Brief: Limoneira Company Announces Second Quarter Fiscal Year 2020 Financial Results

Limoneira

09/06/2020 21:06

Limoneira Co  LMNR.O :
    * MPANY ANNOUNCES SECOND QUARTER FISCAL YEAR 2020 FINANCIAL
RESULTS
    * Q2 LOSS PER SHARE $0.29
    * Q2 REVENUE $39.6 MILLION VERSUS REFINITIV IBES ESTIMATE OF
$38.9
MILLION
    * Q2 EARNINGS PER SHARE ESTIMATE $0.01 -- REFINITIV IBES
DATA
    * Q2 ADJUSTED LOSS PER SHARE $0.08 EXCLUDING ITEMS
    * Q2 FRESH LEMONS SOLD INCREASED 13.5% TO 1.5 MILLION
CARTONS
    * LIMONEIRA - COVID-19 DRAMATICALLY REDUCED PRICING OF
LEMONS DUE
TO OVERSUPPLY IN NORTH AMERICA
    * EXPORT MARKET FOR FRESH PRODUCT HAS ALSO SIGNIFICANTLY
DECLINED
DUE TO COVID-19
    * IN PARTICULAR, U.S. LEMON MARKET HAS SEEN A SIGNIFICANT
DECLINE
IN VOLUME
    * WITHDRAWING 2020 OUTLOOK
    * CURRENTLY EXPECT RECORD LEMON VOLUMES FOR 2020
    * SEES IMPROVEMENT IN ADJUSTED EBITDA DURING H2 2020
    * EXPECTS 300 OF 1,200 ACRES TO BECOME FULL BEARING IN 2021

Source text for Eikon:  ID:nBw9M5S1sa 
Further company coverage:  LMNR.O