LMNR · Limoneira CO
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Metrics snapshot
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AI Brief
Q3 FY26 earnings call · Sep 9, 2026TL;DR. Limoneira reported Q3 FY2026 results below expectations on lighter lemon volume due to Argentine import oversupply, narrowing its full-year lemon volume guidance to the lower end while raising avocado volume guidance to 7.0–7.25 million pounds and projecting >10 million pounds (≈30% growth) in FY2027; adjusted EBITDA improved to $3.9M and the company is positioned to monetize over $200M of land/water assets including the $15M Windfall Farms sale and a Colorado River water rights event in FY2026.
- + Q3 adjusted EBITDA rose to $3.9M from $3.0M a year ago, with positive adjusted diluted EPS of $0.02 versus a $0.02 adjusted loss prior year.
- + Fresh lemon carton pricing rose to $19.88 from $17.02 and fresh lemon carton sales increased to $27.3M from $23.8M.
- + Colorado River water rights monetization expected in FY2026, part of a $200M+ identified land/water monetization pipeline.
- + Avocado volume sold in Q3 rose to 7.0 million pounds from 5.7 million pounds, and 9-month volume of 7.3M pounds already exceeded the prior full-year guidance high end.
- − Narrowed FY2026 fresh lemon volume guidance to the lower end of 4.0–4.5 million cartons due to Argentine import oversupply.
- − Avocado average price per pound fell to $1.15 from $1.50, reducing avocado revenue despite higher volume.
- − Long-term debt rose to $100.7M from $72.5M at FY2025 year-end.
- − Q3 included a $4.1M Windfall Farms impairment charge (aggregate ~$13.5M YTD) and an $8.2M YTD loss on disposal of Yuma, Arizona lemon orchard assets, weighing on results.
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Equibles Rating
blended score · not investment adviceBlended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Guidance & track record
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders SellIllustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
the company's own KPIs, from written earnings releases and filings| Metric | Latest | Period | YoY |
|---|---|---|---|
| Acres harvested | 700 | Q3 2026 | — |
| Adjusted EBITDA non-GAAP | -$5.59M | Nine Months Ended July 31, 2026 | — |
| Adjusted net income for diluted EPS non-GAAP | 0.4M | third quarter of fiscal year 2026 | — |
GAAP → non-GAAP reconciliationGAAP Net loss attributable to Limoneira Company -2.99M
-127K Effect of preferred stock and unvested, restricted stock
+388K Stock-based compensation
+4.13M Impairment of assets
+335K Loss and expected loss on disposal of assets, net
-5K Foreign currency (gains) losses
-1.34M Tax effect of adjustments at federal and state rates
= Adjusted net income for diluted EPS 392K
|
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| Average per carton packing costs | $9.79 | Three Months Ended July 31, 2026 filing | — |
| Average per carton price of third-party grower lemons | $13.03 | Three Months Ended July 31, 2026 filing | — |
| Average per pound price of avocados | $1.15 | Three Months Ended July 31, 2026 filing | — |
| Average price per carton | $19.88 | Q3 2026 | — |
| Avocados pounds sold | 7,013 | Q3 2026 | — |
| Cartons of fresh lemons sold | 1,373,000 | third quarter of fiscal year 2026 | — |
| Cartons of lemons sold | 1,373,000 | Three Months Ended July 31, 2026 filing | — |
| Cartons packed and sold | 1,373 | Q3 2026 | — |
| EBITDA non-GAAP | -$34.42M | Nine Months Ended July 31, 2026 | — |
| Fresh lemon carton sales | $27.3M | Three Months Ended July 31, 2026 filing | — |
| Lemon packing segment operating income per carton sold | $1.79 | the third quarter of fiscal year 2026 filing | — |
| Limoneira cartons sold | 371 | Q3 2026 | — |
| Pounds of avocados sold | 7,013,000 | Three Months Ended July 31, 2026 filing | — |
| Third-party grower cartons sold | 1,002 | Q3 2026 | — |
| Third-party grower lemon cartons procured | 1,002,000 | Three Months Ended July 31, 2026 filing | — |
Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period
Versus peers
Farm Products — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
LMNR
this stock
Limoneira CO
|
$230.82M | -0.2% | -16.6% | — | 4.0% |
|
ADM
Archer-Daniels-Midland Co
|
$41.05B | +45.0% | -6.2% | 23.3 | 3.0% |
|
BG
Bunge Global SA
|
$23.62B | +26.4% | +32.4% | 28.4 | 3.5% |
|
TSN
Tyson Foods, Inc.
|
$18.56B | -11.3% | +2.1% | 32.6 | 2.5% |
|
CALM
Cal-Maine Foods Inc
|
$3.52B | -8.8% | -31.7% | — | 10.2% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every sectionPerformance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| LMNR | -5.8% | -9.0% | -6.3% | -8.4% | -0.2% |
| SPY | +1.7% | +1.0% | +22.4% | +0.8% | +13.4% |
| vs SPY | -7.5% | -10.1% | -28.7% | -9.3% | -13.7% |
Capital returns
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.