Financial Data and Key Metrics Changes - Total net revenue for Q2 FY2023 was $48.1 million, compared to $46.8 million in Q2 FY2022, reflecting a year-over-year increase [61] - Operating loss for Q2 FY2023 was $3.9 million, compared to operating income of $2.6 million in the same period last year [3] - Net loss applicable to common stock for Q2 FY2023 was $1.7 million, compared to net income of $1.4 million in Q2 FY2022 [3] - Adjusted net income for diluted earnings per share for Q2 FY2023 was $3.9 million, or $0.21 per diluted share, compared to $1.9 million, or $0.11 per diluted share in Q2 FY2022 [4][5] - Adjusted EBITDA for Q2 FY2023 was $6.2 million, similar to the same period in FY2022 [6] Business Line Data and Key Metrics Changes - Approximately 88,000 cartons of oranges were sold in Q2 FY2023 at an average price of $15.72 per carton, down from 328,000 cartons sold at $7.98 per carton in Q2 FY2022 [1] - Specialty citrus and other revenue increased to $2.4 million in Q2 FY2023 from $1.4 million in Q2 FY2022 [1] - Agribusiness revenue for Q2 FY2023 was $46.7 million, compared to $45.4 million in the same period last year [61] - Lemon revenues in Q2 FY2023 included $26.6 million from fresh lemon sales, down from $27.3 million in Q2 FY2022 [64] Market Data and Key Metrics Changes - The company expects total lemon sales volume for FY2023 to be between 5 million and 5.4 million cartons, up from 4.9 million cartons in FY2022 [9] - Avocado revenue in Q2 FY2023 was $3.6 million, with approximately 900,000 pounds sold at an average price of $1.30 per pound, down from 1.9 million pounds at $1.90 per pound in Q2 FY2022 [68] - The avocado market is currently oversupplied, with significant pressure on prices due to increased imports from Mexico and Peru [69] Company Strategy and Development Direction - The company is transitioning to an asset lighter business model, aiming to streamline operations and sell non-strategic assets, with $180 million identified for sale [82][87] - The strategic plan includes leveraging grower partner fruit to reduce capital outlay and improve margins, targeting $2 to $2.50 per carton of margin [85] - The company has entered into an exclusive licensing relationship with Apeel Sciences to enhance lemon quality and shelf life through innovative coating technology [91][92] Management's Comments on Operating Environment and Future Outlook - Management noted that heavy rains in California delayed some lemon harvests but still expects to meet full fiscal year 2023 lemon volume guidance [80] - The company anticipates a slow rise in lemon prices in the second half of FY2023 due to industry-wide lower production [9][66] - Management expressed confidence in the long-term recovery of lemon pricing despite current oversupply conditions [23] Other Important Information - The company recorded a non-cash loss on the disposal of Cadiz Ranch assets amounting to $9 million, ceasing farming operations in that area [2][90] - A settlement agreement with Southern California Edison resulted in a total settlement of $9 million, with $6.1 million received net of legal costs [62][89] Q&A Session Summary Question: View on lemon markets and path to normalized earnings - Management discussed the challenges in the lemon market and the steps taken to improve profitability, particularly in unprofitable areas like Yuma, Arizona [18][20][22] Question: Avocado supply and demand dynamics - Management explained that the current oversupply is primarily driven by increased supply from Mexico, leading to lower prices and a lag in demand recovery [24][26] Question: Monetization of water rights - Management indicated potential for significant revenue from water rights, with discussions ongoing regarding the sale or leasing of water rights [27][29][31] Question: Asset light outlook and growth targets - Management outlined a target of 15 million cartons over the next three to five years, with a focus on third-party grower partnerships for growth [40][41] Question: Cadiz Ranch asset disposal impact - Management clarified that the $9 million loss from Cadiz Ranch was non-cash and part of a strategic decision to eliminate unprofitable operations [47][49]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED APRIL 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number: 001-34755 LIMONEIRA COMPANY (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organizati ...

May 2023 Disclosure. This presentation contains forward-looking statements, including guidance for fiscal years 2023 and beyond, within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on Limoneira's current expectations about future events and can be identified by terms such as "expect," "may," "anticipate," "intend," "should be," "will be," "is likely to," "strive to," and si ...

Start Time: 16:30 January 1, 0000 5:23 PM ET Limoneira Company (NASDAQ:LMNR) Q1 2023 Earnings Conference Call March 09, 2023, 16:30 PM ET Company Participants Harold Edwards - President and CEO Mark Palamountain - CFO John Mills - Managing Partner, ICR Conference Call Participants Eric Larson - Seaport Research Partners Raj Sharma - B. Riley Ben Klieve - Lake Street Capital Markets Vincent Anderson - Stifel Operator Greetings, and welcome to Limoneira’s First Quarter Fiscal Year 2023 Financial Results Confe ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Delaware 77-0260692 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) FOR THE QUARTERLY PERIOD ENDED JANUARY 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number: 001-34755 LIMONEIRA ...

Forward-Looking Statements | --- | --- | |-------|----------------------------------------------------------------------------------------------------------| | | Real Estate Development Project | | | $115 M | | | expected revenue spread out over seven fiscal years, with first proceeds received in fiscal year 2022 | Improve consistency of earnings 8 Core Operating Business Revenue Streams 12 $27 $25 $23 $21 $19 $17 $15 2022 2017 2019 2020 2021 2018 -Average FOB -Cost per Carton *International includes Chile, ...

Limoneira Company (NASDAQ:LMNR) Q4 2022 Earnings Conference Call December 22, 2022 4:30 PM ET Company Participants John Mills - Investor Relations Harold Edwards - President and Chief Executive Officer Mark Palamountain - Chief Financial Officer Conference Call Participants Ben Bienvenu - Stephens Eric Larson - Seaport Research Partners Ben Klieve - Lake Street Capital Markets Operator Greetings and welcome to Limoneira’s Fourth Quarter Fiscal Year 2022 Financial Results Conference Call. At this time, all p ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED OCTOBER 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 001-34755 LIMONEIRA COMPANY (Exact name of registrant as specified in its charter) Delaware 77-0260692 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer ...

Limoneira Company (NASDAQ:LMNR) Q3 2022 Earnings Conference Call September 8, 2022 4:30 PM ET Company Participants John Mills - IR, ICR Harold Edwards - President & CEO Mark Palamountain - CFO Conference Call Participants Ben Bienvenu - Stephens Vincent Anderson - Stifel Financial Corp Ben Klieve - Lake Street Capital Markets Eric Larson - Seaport Research Partners Operator Greetings, and welcome to Limoneira’s Third Quarter Fiscal Year 2022 Financial Results Conference Call. At this time, all participants ...

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED JULY 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number: 001-34755 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q LIMONEIRA COMPANY (Exact name of registrant as specified in its charter) Delaware 77-0260692 (State or other jurisdiction of incorpor ...