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Limoneira Co
(NASDAQ:LMNR)
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Rating:53Neutral
Price Target:
$14.00
▲(7.20% Upside)
Action:Reiterated
Date:08/18/26
The score is primarily held back by weak TTM financial performance—losses, negative operating/free cash flow, and rising leverage. Offsetting this, technicals are moderately constructive with price above key moving averages and positive momentum indicators, and the earnings call pointed to a potential H2 FY26 improvement via cost savings, stronger pricing, and monetization plans. Valuation is mixed due to a negative P/E despite a modest dividend yield, while recent corporate events introduce additional impairment-related risk.
Positive Factors
Cost reduction and expected EBITDA recovery
The Sunkist partnership and broader cost changes are designed to lower the recurring expense base. If delivered, the targeted $10M annual savings could improve operating leverage and support a return to positive adjusted EBITDA beyond the current fiscal year.
Negative Factors
Deep losses and negative cash generation
The current business is consuming cash while producing substantial losses, limiting internally funded investment and increasing dependence on asset sales or financing. Persistent negative cash generation would weaken flexibility and make recovery dependent on better pricing, yields, and execution.
Read all positive and negative factors
Positive Factors
Negative Factors
Cost reduction and expected EBITDA recovery
The Sunkist partnership and broader cost changes are designed to lower the recurring expense base. If delivered, the targeted $10M annual savings could improve operating leverage and support a return to positive adjusted EBITDA beyond the current fiscal year.
Read all positive factors
Limoneira Co Key Performance Indicators (KPIs)
Any
Operating Income by Segment
Reveals profitability across different business areas, highlighting which segments drive earnings and where there might be challenges or opportunities for improvement.
Reveals profitability across different business areas, highlighting which segments drive earnings and where there might be challenges or opportunities for improvement.
Data provided by:
The Fly
The FlyLimoneira Co (LMNR) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$251.13M
Dividend Yield2.17%
Average Volume (3M)85.26K
Price to Earnings (P/E)―
Beta (1Y)0.70
Revenue Growth-25.01%
EPS Growth-1680.30%
CountryUS
Employees191
SectorConsumer Defensive
Sector Strength42
IndustryAgricultural Farm Products
Share Statistics
EPS (TTM)-2.28
Shares Outstanding18,132,008
10 Day Avg. Volume86,164
30 Day Avg. Volume85,263
Financial Highlights & Ratios
PEG Ratio0.05
Price to Book (P/B)1.47
Price to Sales (P/S)1.58
P/FCF Ratio-12.89
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit>-0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price Target
$18.00Price Target Upside37.83% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-0.33
Revenue Forecast (FY)$128.07M
Limoneira Co Business Overview & Revenue Model
Company Description
Limoneira Company operates as an agribusiness company in the United States and internationally. The company operates through four segments: Fresh Lemons, Lemon Packing, Avocados, and Other Agribusiness. It produces, processes, harvests, and packs ...
How the Company Makes Money
Limoneira primarily makes money by selling fresh citrus—most notably lemons—into wholesale produce channels. Revenue is generated from (1) growing and harvesting fruit from company-owned and managed groves, (2) packing, sorting, and marketing frui...
Limoneira Co Earnings Call Summary
Earnings Call Date:Jun 09, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Sep 15, 2026
Earnings Call Sentiment Positive
The call presented a mix of near-term financial pain and strategic progress. Q2 GAAP results were materially impacted by noncash impairments, asset disposals and foreign exchange losses, producing significant operating and net losses. However, management emphasized multiple positive developments that support improved future performance: stronger lemon pricing (> $20/carton), higher fresh utilization (>80%), raised avocado volume guidance with higher expected prices, ongoing SG&A savings ($10M target), monetization initiatives (water rights, Windfall Farms partial sale), a large real estate pipeline (~$155M expected proceeds), and an organic recycling JV expected to drive earnings in FY27. Management reiterated confidence in achieving positive adjusted EBITDA in Q3 and Q4 and expects several monetization events to bolster liquidity. Given the balance of substantial strategic catalysts and near-term accounting/headline losses, the overall tone was constructive and forward-looking.Positive Updates
Exceeded Quarterly Expectations on Revenue and Adjusted EBITDA
Company reported Q2 total net revenues of $23.9M and said it exceeded internal expectations for revenue and adjusted EBITDA for the quarter, validating operational improvements under the Sunkist partnership.
Negative Updates
YoY Revenue Decline in Q2
Total net revenues fell to $23.9M in Q2 FY26 from $35.1M in Q2 FY25, a decline of ~31.9%. Agribusiness revenue declined to $22.5M from $33.6M (~-33.0%), driven by the Sunkist cadence shift, exit from brokerage and Chilean farming, and termination of farm management.
Read all updates
Q2-2026 Updates
Positive
Negative
Exceeded Quarterly Expectations on Revenue and Adjusted EBITDA
Company reported Q2 total net revenues of $23.9M and said it exceeded internal expectations for revenue and adjusted EBITDA for the quarter, validating operational improvements under the Sunkist partnership.
Read all positive updates
Company Guidance
Management guided to positive adjusted EBITDA in Q3 and Q4 of FY26 and reiterated full-year fresh lemon volumes of 4.0–4.5 million cartons while raising avocado volume guidance to 5.5–6.5 million pounds; they forecast $10 million of annual SG&A savings in FY26, expect a monetization event for Class 3 Colorado River water rights in FY26, and see $155 million of real estate proceeds over the next five fiscal years. Strategic asset moves include the planned Q4 FY26 closing of an 80% Windfall Farms sale for $16 million ( $10M cash at closing, $6M seller note), a 50/50 AgriMin organic recycling JV able to process up to 295,000 tons annually that should contribute earnings in FY27, and water- and crop-substitution plans on 600 Yuma acres; operationally they note 1,700 acres of avocados planted with ~800 acres currently bearing, another ~800 acres to begin bearing over 2–4 years (nearly doubling capacity), plus 400 acres planted in 2023–24 expected to set a crop this year and add volume in FY27.Limoneira Co Financial Statement Overview
Summary
Income Statement
24
Negative
Balance Sheet
52
Neutral
Cash Flow
18
Very Negative
| Breakdown | TTM | Oct 2025 | Oct 2024 | Oct 2023 | Oct 2022 | Oct 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 132.43M | 159.72M | 191.50M | 179.90M | 184.60M | 166.03M |
| Gross Profit | -8.21M | -530.00K | 21.42M | 6.12M | 19.52M | 13.20M |
| EBITDA | -40.13M | -9.69M | 21.62M | 23.29M | 12.88M | 7.67M |
| Net Income | -40.39M | -15.98M | 7.72M | 9.40M | -474.00K | -3.90M |
Balance Sheet | ||||||
| Total Assets | 293.85M | 318.22M | 298.81M | 301.21M | 368.52M | 392.28M |
| Cash, Cash Equivalents and Short-Term Investments | 891.00K | 1.51M | 3.00M | 3.63M | 857.00K | 439.00K |
| Total Debt | 99.83M | 74.50M | 43.70M | 45.48M | 105.81M | 132.82M |
| Total Liabilities | 130.12M | 127.38M | 96.31M | 100.71M | 176.65M | 193.03M |
| Stockholders Equity | 145.38M | 171.52M | 191.95M | 189.29M | 180.25M | 187.28M |
Cash Flow | ||||||
| Free Cash Flow | -33.01M | -19.55M | 8.44M | -26.18M | 4.76M | -229.00K |
| Operating Cash Flow | -17.93M | -6.01M | 17.85M | -15.87M | 14.83M | 9.61M |
| Investing Cash Flow | -15.55M | -18.35M | -9.19M | 90.58M | 19.43M | -10.24M |
| Financing Cash Flow | 32.39M | 22.84M | -9.29M | -71.92M | -33.52M | 534.00K |
Limoneira Co Technical Analysis
Positive
13.06
Price Trends
13.42
Positive
13.14
Positive
13.48
Positive
Market Momentum
0.17
Negative
55.36
Neutral
37.03
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For LMNR, the sentiment is Positive. The current price of 13.06 is below the 20-day moving average (MA) of 13.67, below the 50-day MA of 13.42, and below the 200-day MA of 13.48, indicating a bullish trend. The MACD of 0.17 indicates Negative momentum. The RSI at 55.36 is Neutral, neither overbought nor oversold. The STOCH value of 37.03 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for LMNR.
Limoneira Co Risk Analysis
Limoneira Co disclosed 46 risk factors in its most recent earnings report. Limoneira Co reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Limoneira Co Peers Comparison
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | $3.88B | 12.58 | 11.82% | 5.33% | -31.68% | -73.76% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
53 Neutral | $251.13M | -6.09 | -24.52% | 2.30% | -25.01% | -1680.30% | |
53 Neutral | $1.60B | 170.26 | 3.03% | 2.80% | 7.20% | -10.41% | |
49 Neutral | $368.14M | -123.32 | -0.70% | 3.81% | 0.76% | -105.51% | |
48 Neutral | $299.04M | 191.95 | 1.50% | 0.52% | -61.38% | ― |
* Consumer Defensive Sector Average
LMNR
Limoneira Co
13.85
-2.00
-12.64%
AGRO
Adecoagro SA
11.07
2.73
32.73%
ALCO
Alico
40.31
5.81
16.85%
CALM
Cal-Maine Foods
82.80
-29.32
-26.15%
LND
BrasilAgro Cia Brasileira de Propriedades Agricolas
3.77
0.03
0.80%
Limoneira Co Corporate Events
Business Operations and StrategyFinancial DisclosuresM&A Transactions
Limoneira sells Paso Robles vineyards, records impairment
Negative
Aug 17, 2026
On August 15, 2026, Limoneira’s subsidiary Windfall Investors, LLC entered a Purchase and Sale Agreement to sell five vineyard properties in Paso Robles, Calif., totaling about 724 acres, for $15 million in cash to a private buyer following ...
Business Operations and StrategyM&A Transactions
Limoneira Retains Paso Robles Assets After Deal Termination
Negative
Jun 18, 2026
On June 15, 2026, Windfall Investors, LLC, a California subsidiary of Limoneira Company, received a written notice from Peak Holdings, LLC terminating a Purchase and Sale Agreement dated April 14, 2026. The agreement had called for the sale of an ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.