Limoneira (NASDAQ: LMNR) reported Q3 EPS of $0.02, $0.13 worse than the analyst estimate of $0.15. Revenue for the quarter came in at $52.65 million versus the consensus estimate of $49.75 million.

GUIDANCE:

Updated Guidance

The Company’s food service business and industry logistics continue to experience slowdown due to supply chain and inflationary pressures on a global basis.

The Company now expects fresh lemon volumes to be in the range of 4.7 million to 5.0 million cartons for fiscal year 2023, compared to previous guidance of 5.0 million to 5.4 million cartons. The Company achieved avocado volume of approximately 3.8 million pounds in fiscal year 2023 compared to previous guidance of 3.0 million to 4.0 million pounds.

The Company expects to receive total proceeds of $115 million from Harvest at Limoneira, LLCB II and East Area II spread out over seven fiscal years, with approximately $8 million received in fiscal year 2022.

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