Limoneira (LMNR) Tops Q4 EPS by 5c

Limoneira (NASDAQ: LMNR) reported Q4 EPS of ($0.01), $0.05 better than the analyst estimate of ($0.06). Revenue for the quarter came in at $19.5 million versus the consensus estimate of $14.94 million.

Fiscal Year 2017 Outlook

For the fiscal year ending October 31, 2017, the Company expects to sell between 3.1 million and 3.5 million cartons of fresh lemons at an average price of approximately $23.00 per carton, and expects to sell approximately 8.5 to 9.0 million pounds of avocados at approximately $0.80 per pound.

The Company expects operating income for fiscal year 2017 to be approximately $11.4 million to $11.9 million compared to operating income of $9.2 million for fiscal year 2016. Fiscal year 2017 EBITDA is expected to be in the range of $18.3 million to $18.8 million. The Company expects fiscal year 2017 earnings per diluted share to be in the range of $0.38 to $0.42. Excluding the combined gain of approximately $4.4 million associated with the sale of Calavo stock and the conservation easement, and $1.2 million of transaction costs incurred in the first quarter of 2016 in connection with the Limoneira / Lewis joint venture fiscal year, fiscal year 2016 EBITDA and diluted earnings per share were $16.9 million and $0.39, respectively. As more fully described at the end of this release under "Non-GAAP Financial Measures," the Company is unable to reconcile without unreasonable effort the above forward-looking non-GAAP measures related to EBITDA, and the variability of the changes excluded from these non-GAAP measures may have a significant and potentially unpredictable impact on its future GAAP financial results.

For earnings history and earnings-related data on Limoneira (LMNR) click here.

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