Limoneira (LMNR) Q4 2025 Earnings Call Transcript | The Motley Fool

Image source: The Motley Fool. Date Tuesday, December 23, 2025 at 4:30 p.m. ET Call participants President and Chief Executive Officer - Harold Edwards Executive Vice President and Chief Financial Officer - Mark Palamountain Takeaways Total Net Revenue -- $42.8 million compared to $43.9 million in the prior fourth quarter. Agribusiness Revenue -- $41.3 million, down from $42.5 million year-over-year. Fresh Packed Lemon Sales -- $19.2 million, almost doubling the $8.4 million recorded last year; volumes increased to 821,000 cartons at $23.33 per carton from 470,000 cartons at $17.95 per carton. Avocado Revenue -- $300,000, a sharp decrease from $8.9 million last year due to alternate bearing crop cycle; only 396,000 pounds sold at $0.79 per pound versus 4.6 million pounds at $1.92 per pound previously. Orange Revenue -- $2.9 million from 148,000 cartons at $19.67 per carton, up from $1.7 million and 91,000 cartons at $18.99 per carton. Operating Loss -- $11.1 million versus $2.8 million prior year, reflecting $6.7 million in transformation expenses and increased costs. Net Loss Applicable to Common Stock -- $8.8 million, compared to $2 million in the fourth quarter last year. Net Loss Per Diluted Share -- $0.49 loss this quarter versus $0.11 loss previously. Adjusted Net Loss for Diluted EPS -- $8 million, or $0.45 per share, up from $1.6 million loss, or $0.09 per share. Non-GAAP Adjusted EBITDA -- $7 million loss versus $1.2 million income last year. Long-Term Debt -- $72.5 million at October 31, 2025, up from $40 million at the end of the previous fiscal year. Available Credit -- $41.6 million of undrawn availability on a $115 million facility as of October 31, 2025. Sunkist Partnership Cost Savings -- Expected to deliver $10 million in fiscal 2026, split equally between transferring sales employees and operational/storage efficiencies. SG&A Reduction -- 50% reduction expected in fiscal 2026, equating to $10 million in annual cost savings. Lemon Marketing Shift -- Average sales and marketing cost declined from $1.50 to $0.60 per carton through Sunkist, improving margin potential. Avocado Production Growth -- Expansion to 1,500 acres with only 800 currently bearing; remaining 700 acres to mature over three to four years, potentially doubling capacity. 2026 Guidance: Lemon and Avocado Volumes -- Targeting 4-4.5 million cartons of fresh lemons and 5-6 million pounds of avocados. Asset Monetization Proceeds -- $15 million received from Chilean asset sale; $40 million anticipated from planned disposition of Windfall Farms and Argentina assets by end of 2026. Water Rights Monetization -- $1.7 million realized from sales in 2025; additional $50-$70 million potential value from Colorado River and Santa Paula Basin rights through 2027. Agerman Organic Recycling JV -- Planned 50/50 joint venture to process 300,000 tons annually, expected to deliver $4-$5 million incremental EBITDA starting fiscal 2027. Harvest at Limoneira Real Estate -- $155 million in total distributions projected over five years, with phase three consisting of 500 home lots and 300 apartments. Limco Del Mar Infill Land -- 221-acre property in Ventura, CA, presented as a strategic long-term...

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