Limoneira raises FY24 fresh lemon volumes view to 4.5M-5M cartons

The company said, “The Company now expects avocado volumes to be in the range of 14.5 million to 15.5 million pounds for fiscal year 2024, compared to previous guidance of 9.0 million to 10.0 million pounds, a more than 50% increase compared to prior guidance. We expect to complete the avocado harvest in the fourth quarter with approximately 4.0 million to 5.0 million pounds remaining. The Company now expects fresh lemon volumes to be in the range of 4.5 million to 5.0 million cartons for fiscal year 2024, compared to previous guidance of 5.0 million to 5.5 million cartons, due to lower fresh utilization from late season rains. The lemon harvest for fiscal year 2024 is approximately 85% complete. The Company continues to expect to receive total future proceeds of $180 million from Harvest, LLCB II, LLC and East Area II spread out over the next seven fiscal years.”