NASDAQ$LMNR
Limoneira Company · Q1 2020 earnings
Q1 2020 earnings · · Investor relations
Briefing
First quarter fiscal year 2020 financial results reported.
Limoneira Company reported a slight decrease in total net revenue for the first quarter of fiscal year 2020, with a decrease in fresh lemon sales being partially offset by increases in avocado, orange, and specialty citrus revenue. The company is updating adjusted EBITDA expectations due to the negative impact of COVID-19 on consumer demand and supply chain disruptions.
- Total net revenue was $41.7 million, a slight decrease compared to $42.0 million in the first quarter of the previous fiscal year.
- Fresh lemon sales decreased to $27.0 million from $30.9 million in the same period last year, due to lower prices.
- Avocado revenue increased to $0.2 million, while orange revenue rose to $2.3 million, and specialty citrus revenue increased to $1.9 million.
- The company closed on 34 lots in the Harvest at Limoneira real estate development project during the quarter.
Headline financials
Revenue & EPS history
Limoneira · Revenue · Quarterly
$41.7M
Revenue by segment
Limoneira · $41.4M total across 2 segments · Q4 2023
- Agribusiness$40.1M+4.8%96.7%
- Other Operations$1.35M-5.3%3.3%
Forward guidance
Limoneira updated its adjusted EBITDA expectations for fiscal year 2020 due to the negative impact of COVID-19 and expects adjusted EBITDA to be in the range of $15 million to $20 million. The company continues to expect to sell 7.5 to 9.5 million cartons of fresh lemons globally.
Tailwinds
- Company and its international affiliates expect to sell 7.5 to 9.5 million cartons of fresh lemons globally.
- Company expects to sell 5.0 to 6.0 million cartons domestically.
- Company has an additional 1,200 acres of non-bearing lemons estimated to become full bearing over the next four years.
- Company expects 300 of the 1,200 acres to become full bearing in fiscal year 2021.
- Company intends to plant an additional 250 acres of lemons in the next two years.
Headwinds
- COVID-19 is having a negative impact on consumer demand in Asian countries and supply chain disruptions.
- Situation is creating an oversupply of lemons and oranges domestically.
- Improvements in avocados are expected to be offset by a challenging environment in citrus offerings.
- Adjusted EBITDA for fiscal year 2020 is expected to be in the range of $15 million to $20 million, compared to previous guidance of $22 million to $26 million.
- The company will not be providing earnings per share guidance going forward.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q1 2020
+0.4%
Avg return
Earnings day
+0.6%
Avg return
5 days after
-0.9%
Avg return
30 days after
60%
40 / 67 earnings
Positive
+28.2%
Q2 2022
Best reaction
-26.8%
Q1 2020
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2026 | +8.6% | +8.5% | — | |
| Q1 2026 | -4.0% | -4.1% | -6.2% | |
| Q4 2025 | -6.5% | -10.4% | +6.1% | |
| Q3 2025 | -5.2% | -3.4% | -7.3% | |
| Q2 2025 | +0.0% | -2.5% | -3.3% | |
| Q1 2025 | -13.3% | -15.0% | -22.3% | |
| Q4 2024 | -5.1% | -7.2% | -14.6% | |
| Q3 2024 | -2.7% | +4.1% | +8.8% | |
| Q2 2024 | +4.1% | -2.8% | -3.1% | |
| Q1 2024 | +4.6% | +4.3% | +9.9% | |
| Q4 2023 | +8.3% | +9.6% | -3.7% | |
| Q3 2023 | -3.9% | -1.5% | -1.9% | |
| Q2 2023 | -5.0% | -5.8% | -2.7% | |
| Q1 2023 | +4.1% | +1.6% | +9.2% | |
| Q4 2022 | -8.5% | -5.2% | -0.4% | |
| Q3 2022 | +11.1% | +8.1% | +4.6% | |
| Q2 2022 | +28.2% | +28.0% | +25.3% | |
| Q1 2022 | -11.1% | -13.3% | -8.7% | |
| Q4 2021 | +0.5% | -3.4% | -11.6% | |
| Q3 2021 | +0.0% | -0.4% | +0.7% | |
| Q2 2021 | +2.0% | -1.9% | -11.6% | |
| Q1 2021 | -1.1% | -0.6% | -6.0% | |
| Q4 2020 | -7.2% | -11.0% | -6.7% | |
| Q3 2020 | +11.1% | +9.2% | +4.0% | |
| Q2 2020 | +2.5% | -1.8% | -9.6% | |
| Q1 2020 | -26.8% | -14.6% | -17.0% | |
| Q4 2019 | +11.6% | +12.9% | +12.8% | |
| Q3 2019 | -1.7% | +4.8% | -4.0% | |
| Q2 2019 | +7.7% | +5.5% | +2.2% | |
| Q1 2019 | +7.9% | +3.6% | +5.0% | |
| Q4 2018 | +0.7% | -3.9% | +4.9% | |
| Q3 2018 | -13.9% | -12.3% | -22.5% | |
| Q2 2018 | +0.7% | +3.8% | +1.2% | |
| Q1 2018 | +1.3% | +10.0% | +12.3% | |
| Q4 2017 | +3.2% | +3.1% | -3.5% | |
| Q3 2017 | -0.9% | -1.2% | +0.1% | |
| Q2 2017 | +4.7% | +9.6% | +14.0% | |
| Q1 2017 | +5.5% | +8.9% | +10.6% | |
| Q4 2016 | +0.4% | -11.9% | -15.3% | |
| Q3 2016 | +12.8% | +12.9% | +13.5% | |
| Q2 2016 | +3.0% | +8.7% | +2.5% | |
| Q1 2016 | +2.4% | — | — | |
| Q4 2015 | +8.5% | — | — | |
| Q3 2015 | -16.9% | — | — | |
| Q2 2015 | +1.6% | — | — | |
| Q1 2015 | +0.9% | — | — | |
| Q4 2014 | -8.5% | — | — | |
| Q3 2014 | +0.8% | — | — | |
| Q2 2014 | +1.6% | — | — | |
| Q1 2014 | -2.7% | — | — | |
| Q4 2013 | -11.1% | — | — | |
| Q3 2013 | -0.6% | — | — | |
| Q2 2013 | +3.2% | — | — | |
| Q1 2013 | -4.1% | — | — | |
| Q4 2012 | -4.3% | — | — | |
| Q3 2012 | -0.6% | — | — | |
| Q2 2012 | -4.5% | — | — | |
| Q1 2011 | +2.0% | — | — | |
| Q1 2012 | +0.6% | — | — | |
| Q4 2009 | +1.3% | — | — | |
| Q2 2011 | +1.3% | — | — | |
| Q4 2011 | +1.3% | — | — | |
| Q3 2010 | +6.3% | — | — | |
| Q4 2010 | +6.3% | — | — | |
| Q3 2011 | +6.3% | — | — | |
| Q2 2010 | +2.8% | — | — | |
| Q1 2010 | +2.2% | — | — |
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