Reports Q1 revenue $37.901M, consensus $37.71M. Harold Edwards, President and Chief Executive Officer of the Company, stated, "We ended the first quarter with the announced closing of our Northern Properties sale for approximately $99 million in net cash proceeds. The proceeds were used to significantly reduce our net debt position by 72% from year-end 2022 to $28.9 million. We now expect total proceeds of $180 million from the sale of our identified six non-strategic assets and have successfully closed on the sale of four of these assets for a total of $130 million over the past six months. We have made tremendous progress in a short time, advancing our strategy to monetize certain non-strategic assets, expand our One World of Citrus initiative and execute on Harvest at Limoneira. Management will be meeting with our Board of Directors this month for our annual strategic planning session to implement a new strategic capital allocation plan."
Published first on TheFly
