Limoneira Boosts Avocado Volume Guidance For FY24; Expects FY25 Avocado Volume To Be Lower Y/Y Due To The Alternate Bearing Nature Of Avocado Trees
Portfolio Pulse from Benzinga Newsdesk
Limoneira has increased its avocado volume guidance for FY24 to 14.5-15.5 million pounds, a significant rise from the previous 9.0-10.0 million pounds. However, FY25 avocado volumes are expected to decrease due to the alternate bearing nature of avocado trees. Fresh lemon volumes for FY24 are revised down to 4.5-5.0 million cartons from 5.0-5.5 million cartons due to late season rains.
September 09, 2024 | 8:08 pm
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POSITIVE IMPACT
Limoneira has significantly increased its avocado volume guidance for FY24, indicating potential revenue growth. However, lemon volumes are revised down due to weather impacts, and FY25 avocado volumes are expected to decrease.
The increase in avocado volume guidance suggests potential revenue growth for FY24, which is positive for Limoneira's stock. However, the reduction in lemon volumes and expected decrease in FY25 avocado volumes due to natural tree cycles may offset some of this positivity. Overall, the immediate impact is likely positive due to the significant increase in avocado volumes.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100