June 9, 2020 / 8:07 PM / a month ago

BRIEF-Limoneira Company Announces Second Quarter Fiscal Year 2020 Financial Results

Limoneira Co:

* 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

* SEES IMPROVEMENT IN ADJUSTED EBITDA DURING H2 2020

* EXPECTS 300 OF 1,200 ACRES TO BECOME FULL BEARING IN 2021 Source text for Eikon: Further company coverage:

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