Limoneira (NASDAQ: LMNR) reported Q4 EPS of ($0.24), versus ($0.30) reported last year. Revenue for the quarter came in at $36.5 million, versus $14.7 million reported last year.

Fiscal Year 2020 Outlook:

The Company is reiterating its previously announced fiscal year 2020 guidance.

For fiscal year 2020, the Company is providing adjusted EBITDA guidance and lemon volume guidance by cartons and will not be providing earnings per share guidance going forward. The Company believes adjusted EBITDA can facilitate a more complete analysis and greater transparency into its ongoing results of operations and remove certain non-cash items that create fluctuations in its earnings per share. These items include:

Depreciation and amortization, which will be increasing on an annual basis from recent and expected future acquisitions,
The requirement to mark-to-market the price of Calavo stock in net income, and
The expected continuous equity in earnings generated from Harvest at Limoneira.

Excluding the non-cash mark-to-market on stock in Calavo and equity in earnings from Harvest at Limoneira adjusted EBITDA for fiscal year 2020 is expected to be in the range of $22 million to $26 million. For fiscal year 2020, the Company and its international affiliates are expecting to sell 7.5 to 9.5 million cartons of fresh lemons globally. Included in the global cartons estimate, are 5 to 6 million cartons the Company expects to sell domestically.

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.