Limoneira Sheds Non-Strategic Assets, Projects Lemon Volumes Of 7M In 2028
Portfolio Pulse from Lekha Gupta
Limoneira Co (NASDAQ:LMNR) provided a strategic update, including the sale of 4 non-core assets worth $180 million and divestment of unprofitable operations in Cadiz. The company reduced net debt to $31.5 million and terminated its long-term retirement plan for annual savings of $1 million. LMNR expects incremental EBITDA growth of $25 million in the next five years and targets domestic annual lemon volumes of 5.2 million in 2023 and 7.0 million in 2028.
June 26, 2023 | 2:29 pm
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Limoneira Co (LMNR) provided a strategic update, including the sale of non-core assets and debt reduction. The company expects incremental EBITDA growth of $25 million in the next five years and targets domestic annual lemon volumes of 7.0 million in 2028.
The strategic update provided by Limoneira Co (LMNR) is positive for the company's stock price in the short term. The sale of non-core assets and debt reduction will improve the company's financial position, while the projected incremental EBITDA growth and increased lemon volumes indicate potential for future revenue growth.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100