Limoneira Company, a diversified citrus grower, packer, and marketer, has reported financial results for the third quarter ended July 31, 2025. The company also announced progress on its citrus marketing partnership with Sunkist Growers and plans to explore housing development on its Limco Del Mar Ranch property.
Harold Edwards, President and CEO, said, "We continue to make strides in unlocking long-term value in our two-part value creation strategy: agriculture production and land and water monetization. Regarding our agriculture production, the lemon market continued to face pricing pressure during the first two months of the third quarter, and our fresh utilization was lower due to holding lemons in storage longer to capture higher prices during the final month of the quarter. Avocado pricing and volume were on plan, and we expect to achieve volume goals for both lemons and avocados in fiscal 2025."
© Limoneira
Edwards added that avocado production is expected to improve as new acreage matures and that lemon profitability should return with more normalized prices and utilization in fiscal 2026. The company expects to save about US$5 million annually in selling and marketing costs through its new citrus sales and marketing partnership with Sunkist.
Third-quarter revenues were US$47.5 million, compared with US$63.3 million a year earlier. Agribusiness revenues were US$45.9 million, compared with US$61.8 million. Fresh-packed lemon sales were US$23.8 million on 1.4 million cartons at an average of US$17.02 per carton, compared with US$25.8 million on 1.4 million cartons at US$18.43 per carton last year. Avocado revenue was US$8.5 million on 5.65 million pounds sold at US$1.50 per pound, compared with US$13.9 million on 8.86 million pounds at US$1.57 per pound. Orange revenue increased to US$1.7 million, with 94,000 cartons sold at US$18.00 per carton. Specialty citrus and wine grape revenues were US$0.6 million.
The company reported an operating loss of US$0.6 million, compared with an operating income of US$9 million in the same quarter of 2024. Net loss was US$1 million, or US$0.06 per diluted share, compared with net income of US$6.5 million, or US$0.35 per diluted share.
For the first nine months of fiscal 2025, revenues totaled US$116.9 million, down from US$147.6 million a year earlier. The company reported a net loss of US$7.7 million, or US$0.43 per diluted share, compared with net income of US$9.2 million, or US$0.51 per diluted share, in the same period of fiscal 2024.
Limoneira also announced plans to explore the development of new residential neighborhoods on its 221-acre Limco Del Mar Ranch property in Ventura, California, citing regional housing needs. In January 2025, it sold water pumping rights in the Santa Paula Basin for US$1.7 million.
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© LimoneiraFor more information:
John Mills
Limoneira Company
Tel: +1 646 277 1254
Email: [email protected]
www.investor.limoneira.com