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Limoneira profit beats consensus by 39.9% in fiscal Q2

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Limoneira profit beats consensus by 39.9% in fiscal Q2

Limoneira Co. said its normalized net income for the fiscal second quarter ended April 30 came to 25 cents per share, compared with the S&P Capital IQ consensus estimate of 18 cents per share.

EPS rose year over year from 8 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $3.6 million, an increase from $1.1 million in the prior-year period.

The normalized profit margin climbed to 9.9% from 4.1% in the year-earlier period.

Total revenue climbed 34.8% on an annual basis to $36.9 million from $27.4 million, and total operating expenses increased 21.5% on an annual basis to $30.6 million from $25.1 million.

Reported net income increased year over year to $3.5 million, or 24 cents per share, from $1.1 million, or 8 cents per share.