Limoneira Company Announces Second Quarter Fiscal Year 2026 Financial Results
Reports Second Quarter Revenue of
Full Year Fiscal 2026 Avocado Volume Guidance Increased to 5.5 Million to 6.5
Agromin Joint Venture Agreement Executed, Creating Potential High-Return Platform Expected to Generate Substantial Shared Earnings While Optimizing Underutilized Land and Conserved Water
Expected Fiscal Year 2026 Monetization of Paso Robles Vineyard Asset Through
Water Monetization Strategy on Track for Fiscal Year 2026
The Company continues to execute on its value creation strategy of growing agriculture income and monetizing land and water assets.
-
Agriculture initiatives include:
- Streamlining operations;
- Expanding avocado production;
- Optimizing lemon packing with recently announced Sunkist partnership; and
- Expanding organic recycling facility.
-
Land and water assets initiatives include:
- Selling non-strategic land assets (remaining near-term pipeline); and
- Selling certain water rights (near and medium-term pipeline).
Management Comments
Beyond our core agricultural business, we continue to unlock value from our diversified asset base. This quarter, we completed two strategic initiatives: our
We expect the second half of fiscal year 2026 to be our seasonally strongest period. Our third and fourth quarters should benefit from higher lemon volumes under the Sunkist agreement, increased avocado volumes as we strategically delayed harvest timing to capture expected better pricing, and continued operational efficiency. We expect to achieve positive adjusted EBITDA in the third and fourth quarters of fiscal year 2026. We are building a more focused, more efficient
Fiscal Year 2026 Second Quarter Results
For the second quarter of fiscal year 2026, total net revenues were
Agribusiness revenues in the second quarter of fiscal year 2026 include
The Company recognized nominal avocado revenue in the second quarter of fiscal year 2026, compared to
The Company recognized nominal orange revenue in the second quarter of fiscal year 2026, compared to
The Company recognized nominal specialty citrus and wine grape revenues in the second quarter of fiscal year 2026, compared to
Due to the termination of the Farm Management Agreement with
Total costs and expenses in the second quarter of fiscal year 2026 were
Operating loss for the second quarter of fiscal year 2026 was
In
Net loss applicable to common stock, after preferred dividends, for the second quarter of fiscal year 2026 was
Adjusted net loss for diluted EPS in the second quarter of fiscal year 2026 was
Non-GAAP adjusted EBITDA was a loss of
Fiscal Year 2026 First Six Months Results
For the six months ended
Operating loss for the first six months of fiscal year 2026 was
Net loss applicable to common stock, after preferred dividends, was
For the first six months of fiscal year 2026, adjusted net loss for diluted EPS was
Balance Sheet and Liquidity
During the first six months of fiscal year 2026, net cash used in operating activities was
Long-term debt as of
Land and Water Asset Monetization
In
In
In
In
In
Fiscal Year 2026 Guidance and Longer-Term Outlook
The Company continues to expect fresh lemon volumes to be in the range of 4.0 million to 4.5 million cartons for fiscal year 2026.
The Company now expects avocado volumes to be in the range of 5.5 million to 6.5 million pounds for fiscal year 2026, compared to the prior expectation of 5.0 million to 6.0 million pounds.
The Company expects to receive total proceeds of approximately
Harvest at Limoneira Cash Flow Projections (in millions)
|
Fiscal Year |
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2024 Actual |
|
2025 Actual |
|
2026 |
|
2027 |
|
2028 |
|
2029 |
|
2030 |
|
Projected Distributions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The Company has 800 acres of non-bearing avocados estimated to become full bearing over the next two to four years, which the Company expects will enable strong organic growth in the coming years. Additionally, the Company plans to continue expanding its plantings of avocados over the next two fiscal years. The foregoing describes organic growth opportunities and does not include potential acquisition opportunities for the Company in its highly fragmented industry.
Conference Call Information
The Company will host a conference call to discuss its financial results on
About Limoneira Company
Limoneira Company, a 133-year-old international agribusiness headquartered in Santa Paula, California, has become one of the premier integrated agribusinesses in the world. Limoneira (lē moñ âra) is a dedicated sustainability company with 7,000 acres of rich agricultural lands, real estate properties, and water rights in California, Arizona and Argentina. The Company is a leading producer of lemons and avocados that are enjoyed throughout the world. For more about Limoneira Company, visit www.limoneira.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on Limoneira’s current expectations about future events and can be identified by terms such as “could,” “expect,” “may,” “anticipate,” “outlook,” “plans,” “project,” “potential,” “believe,” “intend,” “should,” “will,” “likely,” “strive,” “estimate,” and similar expressions referring to future periods.
Limoneira believes the expectations reflected in the forward-looking statements are reasonable but cannot guarantee future results, level of activity, performance or achievements. Actual results may differ materially from those expressed or implied in the forward-looking statements. Therefore, Limoneira cautions you against relying on any of these forward-looking statements. Factors that may cause future outcomes to differ materially from those foreseen in forward-looking statements include, but are not limited to: success in executing the Company’s business plans and strategies, including the transition of the Company's lemon sales and marketing to Sunkist Growers Inc. and the earnings of the newly formed joint venture with Agromin and managing the risks involved in the foregoing; the ability of the transition to Sunkist to improve efficiency and reduce cost; changes in laws, regulations, rules, quotas, tariffs and import laws; weather conditions that affect production, transportation, storage, import and export of fresh produce; increased pressure from crop disease, insects and other pests; disruption of water supplies or changes in water allocations; disruption in the global supply chain; pricing and supply of raw materials and products; market responses to industry volume pressures; pricing and supply of energy; inability to pay debt obligations; ability to maintain compliance with debt covenants under our loan agreements or obtain modifications, waivers or deferrals of such covenants; changes in interest rates and the impact of inflation; availability of financing for land development activities; general economic conditions for residential and commercial real estate development; political changes and economic crises; international conflict; acts of terrorism; labor disruptions, strikes or work stoppages; government restrictions on land use; the impact of foreign exchange rate movements; loss of important intellectual property rights; and market and pricing risks due to concentrated ownership of stock. Other risks and uncertainties include, among others, those that are described in Limoneira’s SEC filings that are available on the SEC’s website at http://www.sec.gov. Limoneira undertakes no obligation to subsequently update or revise the forward-looking statements made in this press release, except as required by law.
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CONSOLIDATED BALANCE SHEETS (UNAUDITED) |
|||||||
|
(in thousands, except share and per share data) |
|||||||
|
|
|
|
|
||||
|
Assets |
|
|
|
||||
|
Current assets: |
|
|
|
||||
|
Cash |
$ |
891 |
|
|
$ |
1,509 |
|
|
Accounts receivable, net |
|
12,310 |
|
|
|
15,432 |
|
|
Cultural costs |
|
3,530 |
|
|
|
2,406 |
|
|
Prepaid expenses and other current assets |
|
4,961 |
|
|
|
4,444 |
|
|
Receivables/other from related parties, net |
|
1,446 |
|
|
|
2,973 |
|
|
Assets held for sale |
|
18,249 |
|
|
|
13,718 |
|
|
Total current assets |
|
41,387 |
|
|
|
40,482 |
|
|
Property, plant and equipment, net |
|
140,861 |
|
|
|
172,645 |
|
|
Real estate development |
|
11,497 |
|
|
|
10,628 |
|
|
Equity in investments |
|
73,638 |
|
|
|
72,167 |
|
|
|
|
1,373 |
|
|
|
1,506 |
|
|
Intangible assets, net |
|
2,326 |
|
|
|
2,621 |
|
|
Other assets |
|
22,766 |
|
|
|
11,088 |
|
|
Total assets |
$ |
293,848 |
|
|
$ |
311,137 |
|
|
|
|
|
|
||||
|
Liabilities, Convertible Preferred Stock and Stockholders’ Equity |
|
|
|
||||
|
Current liabilities: |
|
|
|
||||
|
Accounts payable |
$ |
7,068 |
|
|
$ |
7,896 |
|
|
Growers and suppliers payable |
|
4,428 |
|
|
|
6,885 |
|
|
Accrued liabilities |
|
7,434 |
|
|
|
9,290 |
|
|
Payables to related parties |
|
5,341 |
|
|
|
5,989 |
|
|
Current portion of long-term debt |
|
408 |
|
|
|
31 |
|
|
Total current liabilities |
|
24,679 |
|
|
|
30,091 |
|
|
Long-term liabilities: |
|
|
|
||||
|
Long-term debt, less current portion |
|
93,712 |
|
|
|
72,450 |
|
|
Deferred income taxes |
|
7,111 |
|
|
|
15,378 |
|
|
Other long-term liabilities |
|
4,613 |
|
|
|
2,381 |
|
|
Total liabilities |
|
130,115 |
|
|
|
120,300 |
|
|
Commitments and contingencies |
|
— |
|
|
|
— |
|
|
Series B Convertible Preferred Stock – |
|
1,479 |
|
|
|
1,479 |
|
|
Series B-2 Convertible Preferred Stock – |
|
9,331 |
|
|
|
9,331 |
|
|
Stockholders’ equity: |
|
|
|
||||
|
Series A Junior Participating Preferred Stock – |
|
— |
|
|
|
— |
|
|
Common Stock – |
|
181 |
|
|
|
180 |
|
|
Additional paid-in capital |
|
171,587 |
|
|
|
171,365 |
|
|
Accumulated deficit |
|
(33,400 |
) |
|
|
(1,070 |
) |
|
Accumulated other comprehensive loss |
|
(309 |
) |
|
|
(6,270 |
) |
|
|
|
(3,493 |
) |
|
|
(3,493 |
) |
|
Noncontrolling interests |
|
18,357 |
|
|
|
19,315 |
|
|
Total stockholders' equity |
|
152,923 |
|
|
|
180,027 |
|
|
Total liabilities, convertible preferred stock and stockholders’ equity |
$ |
293,848 |
|
|
$ |
311,137 |
|
|
|
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CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) |
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|
(in thousands, except per share data) |
|||||||||||||||
|
|
Three Months Ended
|
|
Six Months Ended
|
||||||||||||
|
|
|
2026 |
|
|
|
2025 |
|
|
|
2026 |
|
|
|
2025 |
|
|
Net revenues: |
|
|
|
|
|
|
|
||||||||
|
Agribusiness |
$ |
22,530 |
|
|
$ |
33,582 |
|
|
$ |
39,286 |
|
|
$ |
66,434 |
|
|
Other operations |
|
1,396 |
|
|
|
1,537 |
|
|
|
2,845 |
|
|
|
2,990 |
|
|
Total net revenues |
|
23,926 |
|
|
|
35,119 |
|
|
|
42,131 |
|
|
|
69,424 |
|
|
Costs and expenses: |
|
|
|
|
|
|
|
||||||||
|
Agribusiness |
|
23,158 |
|
|
|
31,704 |
|
|
|
46,177 |
|
|
|
65,203 |
|
|
Other operations |
|
1,011 |
|
|
|
1,009 |
|
|
|
2,082 |
|
|
|
2,180 |
|
|
Impairment of assets |
|
9,324 |
|
|
|
— |
|
|
|
9,324 |
|
|
|
— |
|
|
Gain on sales of water rights |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(1,488 |
) |
|
Loss and expected loss on disposal of assets, net |
|
7,821 |
|
|
|
18 |
|
|
|
7,894 |
|
|
|
12 |
|
|
Other operating income |
|
(1,114 |
) |
|
|
— |
|
|
|
(1,114 |
) |
|
|
— |
|
|
Selling, general and administrative |
|
5,420 |
|
|
|
5,733 |
|
|
|
10,013 |
|
|
|
12,208 |
|
|
Total costs and expenses |
|
45,620 |
|
|
|
38,464 |
|
|
|
74,376 |
|
|
|
78,115 |
|
|
Operating loss |
|
(21,694 |
) |
|
|
(3,345 |
) |
|
|
(32,245 |
) |
|
|
(8,691 |
) |
|
Other (expense) income: |
|
|
|
|
|
|
|
||||||||
|
Interest income |
|
116 |
|
|
|
13 |
|
|
|
124 |
|
|
|
28 |
|
|
Interest expense, net of patronage dividends |
|
(560 |
) |
|
|
(228 |
) |
|
|
(1,339 |
) |
|
|
(488 |
) |
|
Equity in (losses) earnings of investments, net |
|
(387 |
) |
|
|
491 |
|
|
|
(211 |
) |
|
|
593 |
|
|
Other (expense) income, net |
|
(5,080 |
) |
|
|
5 |
|
|
|
(5,943 |
) |
|
|
16 |
|
|
Total other (expense) income |
|
(5,911 |
) |
|
|
281 |
|
|
|
(7,369 |
) |
|
|
149 |
|
|
Loss before income tax benefit (provision) |
|
(27,605 |
) |
|
|
(3,064 |
) |
|
|
(39,614 |
) |
|
|
(8,542 |
) |
|
Income tax benefit (provision) |
|
5,281 |
|
|
|
(301 |
) |
|
|
7,977 |
|
|
|
2,106 |
|
|
Net loss |
|
(22,324 |
) |
|
|
(3,365 |
) |
|
|
(31,637 |
) |
|
|
(6,436 |
) |
|
Net loss attributable to noncontrolling interests, net |
|
904 |
|
|
|
4 |
|
|
|
790 |
|
|
|
1 |
|
|
Net loss attributable to |
|
(21,420 |
) |
|
|
(3,361 |
) |
|
|
(30,847 |
) |
|
|
(6,435 |
) |
|
Preferred dividends |
|
— |
|
|
|
(126 |
) |
|
|
(125 |
) |
|
|
(251 |
) |
|
Net loss applicable to common stock |
$ |
(21,420 |
) |
|
$ |
(3,487 |
) |
|
$ |
(30,972 |
) |
|
$ |
(6,686 |
) |
|
|
|
|
|
|
|
|
|
||||||||
|
Basic net loss per common share |
$ |
(1.20 |
) |
|
$ |
(0.20 |
) |
|
$ |
(1.74 |
) |
|
$ |
(0.38 |
) |
|
|
|
|
|
|
|
|
|
||||||||
|
Diluted net loss per common share |
$ |
(1.20 |
) |
|
$ |
(0.20 |
) |
|
$ |
(1.74 |
) |
|
$ |
(0.38 |
) |
|
|
|
|
|
|
|
|
|
||||||||
|
Weighted-average common shares outstanding-basic |
|
17,925 |
|
|
|
17,825 |
|
|
|
17,917 |
|
|
|
17,808 |
|
|
Weighted-average common shares outstanding-diluted |
|
17,925 |
|
|
|
17,825 |
|
|
|
17,917 |
|
|
|
17,808 |
|
Non-GAAP Financial Measures
Due to significant depreciable assets associated with the nature of the Company’s operations and interest costs associated with the Company's capital structure, management believes that earnings before interest, income taxes, depreciation and amortization ("EBITDA") and adjusted EBITDA, which excludes stock-based compensation, impairment of assets, loss and expected loss on disposal of assets, net and foreign currency losses, are important measures to evaluate the Company's results of operations between periods on a more comparable basis. Beginning in fiscal year 2026, adjusted EBITDA excludes foreign currency losses, as management believes this is a better representation of cash generated by operations. Foreign currency losses were immaterial in fiscal year 2025 and, therefore, were not separately adjusted. Such measurements are not prepared in accordance with
EBITDA and adjusted EBITDA are summarized and reconciled to net loss attributable to
|
|
Three Months Ended
|
|
Six Months Ended
|
||||||||||||
|
|
|
2026 |
|
|
|
2025 |
|
|
|
2026 |
|
|
|
2025 |
|
|
Net loss attributable to |
$ |
(21,420 |
) |
|
$ |
(3,361 |
) |
|
$ |
(30,847 |
) |
|
$ |
(6,435 |
) |
|
Interest income |
|
(116 |
) |
|
|
(13 |
) |
|
|
(124 |
) |
|
|
(28 |
) |
|
Interest expense, net of patronage dividends |
|
560 |
|
|
|
228 |
|
|
|
1,339 |
|
|
|
488 |
|
|
Income tax (benefit) provision |
|
(5,281 |
) |
|
|
301 |
|
|
|
(7,977 |
) |
|
|
(2,106 |
) |
|
Depreciation and amortization |
|
2,014 |
|
|
|
2,109 |
|
|
|
4,172 |
|
|
|
4,125 |
|
|
EBITDA |
|
(24,243 |
) |
|
|
(736 |
) |
|
|
(33,437 |
) |
|
|
(3,956 |
) |
|
Stock-based compensation |
|
302 |
|
|
|
551 |
|
|
|
646 |
|
|
|
1,483 |
|
|
Impairment of assets |
|
9,324 |
|
|
|
— |
|
|
|
9,324 |
|
|
|
— |
|
|
Loss and expected loss on disposal of assets, net |
|
7,821 |
|
|
|
18 |
|
|
|
7,894 |
|
|
|
12 |
|
|
Foreign currency losses |
|
5,078 |
|
|
|
— |
|
|
|
6,121 |
|
|
|
— |
|
|
Adjusted EBITDA |
$ |
(1,718 |
) |
|
$ |
(167 |
) |
|
$ |
(9,452 |
) |
|
$ |
(2,461 |
) |
The following is a reconciliation of net loss attributable to
|
|
Three Months Ended
|
|
Six Months Ended
|
||||||||||||
|
|
|
2026 |
|
|
|
2025 |
|
|
|
2026 |
|
|
|
2025 |
|
|
Net loss attributable to |
$ |
(21,420 |
) |
|
$ |
(3,361 |
) |
|
$ |
(30,847 |
) |
|
$ |
(6,435 |
) |
|
Effect of preferred stock and unvested, restricted stock |
|
(125 |
) |
|
|
(142 |
) |
|
|
(264 |
) |
|
|
(287 |
) |
|
Stock-based compensation |
|
302 |
|
|
|
551 |
|
|
|
646 |
|
|
|
1,483 |
|
|
Impairment of assets |
|
9,324 |
|
|
|
— |
|
|
|
9,324 |
|
|
|
— |
|
|
Loss and expected loss on disposal of assets, net |
|
7,821 |
|
|
|
18 |
|
|
|
7,894 |
|
|
|
12 |
|
|
Foreign currency losses |
|
5,078 |
|
|
|
— |
|
|
|
6,121 |
|
|
|
— |
|
|
Tax effect of adjustments at federal and state rates |
|
(6,203 |
) |
|
|
(156 |
) |
|
|
(6,605 |
) |
|
|
(411 |
) |
|
Adjusted net loss for diluted EPS |
$ |
(5,223 |
) |
|
$ |
(3,090 |
) |
|
$ |
(13,731 |
) |
|
$ |
(5,638 |
) |
|
|
|
|
|
|
|
|
|
||||||||
|
Diluted net loss per common share |
$ |
(1.20 |
) |
|
$ |
(0.20 |
) |
|
$ |
(1.74 |
) |
|
$ |
(0.38 |
) |
|
Adjusted diluted net loss per common share |
$ |
(0.29 |
) |
|
$ |
(0.17 |
) |
|
$ |
(0.77 |
) |
|
$ |
(0.32 |
) |
|
|
|
|
|
|
|
|
|
||||||||
|
Weighted-average common shares outstanding - diluted |
|
17,925 |
|
|
|
17,825 |
|
|
|
17,917 |
|
|
|
17,808 |
|
|
Adjusted weighted-average common shares outstanding - diluted |
|
17,925 |
|
|
|
17,825 |
|
|
|
17,917 |
|
|
|
17,808 |
|
|
Supplemental Information |
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|
(in thousands): |
|||||||||||||||||
|
|
Agribusiness Segment Information for the Three Months Ended |
||||||||||||||||
|
|
Fresh Lemons |
Lemon Packing |
Avocados |
Other Agribusiness |
Total Agribusiness |
||||||||||||
|
Revenues from external customers |
$ |
10,512 |
|
$ |
11,339 |
$ |
273 |
$ |
406 |
|
$ |
22,530 |
|
||||
|
Costs and expenses, excluding depreciation and amortization: |
|
|
|
|
|
||||||||||||
|
Labor and benefits |
|
— |
|
|
4,305 |
|
— |
|
— |
|
|
4,305 |
|
||||
|
Packing supplies and fruit treatments |
|
— |
|
|
2,452 |
|
— |
|
— |
|
|
2,452 |
|
||||
|
Harvest costs |
|
1,011 |
|
|
— |
|
53 |
|
(54 |
) |
|
1,010 |
|
||||
|
Growing costs |
|
948 |
|
|
— |
|
157 |
|
67 |
|
|
1,172 |
|
||||
|
Third party grower and supplier costs |
|
9,450 |
|
|
— |
|
— |
|
2 |
|
|
9,452 |
|
||||
|
Other segment items |
|
— |
|
|
2,990 |
|
— |
|
— |
|
|
2,990 |
|
||||
|
Total costs and expenses, excluding depreciation and amortization |
|
11,409 |
|
|
9,747 |
|
210 |
|
15 |
|
|
21,381 |
|
||||
|
Depreciation and amortization |
|
— |
|
|
— |
|
— |
|
— |
|
|
1,777 |
|
||||
|
Operating (loss) income |
$ |
(897 |
) |
$ |
1,592 |
$ |
63 |
$ |
391 |
|
$ |
(628 |
) |
||||
|
|
Agribusiness Segment Information for the Three Months Ended |
|||||||||||||
|
|
Fresh Lemons |
Lemon Packing |
Avocados |
Other Agribusiness |
Total Agribusiness |
|||||||||
|
Revenues from external customers |
$ |
13,456 |
$ |
13,848 |
$ |
2,780 |
$ |
3,498 |
$ |
33,582 |
||||
|
Costs and expenses, excluding depreciation and amortization: |
|
|
|
|
|
|||||||||
|
Labor and benefits |
|
— |
|
4,544 |
|
— |
|
— |
|
4,544 |
||||
|
Packing supplies and fruit treatments |
|
— |
|
2,830 |
|
— |
|
— |
|
2,830 |
||||
|
Harvest costs |
|
1,110 |
|
— |
|
237 |
|
10 |
|
1,357 |
||||
|
Growing costs |
|
1,523 |
|
— |
|
1,386 |
|
457 |
|
3,366 |
||||
|
Third party grower and supplier costs |
|
10,450 |
|
— |
|
— |
|
1,988 |
|
12,438 |
||||
|
Other segment items |
|
— |
|
4,752 |
|
— |
|
551 |
|
5,303 |
||||
|
Total costs and expenses, excluding depreciation and amortization |
|
13,083 |
|
12,126 |
|
1,623 |
|
3,006 |
|
29,838 |
||||
|
Depreciation and amortization |
|
— |
|
— |
|
— |
|
— |
|
1,866 |
||||
|
Operating income |
$ |
373 |
$ |
1,722 |
$ |
1,157 |
$ |
492 |
$ |
1,878 |
||||
|
Supplemental Information (continued) |
|||||||||||||
|
(in thousands, except acres and average price amounts): |
|||||||||||||
|
Lemons |
Q2 2026 |
Q2 2025 |
|
Lemon Packing |
Q2 2026 |
Q2 2025 |
|||||||
|
|
|
|
|
Cartons packed and sold |
|
1,028 |
|
1,357 |
|||||
|
Acres harvested |
|
1,300 |
|
|
1,600 |
|
Revenue |
$ |
11,339 |
$ |
13,848 |
||
|
|
|
103 |
|
|
108 |
|
Direct costs |
$ |
9,747 |
$ |
12,126 |
||
|
Third-party grower cartons sold |
|
925 |
|
|
1,249 |
|
Operating income |
$ |
1,592 |
$ |
1,722 |
||
|
Average price per carton |
$ |
16.63 |
|
$ |
14.52 |
|
|
|
|
||||
|
|
|
|
|
Avocados |
Q2 2026 |
Q2 2025 |
|||||||
|
|
|
|
|
Pounds sold |
|
285 |
|
1,232 |
|||||
|
Lemon revenue |
$ |
(33 |
) |
$ |
1,677 |
|
Average price per pound |
$ |
0.96 |
$ |
2.26 |
||
|
40-pound carton equivalents |
|
— |
|
|
220 |
|
|
|
|
||||
|
|
|
|
|
|
|
|
|||||||
|
Other: |
|
|
|
|
|
|
|||||||
|
Pack handling |
$ |
4,358 |
|
$ |
4,652 |
|
|
|
|
||||
|
Lemon by-product sales |
$ |
327 |
|
$ |
573 |
|
|
|
|
||||
|
Brokered lemons and other lemon sales |
$ |
102 |
|
$ |
704 |
|
|
|
|
||||
|
|
|
|
|
|
|
|
|||||||
|
Agribusiness Costs and Expenses |
Q2 2026 |
Q2 2025 |
|
|
|
|
|||||||
|
Packing costs |
$ |
9,747 |
|
$ |
12,126 |
|
|
|
|
||||
|
Harvest costs |
|
1,010 |
|
|
1,357 |
|
|
|
|
||||
|
Growing costs |
|
1,172 |
|
|
3,366 |
|
|
|
|
||||
|
Third-party grower and supplier costs |
|
9,452 |
|
|
12,438 |
|
|
|
|
||||
|
Other costs |
|
— |
|
|
551 |
|
|
|
|
||||
|
Depreciation and amortization |
|
1,777 |
|
|
1,866 |
|
|
|
|
||||
|
Agribusiness costs and expenses |
$ |
23,158 |
|
$ |
31,704 |
|
|
|
|
||||
View source version on businesswire.com: https://www.businesswire.com/news/home/20260609904614/en/
Investors
Managing Partner
ICR 646-277-1254
Source: