Limoneira Fiscal Q3 Adjusted Earnings, Revenue Rise -- Shares Up After Hours

MT Newswires Live09-10

Limoneira (LMNR) reported late Monday fiscal Q3 adjusted net income of $0.42 per diluted share, up from $0.02 a year earlier.

Two analysts polled by Capital IQ expected $0.34.

Revenue for the quarter ended July 31 also climbed to $63.3 million from $52.5 million a year earlier. Three analysts expected $63.6 million.

For its fiscal 2024, the produce and fruit grower is projecting avocado volumes in a range of 14.5 million to 15.5 million pounds, up from its prior outlook expecting 9 to 10 million pounds.

The company trimmed its forecast for fresh lemon volumes this year to a new range of 4.5 million to 5.0 million cartons, compared with prior guidance expecting between 5.0 million to 5.5 million cartons.

Shares were up nearly 3% in after-hours activity.

Price: 25.70, Change: +0.70, Percent Change: +2.80

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