Limoneira (LMNR) Tops Q2 EPS by 6c, Beats on Revenues; Raises FY17 EPS Guidance

June 8, 2017 4:08 PM

Limoneira (NASDAQ: LMNR) reported Q2 EPS of $0.24, $0.06 better than the analyst estimate of $0.18. Revenue for the quarter came in at $37 million versus the consensus estimate of $33.68 million.

GUIDANCE:

Limoneira sees FY2017 EPS of $0.51-$0.55.

Raising Fiscal Year 2017 Outlook

Based on improved total lemon revenues for the second quarter of fiscal year 2017, and an improved pricing outlook for avocados, the Company is raising its earnings guidance range for the fiscal year ending October 31, 2017. The Company currently expects earnings per diluted share to be in the range of $0.51 to $0.55 per share compared to its previous guidance range of $0.48 to $0.52 per diluted share. The Company expects operating income for fiscal year 2017 to be in a range of approximately $14.7 million to $15.2 million compared to the previous range of $14.4 million to $14.9 million. Fiscal year 2017 EBITDA is expected to be in the range of $21.7 million to $22.2 million compared to the previous range of $21.5 million to $22.0 million. The Company continues to expect to sell between 3.1 million and 3.5 million cartons of fresh lemons at an average price per carton of approximately $23.00; however, it anticipates total lemon revenues, which includes sales of fresh cartons, lemon by-products and shipping and handling revenue to be higher than previously estimated. In addition, the Company expects to sell approximately 6.0 million to 6.5 million pounds of avocados at an average price per pound of $1.50 compared to previous avocado sales estimates of between 8.5 million to 9.0 million pounds at an average price per pound of $1.00.

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

Categories

Earnings Guidance Hot Guidance

Next Articles