.76% (+0.24)
Market Cap $250.69 M
52w High $28.17
52w Low $12.69
Dividend Yield 0.30%
P/E -25.72
Volume 37.75K
Outstanding Shares 18.05M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $47.478M ▲ $4.957M ▼ $-855K ▲ -1.801% ▲ $-0.06 ▲ $-630K ▲
Q2-2025 $35.119M ▲ $5.751M ▲ $-3.361M ▼ -9.57% ▼ $-0.2 ▼ $-727K ▲
Q1-2025 $34.305M ▼ $4.981M ▼ $-3.074M ▼ -8.961% ▼ $-0.18 ▲ $-3.202M ▼
Q4-2024 $43.861M ▼ $5.442M ▼ $-1.859M ▼ -4.238% ▼ $-0.52 ▼ $633K ▼
Q3-2024 $63.305M $7.625M $6.593M 10.415% $0.37 $11.623M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $2.111M ▲ $299.908M ▲ $108.807M ▲ $180.291M ▼
Q2-2025 $2.083M ▲ $296.627M ▼ $103.166M ▼ $182.952M ▼
Q1-2025 $1.133M ▼ $301.37M ▲ $104.016M ▲ $186.841M ▼
Q4-2024 $2.996M ▲ $298.815M ▼ $96.314M ▼ $191.952M ▼
Q3-2024 $1.09M $307.313M $101.62M $195.025M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-916K ▲ $-2.967M ▼ $-3.351M ▼ $6.337M ▲ $28K ▼ $-6.107M ▼
Q2-2025 $-3.365M ▼ $8.928M ▲ $-3.014M ▲ $-4.985M ▼ $950K ▲ $6.533M ▲
Q1-2025 $-3.071M ▼ $-12.912M ▼ $-3.492M ▼ $14.539M ▲ $-1.863M ▼ $-16.994M ▼
Q4-2024 $-1.92M ▼ $6.587M ▼ $-2.503M ▲ $-2.182M ▲ $1.906M ▲ $3.895M ▼
Q3-2024 $6.216M $24.561M $-3.764M $-21.124M $-312K $21.554M

Revenue by Products

Product Q3-2024Q4-2024Q1-2025Q3-2025
Avocados
Avocados
 $10.00M ▲$10.00M ▲$0 ▼$10.00M ▲
Fresh Lemons
Fresh Lemons
 $40.00M ▲$20.00M ▼$20.00M ▲$30.00M ▲
Lemon Packing
Lemon Packing
 $20.00M ▲$10.00M ▼$10.00M ▲$10.00M ▲
Other Agribusiness
Other Agribusiness
 $10.00M ▲$10.00M ▲$0 ▼$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has been inching higher over the last few years, but only by small steps. Profitability has improved from roughly break-even to modest profits, yet earnings remain thin and somewhat choppy from year to year. The business is clearly sensitive to crop volumes, pricing, and costs, which shows up as swings between small gains and small losses at the operating level. Overall, the income statement tells a story of gradual progress, but with very little margin for error and meaningful volatility still present.

Balance Sheet

Balance Sheet The balance sheet is typical for a farming and land-based company: a lot of value tied up in land and long‑lived assets rather than in cash. Debt has been moving down, which reduces financial risk and interest burden, while shareholder equity has held fairly steady. Cash on hand looks limited, so the company likely leans on steady cash generation and credit facilities rather than a large cash reserve. The underlying real estate and water rights are important hidden strengths, but they are not as liquid as cash if conditions suddenly worsen.

Cash Flow

Cash Flow Cash generation has been uneven, with some years producing healthy operating cash and at least one recent year slipping into negative territory. More recently, free cash flow has turned positive again, helped by tighter capital spending and better operating performance. That said, the cash flows are still relatively small compared with the size of the asset base, so the company does not have a wide cash cushion. Weather, harvest quality, and commodity prices can quickly shift cash flow from positive to negative, which is important to keep in mind.

Competitive Edge

Competitive Edge Limoneira’s edge comes from a mix of long history in citrus, control of valuable water and land in California, and a deliberate shift toward an “asset‑light” model where it manages and packs fruit for others. Its partnership with Sunkist gives it strong marketing reach, and exclusive use of Apeel’s shelf‑life technology helps differentiate its lemons with retailers. Expansion into avocados, timed to fill seasonal gaps between major Mexican harvests, aims to capture better pricing in a growing category. The main risks are heavy exposure to California’s water and weather conditions, dependence on a few key crops, and execution risk as it restructures toward services and away from owning as much farmland itself.

Innovation and R&D

Innovation and R&D Innovation here is more about farming methods and technology than traditional laboratory R&D. Limoneira has a track record of practical innovations, from historic advances in lemon curing to current use of drones, solar power, energy storage, and proprietary wastewater treatment to cut waste and costs. The Apeel coating partnership is a notable commercial innovation, extending shelf life and supporting a quality‑focused, sustainability‑oriented brand image. Future innovation seems focused on better use of land and water, higher‑margin crops like avocados, and monetizing real estate, rather than heavy spending on classic research projects.

Summary

Limoneira is an old-line agricultural company in the middle of a strategic shift, trying to move from a land‑heavy, more volatile farming model toward a leaner, higher‑margin mix of services, branded produce, avocados, and real estate monetization. Financial results show modest revenue growth and a move from roughly break‑even to small profits, but earnings and cash flow are still fragile and can swing with growing conditions and market prices. The balance sheet is anchored by valuable land and water rights and gradually shrinking debt, but limited cash means execution discipline is important. The long‑term opportunity lies in successfully scaling higher‑margin activities—farm management, packing, avocados, and real estate—while managing the inherent risks of farming, regulation, and the ongoing strategic review process, which could materially change the business over time.

NEWS

November 13, 2025 · 8:30 AM UTC

Limoneira Closes Sale of its Chilean Ranches for $15 Million

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September 24, 2025 · 4:05 PM UTC

Limoneira Declares Quarterly Dividend

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September 9, 2025 · 4:05 PM UTC

Limoneira Company Announces Third Quarter Fiscal Year 2025 Financial Results

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September 9, 2025 · 4:00 PM UTC

Limoneira Explores Providing Housing on the Limco Del Mar Ranch to Address Ventura County's Housing Needs

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