Limoneira(US:LMNR)2025-09-09 20:02Financial Performance - Total net revenues for Q3 FY 2025 were $47.5 million, down 25% from $63.3 million in Q3 FY 2024[5] - The company reported a net loss of $1.0 million in Q3 FY 2025, compared to a net income of $6.5 million in Q3 FY 2024, resulting in a net loss per diluted share of $0.06[11] - Adjusted net loss for diluted EPS was $0.4 million or $0.02 per diluted share in Q3 FY 2025, compared to adjusted net income of $7.8 million or $0.42 per diluted share in Q3 FY 2024[12] - Non-GAAP adjusted EBITDA decreased to $3.0 million in Q3 FY 2025 from $13.8 million in the same period last year[13] - Net loss attributable to Limoneira Company for the three months ended July 31, 2025, was $855,000, compared to a net income of $6,593,000 for the same period in 2024[33] - Adjusted EBITDA for the nine months ended July 31, 2025, was $513,000, significantly lower than $25,518,000 for the same period in 2024[35] Revenue Breakdown - Agribusiness revenues decreased to $45.9 million in Q3 FY 2025 from $61.8 million in the same period last year[5] - Fresh packed lemon sales were $23.8 million in Q3 FY 2025, compared to $25.8 million in Q3 FY 2024, with an average price per carton dropping from $18.43 to $17.02[6] - Avocado revenue fell to $8.5 million in Q3 FY 2025 from $13.9 million in Q3 FY 2024, with average price per pound decreasing from $1.57 to $1.50[7] - Total net revenues for the agribusiness segment in Q3 2025 were $45,942,000, a decrease of 25.7% from $61,849,000 in Q3 2024[37] Cost and Expenses - The total costs and expenses for the agribusiness segment in Q3 2025 were $39,808,000, compared to $43,638,000 in Q3 2024, a decrease of 8.5%[37] - Operating income for the agribusiness segment in Q3 2025 was $3,892,000, down from $16,412,000 in Q3 2024, reflecting a decline of 76.3%[37] Assets and Liabilities - Total current assets increased to $46,315,000 as of July 31, 2025, compared to $25,846,000 as of October 31, 2024, representing an increase of 79.5%[31] - Total liabilities rose to $108,807,000 as of July 31, 2025, compared to $96,314,000 as of October 31, 2024, indicating an increase of 12.5%[31] - The company’s total assets increased slightly to $299,908,000 as of July 31, 2025, from $298,815,000 as of October 31, 2024[31] Future Outlook - The company expects fresh lemon volumes to be between 4.5 million to 5.0 million cartons and avocado volume to be approximately 7.0 million pounds for FY 2025[22] - A strategic partnership with Sunkist is anticipated to generate $5 million in annual cost savings and EBITDA enhancement starting in FY 2026[4] - The merger with Sunkist Growers aims to improve efficiency and reduce costs, although specific financial impacts were not detailed in the report[30] Shareholder Information - The company reported a basic net loss per common share of $0.06 for the three months ended July 31, 2025, compared to earnings of $0.36 per share for the same period in 2024[33] - The diluted net loss income per common share for Q3 2025 was $(0.06), compared to $0.35 in Q3 2024[36] - The weighted-average common shares outstanding - diluted for Q3 2025 were 17,854,000, compared to 18,363,000 in Q3 2024[36] - The company reported a tax effect of adjustments at federal and state rates amounting to $(214,000) in Q3 2025, compared to $(499,000) in Q3 2024[36]