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Agribusiness revenue for Q2 2022 includes $27.3 million in fresh lemon sales

Zoom in font  Zoom out font Published: 2022-06-10  Origin: limoneira.com  Views: 16
Core Tip: For the second quarter of fiscal year 2022, total net revenue was $46.8 million, compared to total net revenue of $45.1 million in the second quarter of the previous fiscal year.
For the second quarter of fiscal year 2022, total net revenue was $46.8 million, compared to total net revenue of $45.1 million in the second quarter of the previous fiscal year. Agribusiness revenue was $45.4 million, compared to $44.0 million in the second quarter of last fiscal year. Other operations revenue was $1.4 million for the second quarter of fiscal year 2022, compared to $1.1 million in the second quarter of the previous fiscal year.

Agribusiness revenue for the second quarter of fiscal year 2022 includes $27.3 million in fresh lemon sales, compared to $28.7 million of fresh lemon sales during the same period of fiscal year 2021. Approximately 1,552,000 cartons of U.S. packed fresh lemons were sold in aggregate during the second quarter of fiscal year 2022 at a $17.57 average price per carton compared to approximately 1,528,000 cartons sold at an $18.79 average price per carton during the second quarter of fiscal year 2021. Lemon revenues in the second quarter of fiscal year 2022 and 2021 included brokered fruit and other lemon sales of $2.7 million and $2.3 million, respectively. Brokered fruit revenue is primarily comprised of packed fruit for resale where the Company is the principal in the transaction.

The Company recognized $3.6 million of avocado revenue in the second quarter of fiscal year 2022, compared to $2.7 million of avocado revenue in the same period last fiscal year. Approximately 1.9 million pounds of avocados were sold in aggregate during the second quarter of fiscal year 2022 at a $1.90 average price per pound, compared to approximately 2.1 million pounds sold at a $1.26 average price per pound during the second quarter of fiscal year 2021.

The Company recognized $2.6 million of orange revenue in the second quarter of fiscal year 2022, compared to $1.4 million in the same period of fiscal year 2021.

Fiscal Year 2022 First Six Months Results
For the six months ended April 30, 2022, revenue was $86.0 million, compared to $83.4 million in the same period last fiscal year. Operating loss for the first six months of fiscal year 2022 was $7.0 million, compared to operating loss of $3.3 million in the same period last fiscal year. Net loss attributable to common stock, after preferred dividends, was $5.2 million for the first six months of fiscal year 2022, compared to net loss attributable to common stock of $2.5 million in the same period last fiscal year. Net loss per diluted share for the first six months of fiscal year 2022 was $0.30, compared to a net loss per diluted share of $0.15 in the same period of fiscal year 2021.

 
 
keywords: lemon lemons
 
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