Limoneira LMNR Q3 2026 earnings

“Third quarter results came in below our expectations due to lighter than anticipated lemon sales volume. However, adjusted EBITDA exceeded prior-year third quarter results, and our overall performance reflects our continued efforts to execute our strategic transformation to position Limoneira for long-term value creation. The quarter benefited from higher total agribusiness operating income and progress toward our targeted $10 million in annual selling, general and administrative expense savings, excluding an allowance on foreign receivables. We now expect to achieve the lower end of our lemon volume guidance as a result of higher imports, and we are again raising our avocado volume guidance for fiscal year 2026. Looking ahead, we expect to produce more than 10 million pounds of avocados in fiscal year 2027, an increase of approximately 30 percent over fiscal year 2026. This anticipated growth next year is primarily driven by the 400 acres of avocados we planted in 2023 and 2024, which we expect will set a crop this year and contribute to fiscal year 2027 volumes.”