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Limoneira fiscal Q3 profit climbs 73.1% YOY

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Limoneira fiscal Q3 profit climbs 73.1% YOY

Limoneira Co. said its normalized net income for the fiscal third quarter ended July 31 was 58 cents per share, compared with the S&P Capital IQ consensus estimate of 62 cents per share.

EPS rose 71.8% year over year from 34 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $8.8 million, an increase of 73.1% from $5.1 million in the prior-year period.

The normalized profit margin climbed to 21.9% from 17.0% in the year-earlier period.

Total revenue climbed 33.9% year over year to $39.9 million from $29.8 million, and total operating expenses rose 17.0% year over year to $25.7 million from $22.0 million.

Reported net income increased on an annual basis to $10.7 million, or 71 cents per share, from $5.3 million, or 36 cents per share.