Limoneira Q2 net loss $1.7M; debt slashed 70% to $31.5M; avocado guidance cut

Limoneira CO

2023-Q2 EPS reported $0.75 revenue$85,971,000

Q2 net loss $1.7M ($0.10 loss per share) vs net income $1.4M ($0.08 EPS) a year ago.
Revenue $48.1M, up 3% YoY; agribusiness revenue $46.7M.
Net debt reduced to $31.5M from $105.0M at FY2022 end, driven by $98.4M Northern Properties sale.
Lowered avocado volume guidance to 3.0-4.0M lbs from 4.0-5.0M lbs; lemon guidance unchanged at 5.0-5.4M cartons.
Recorded $9.0M loss on Cadiz Ranch disposal and $6.1M net settlement from Thomas Fire litigation.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Limoneira CO reported second quarter ended April 30, 2023 results: revenue $48.1 million, EPS $0.10. Guidance reaffirmed.

Period: second quarter ended April 30, 2023
Revenue: $48.1 million
EPS: $0.10
Guidance: reaffirmed
Result: reported results

Exact text from the filing

For the second quarter of fiscal year 2023, total net revenue was $48.1 million, compared to total net revenue of $46.8 million in the second quarter of the previous fiscal year.

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Source: SEC EDGAR

accession 0001342423-23-000018

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