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• Total Net Revenue: $34.3 million, down from $39.7 million in the previous year.

• Agribusiness Revenue: $32.9 million, compared to $38.3 million last year.

• Other Operations Revenue: $1.5 million, up from $1.4 million last year.

• Fresh Packed Lemon Sales: $21.2 million, down from $23.9 million last year.

• Average Price per Lemon Carton: $18.44, compared to $21.06 last year.

• Avocado Revenue: $162,000, with no revenue in the same period last year.

• Average Price per Pound of Avocados: $2.25.

• Orange Revenue: $1.6 million, up from $1.1 million last year.

• Specialty Citrus and Wine Grape Revenue: $0.5 million, down from $1.1 million last year.

• Farm Management Revenues: $1.2 million, down from $2 million last year.

• Total Costs and Expenses: Decreased by 16% to $39.7 million from $47.5 million last year.

• Operating Loss: Improved to $5.3 million from $7.7 million last year.

• Net Loss Applicable to Common Stock: $3.2 million, compared to $3.7 million last year.

• Net Loss per Diluted Share: $0.18, compared to $0.21 last year.

• Adjusted Net Loss per Diluted Share: $0.14, compared to $0.18 last year.

• Adjusted EBITDA: Improved to a loss of $2.3 million from a loss of $4.8 million last year.

• Gain on Sales of Water Rights: $1.5 million.

• Long-term Debt: $57.9 million as of January 31, 2025, compared to $40 million at the end of fiscal year 2024.

• Net Debt Position: $56.8 million at quarter end.

• Warning! GuruFocus has detected 3 Warning Signs with AEYE.

Release Date: March 12, 2025

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

• Limoneira Co (NASDAQ:LMNR) is unlocking significant shareholder value through transformative land use conversion and water monetization.

• The company achieved improved operating expenses efficiency and enhanced bottom line performance despite a temporary oversupplied lemon market.

• Expansion of avocado production and growing citrus business through multiple channels has enhanced long-term operational and financial outlook.

• The company recorded avocado revenue this quarter, which was not present in the comparable period last year, contributing positively to the financial results.

• Limoneira Co (NASDAQ:LMNR) successfully monetized water rights alongside certain real estate assets, with further opportunities expected in fiscal year 2025.

Negative Points

• Total net revenue for the first quarter of fiscal year 2025 decreased to $34.3 million from $39.7 million in the previous fiscal year.

• Agribusiness revenue declined due to a temporarily oversupplied lemon market, placing downward pressure on prices.

• Farm management revenues decreased in the first quarter of fiscal year 2025 due to weather and crop conditions.

• The company experienced a net loss applicable to common stock of $3.2 million for the first quarter of fiscal year 2025.

• Adjusted EBITDA for the first quarter of fiscal year 2025 was a loss of $2.3 million, although improved from the previous year.