Limoneira CO

Listed Company

LMNRCIK 0001342423NasdaqAcceleratedAgricultural Production-CropsDelawareFY ends Oct 31

Period

FY 2025

Revenue

$159.72M

Net Income

$-15.98M

Total Assets

$311.14M

Equity

$180.03M

Shares Out

18.11M

Op. Cash Flow

$-6.01M

Business

Limoneira Company is an agribusiness and real estate development company that manages agricultural land, water resources and related operations to produce and market fresh fruit and develop real estate. It grows and sells lemons, avocados, oranges and wine grapes, operates lemon packinghouses, provides farm management services, conducts rental operations and organic recycling, and invests in residential and commercial real estate projects. Its business is organized into agribusiness (fresh lemons, lemon packing, avocados and other agribusiness), rental operations and real estate development divisions. Limoneira conducts agricultural activities in California, Arizona, Chile and Argentina and distributes fruit through its packinghouses, direct sales to food service, wholesale and retail customers and third‑party marketing channels.

Summary from filing dated 2025-12-23

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-10-31	FY 2024 2024-10-31	FY 2023 2023-10-31	FY 2022 2022-10-31	FY 2021 2021-10-31
Agribusiness	154	186	174	179	161
Other operations	6	6	6	5	5
Total net revenues	160	192	180	185	166
Agribusiness	155	165	169	161	148
Other operations	4	5	5	4	4
Impairment of intangible asset	0	643,000	0	0	—
Gain on sales of water rights	−1	0	0	—	—
Loss (gain) on disposal of assets, net	706,000	−507,000	−29	−5	109,000
Gain on remeasurement of previously held equity method investment	−3	0	0	—	—
Gain on legal settlement	0	0	−2	0	0
Selling, general and administrative	24	27	26	22	19
Total costs and expenses	180	198	169	182	172
Operating (loss) income	−20	−6	11	2	−6
Interest income	62,000	118,000	364,000	53,000	379,000
Interest expense, net of patronage dividends	−2	−961,000	−494,000	−2	−2
Equity in earnings of investments, net	798,000	18	5	1	3
Other income (expense), net	93,000	212,000	−3	−955,000	89,000
Total other (expense) income	−600,000	18	3	−2	2
(Loss) income before income tax benefit (provision)	−21	12	13	349,000	−4
Income tax benefit (provision)	5	−4	−4	−823,000	266,000
Net (loss) income	−16	7	9	−474,000	−4
Net loss attributable to noncontrolling interests, net	375,000	542,000	283,000	238,000	456,000
Net (loss) income attributable to Limoneira Company	−16	8	9	−236,000	−3
Preferred dividends	−501,000	−501,000	−501,000	−501,000	−501,000
Net (loss) income applicable to common stock	−16	7	9	−737,000	−4
Basic net (loss) income per common share (in dollars per share)	−0.93	0.4	0.5	−0.04	−0.23
Diluted net (loss) income per common share (in dollars per share)	−0.93	0.4	0.5	−0.04	−0.23
Weighted-average common shares outstanding-basic (in shares)	18	18	18	18	18
Weighted-average common shares outstanding-diluted (in shares)	18	18	18	18	18

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-10-31	FY 2024 2024-10-31	FY 2023 2023-10-31	FY 2022 2022-10-31	FY 2021 2021-10-31
Cash	2	3	4	857,000	439,000
Accounts receivable, net	15	15	14	16	17
Cultural costs	2	2	2	9	8
Prepaid expenses and other current assets	4	4	6	8	11
Receivables/other from related parties, net	3	2	4	4	—
Assets held for sale	14	0	—	—	—
Total current assets	40	26	30	38	42
Property, plant and equipment, net	173	162	161	223	242
Real estate development	11	10	10	10	23
Equity in investments	72	82	79	73	64
Goodwill	2	2	2	2	2
Intangible assets, net	3	5	7	7	8
Other assets	11	12	13	17	11
Total assets	311	299	301	369	392
Accounts payable	8	7	10	11	9
Growers and suppliers payable	7	9	10	11	—
Accrued liabilities	9	12	9	11	7
Payables to related parties	6	6	5	5	10
Current portion of long-term debt	31,000	559,000	381,000	2	2
Total current liabilities	30	35	33	39	35
Long-term debt, less current portion	72	40	41	104	130
Deferred income taxes	15	20	22	23	23
Other long-term liabilities	2	1	5	10	5
Total liabilities	120	96	101	177	193
Commitments and contingencies	0	0	0	0	0
Series A Junior Participating Preferred Stock $0.01 par value (20,000 shares authorized: zero issued or outstanding at October 31, 2025 and October 31, 2024)	0	0	0	—	—
Common Stock $0.01 par value (39,000,000 shares authorized: 18,287,868 and 18,284,148 shares issued and 18,036,891 and 18,033,171 shares outstanding at October 31, 2025 and October 31, 2024, respectively)	180,000	180,000	179,000	177,000	179,000
Additional paid-in capital	171	170	168	165	164
Retained earnings	−1	21	19	16	22
Accumulated other comprehensive loss	−6	−7	−6	−8	−6
Treasury stock, at cost, 250,977 shares at October 31, 2025 and October 31, 2024	−3	−3	−3	−3	−3
Noncontrolling interests	19	11	11	12	12
Total stockholders equity	180	192	190	181	188
Total liabilities, convertible preferred stock and stockholders equity	311	299	301	369	392

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-10-31	FY 2024 2024-10-31	FY 2023 2023-10-31	FY 2022 2022-10-31	FY 2021 2021-10-31
Depreciation and amortization	9	8	9	10	10
Gain on legal settlement	0	0	−853,000	0	0
Stock compensation expense	3	4	4	3	3
Non-cash lease expense	2	2	2	442,000	—
Cash distributions from equity investments	10	15	220,000	483,000	219,000
Deferred income taxes	−5	−2	−2	548,000	−189,000
Other, net	3,000	1,000	168,000	2	335,000
Accounts receivable and receivables/other from related parties	466,000	1	815,000	2	−5
Cultural costs	−528,000	454,000	2	−1	−639,000
Prepaid expenses and other current assets	−332,000	353,000	1	−325,000	−1
Other assets	−343,000	−160,000	1	−134,000	−5,000
Accounts payable and growers and suppliers payable	−2	−3	−2	2	5
Accrued liabilities and payables to related parties	−3	4	−3	3	−730,000
Income taxes receivable	−640,000	1	−1	—	—
Other long-term liabilities	1	−2	−3	−49,000	−512,000
Net cash (used in) provided by operating activities	−6	18	−16	15	10
Capital expenditures	−14	−9	−10	−10	−10
Net proceeds from sales of assets	411,000	1	99	19	119,000
Net proceeds from legal settlement	0	0	853,000	0	0
Net proceeds from sale of real estate development assets	0	0	3	8	0
Proceeds from sales of water rights	2	0	0	—	—
Cash distributions from Trapani Fresh	41,000	122,000	122,000	122,000	0
Cash paid to acquire additional shares of Limco Del Mar, net of cash received	−4	0	0	—	—
Collection on notes receivable	68,000	132,000	155,000	3	25,000
Equity investment contributions and capitalized interest	−3	−693,000	−847,000	−48,000	0
Cash distributions from equity investment	297,000	148,000	0	0	106,000
Investments in mutual water companies and water rights	−514,000	−526,000	−523,000	−506,000	−653,000
Net cash (used in) provided by investing activities	−18	−9	91	19	−10
Borrowings of long-term debt	170	176	58	147	102
Repayments of long-term debt	−138	−176	−123	−174	−95
Principal paid on finance leases and equipment financings	−1	−698,000	−491,000	−377,000	−18,000
Dividends paid common	−5	−5	−5	−5	−5
Dividends paid preferred	−501,000	−501,000	−501,000	−501,000	−501,000
Exchange of common stock	−2	−2	−567,000	−2	−700,000
Other	−155,000	0	0	—	—
Net cash provided by (used in) financing activities	23	−9	−72	−34	534,000
Effect of exchange rate changes on cash	33,000	−11,000	−11,000	−328,000	36,000
Net (decrease) increase in cash	−1	−635,000	3	418,000	−62,000
Cash paid during the period for interest (net of amounts capitalized)	1	971,000	652,000	2	2
Cash paid during the period for income taxes, net	707,000	5	7	83,000	−6
Capital expenditures accrued but not paid at period-end	636,000	382,000	309,000	430,000	657,000
Cancellation of loan guarantee related to equity investment	0	1	0	—	—

Filings

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