The company’s food service business and industry logistics continue to experience slowdown in its supply chain as well as inflationary pressures on a global basis. The company believes it will experience improving year-over-year results in fiscal year 2023 compared to fiscal year 2022 due to its stronger position in retail food and club grocery. The company expects fresh lemon volumes to be in the range of 5.0 million to 5.4 million cartons for fiscal year 2023. Avocado volumes are expected to be in the range of 4.0 million to 5.0 million pounds for fiscal year 2023. The company now expects to receive an over 20% increase in total proceeds of $115 million from Harvest at Limoneira and the addition of LLCB II and East Area II spread out over seven fiscal years, with approximately $8 million received in fiscal year 2022.
Published first on TheFly
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