Limoneira raises Harvest proceeds 46% to $180M; targets $45-55M EBITDA by FY2030

Limoneira CO

2024-Q2 EPS reported $0.15 revenue$84,337,000

Q2 FY2024 net income $6.4M ($0.35 diluted EPS) vs. loss of $1.7M ($0.10) YoY; adjusted EPS $0.44.
Non-GAAP adjusted EBITDA $16.6M, more than double prior-year $6.2M, driven by Harvest JV momentum.
Harvest JV closed 554 homesites (Phase 2) and attained 550 additional entitled lots (total 2,050).
Expected total future proceeds from Harvest raised 46% to $180M over 7 years; $18M projected in FY2024.
Avocado volume guidance raised to 9-10M lbs (from 7-8M); plans to plant 1,000 new avocado acres by FY2027.

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