Limoneira Reiterates Fiscal Year 2016 Guidance Ranges; Comments on Recent Wildfires
SANTA PAULA, CA – As the company looks towards the release of its financial results for its third quarter of the fiscal year on September 8, Limoneira Company has reiterated some key points about the company's goals for 2016.
In a recent press release, Limoneira stated that the company is "not being affected by the current wildfires in California." The company’s operations span around 10,700 acres in both California and Arizona with agricultural land and operations, real estate, and water rights in the states.
The company’s guidance range and financial details for the 2016 fiscal year are expected to fall between the following ranges:
- Operating income: $14.6 million to $15.1 million
- EBITDA: $14.6 million to $15.1 million
- Earnings per diluted share: $0.28 to $0.33
- Earnings per diluted share excluding transaction costs connected to the Limoneira/Lewis joint venture: $0.33 to $0.38
Limoneira also stated that this year’s fiscal year will end on October 31, 2016, and expects to sell between 2.7 million and 3 million cartons of fresh lemons at an average price of around $23.00 per carton.
The company is also projecting to sell around 8.5 to 9.5 million pounds of avocados at approximately $0.80 per pound, during the same timeframe of the 2016 fiscal year.
Limoneira’s third quarter results, which will be released next month, will report the financial results for the quarter that ended on July 31, 2016.
As the company continues expand its offerings across the board, keep up with AndNowUKnow as we report on everything avocados and citrus.