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Limoneira profit beats consensus by 27.0% in fiscal Q2

Limoneira Co. said its normalized net income for the fiscal second quarter ended April 30 came to 18 cents per share, compared with the S&P Capital IQ consensus estimate of 14 cents per share.

EPS climbed 22.7% year over year from 14 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $2.5 million, an increase of 23.4% from $2.0 million in the prior-year period.

The normalized profit margin climbed to 8.9% from 8.2% in the year-earlier period.

Total revenue grew 14.0% on an annual basis to $28.3 million from $24.8 million, and total operating expenses climbed 11.9% from the prior-year period to $24.1 million from $21.6 million.

Reported net income rose 13.9% year over year to $2.4 million, or 17 cents per share, from $2.1 million, or 15 cents per share.