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LMNR Nasdaq· Limoneira Co
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LMNR Nasdaq· Limoneira Co
Earnings report Q4 2023

LMNR Reports Increase in Revenue for Latest Quarter

Segments of Revenue

In the latest quarter, LMNR reported total net revenues of $179.9 million. The breakdown of revenue by segment is as follows:

  1. Agribusiness: The agribusiness segment generated $174.4 million in revenue, representing the majority of the company's total net revenues. This segment includes sales of fresh lemons, lemon by-products, brokered lemons, and other lemon revenue.

  2. Other Operations: The other operations segment contributed $5.5 million in revenue. This segment encompasses various non-agribusiness activities.

Strengths

LMNR demonstrated a positive performance in terms of revenue in the latest quarter. The company's total net revenues increased by approximately $15.9 million compared to the same quarter in the previous year. This growth can be attributed to the 1% increase in fresh lemons segment revenue, which amounted to $0.6 million. However, it is worth noting that fresh lemon sales decreased by $6.2 million, partially offsetting the overall revenue growth.

Challenges

While LMNR experienced overall revenue growth, the decrease in fresh lemon sales presents a challenge for the company. It is important for LMNR to address the factors contributing to this decline and implement strategies to mitigate the impact on future revenue.

Noteworthy

LMNR's revenue growth in the latest quarter is noteworthy, particularly considering the challenges posed by the decrease in fresh lemon sales. The company's ability to offset this decline and achieve overall revenue growth demonstrates resilience and adaptability in the face of market challenges.

Summary

LMNR reported an increase in revenue for the latest quarter, driven by growth in the agribusiness segment and other operations. The company's total net revenues amounted to $179.9 million, representing a $15.9 million increase compared to the same quarter in the previous year. While the decrease in fresh lemon sales presents a challenge, LMNR's ability to offset this decline and achieve overall revenue growth showcases its resilience. Moving forward, LMNR should focus on addressing the factors contributing to the decrease in fresh lemon sales to ensure sustained revenue growth.

Source documents

Form 10-K  filed on Dec 21, 2023
56 pages scanned

Reference data

Company financials Q4 revenue 41.4M
Analyst estimates Q4 EPS missed by -2.17%
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