By Connor Hart
Shares of Limoneira fell 5.7%, to $25.30, in after-hours trading Monday after the agriculture company forecast lower crop yields next year.
The stock--which ended the regular session up 2%, to $26.83--is up 30% since the beginning of the year.
The Santa Paula, Calif., expects to sell between 7 million and 8 million pounds of avocados in 2025, down from the 15.1 million pounds of avocados it sold in 2024. It guided for fresh lemon volumes in the range of 5 million to 5.5 million cartons for 2025.
Limoneira's outlook came as it narrowed its loss to 11 cents in its fiscal fourth quarter, compared with a loss of 20 cents in the same quarter last year. It posted an adjusted loss of 9 cents a share, while revenue rose 6.8%, to $43.9 million.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
December 23, 2024 17:36 ET (22:36 GMT)
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