Issue: 182

April 2025

April in Action

With spring on the horizon, the season of growth is in the air! This month, we’re embracing new opportunities, strengthening industry relationships, and continuing to drive innovation across our operations. From sustainability efforts to exciting developments in our orchards, there’s plenty to share as we move forward into a busy season ahead.

Read on to see what’s new at Limoneira!

Board Approves $30 Million Share Repurchase Authorization

Limoneira is pleased to share that its Board of Directors has approved a share repurchase authorization of up to $30 million of the Company’s outstanding common stock. This move reflects strong confidence in the Company’s strategic direction and long-term growth potential.

The repurchase program supports Limoneira’s broader value creation roadmap, which includes monetizing non-core assets, real estate development, land use conversion, expanding avocado production, and water resource optimization.

President and CEO Harold Edwards stated, “The initiation of our share repurchase program reflects our board of directors’ strong confidence in our strategic direction and our conviction that our current share price significantly undervalues Limoneira’s substantial portfolio of opportunities. While we formally concluded our strategic alternatives exploration process, we remain firmly committed to our roadmap of creating stockholder value through multiple avenues: divesting non-core assets, advancing our real estate development initiatives, pursuing land use conversion opportunities, monetizing our valuable water resources, expanding our position as one of the largest avocado growers in the United States, and enhancing our citrus services business. These strategic priorities, combined with our share repurchase program, underscore our comprehensive approach to delivering significant value to our stockholders through both operational excellence and disciplined capital allocation.”

This initiative emphasizes Limoneira’s commitment to thoughtful growth, sound financial planning, and delivering lasting value to shareholders.

Board Member Spotlight:

Harold Edwards

This month, we are proud to highlight Harold Edwards, a dedicated member of Limoneira’s Board of Directors and our President & CEO since 2003. Harold’s leadership extends across both roles, driving the company’s operations while also shaping its long-term strategy, financial growth, and governance at the board level.

As a Board Member, Harold plays a critical role in guiding key decisions that impact the company’s agriculture, real estate, and sustainability initiatives. His ability to navigate the evolving business landscape ensures that Limoneira remains a leader in the industry.

With decades of executive experience and an MBA from the Thunderbird School of Global Management, Harold provides valuable insights into financial strategy, operational efficiency, and industry trends. His leadership on the Board helps align Limoneira’s mission with long-term opportunities, ensuring continued success for shareholders, employees, and the communities we serve.

We are grateful for Harold’s strategic vision and dedication to Limoneira’s future. His leadership at both the executive and board levels continues to shape the company’s path forward.

Limoneira is Heading to CPMA and Viva Fresh

Limoneira is excited to hit the road in April for two key industry events: the CPMA Convention and Trade Show in Montreal and the Viva Fresh Produce Expo in Houston, Texas.

We’ll be at Booth #2646 at CPMA and Booth #418 at Viva Fresh. Stop by to learn more about our premium citrus offerings, sustainability initiatives, and upcoming programs. These events are great opportunities for us to connect with industry partners, strengthen relationships, and showcase how Limoneira continues to deliver top-quality produce around the globe.

We look forward to seeing you there!

Amy Fukutomi Named One of PCBT’s Top 50 Women in Business

We’re proud to share that Amy Fukutomi, Limoneira’s Vice President of Compliance and Corporate Secretary, has once again been recognized by the Pacific Coast Business Times as one of the Top 50 Women in Business.

Amy brings a deep-rooted history in agriculture and leadership to her role. Her family founded the Oxnard Lemon Company in 1985, and she has long been a respected figure in the ag community. Beyond her contributions at Limoneira, Amy is actively involved in several organizations. She is the current director and board secretary of the Boys and Girls Club of Santa Clara Valley, the current director of the Boys and Girls Club of Camarillo, the current board chair of the Ventura County Ag Association, and the former director of the Ventura County Sheriff’s Foundation.

Amy’s dedication, insight, and integrity continue to make a lasting impact on both our company and the greater community. Congratulations, Amy, on another well-deserved honor!

Recipe of the Month: Citrus Infused Ricotta Pie

Hop into Easter with a citrusy twist! 🥧🍋🍊 This Citrus Infused Ricotta Pie is sweet, creamy, and full of bright Limoneira® lemon and orange flavor, thanks to both zesty citrus peel and fresh-squeezed lemon juice!

Ingredients:

🥧Pastry for a double crust (homemade or store-bought)

🍋 2¾ cups whole milk ricotta (well-drained)

🍊 ¾ cup sugar

🥧 ½ tbsp fresh-squeezed Limoneira® lemon juice

🍋 Zest of 1 large Limoneira® lemon – reserve a pinch to sprinkle on top

🍊 Zest of 1 large Limoneira® orange - reserve a pinch to sprinkle on top

🥧 5 large eggs

🍋 1 tbsp pure vanilla

🍊 Small pastel chocolate eggs (for garnish)

Instructions:

1. Preheat oven to 350 degrees
2. In a large bowl with an electric mixer beat the drained ricotta with the sugar until very smooth.
3. Add eggs 1 at a time, beating well after each addition.
4. Beat in the vanilla and lemon juice.
5. Fold in the lemon and orange zest to well combined.
6. Place 1-half of your double pie crust into a 9-inch deep dish pie pan, unbaked.
7. Pour all the filling into the pie shell.
8. Place the whole plate onto a rimmed cookie sheet for easy in and out of the oven.
9. Take the other piece of dough, roll it out and make 6 or 8 strips of dough and place them over the filling in a crisscross design.
10. I usually brush some cream over the top of the crust to make a golden crust, you can do an egg wash as well, then sprinkle the pinch of zest you set aside all over the top.
11. Bake the pie for around 45 minutes or until ricotta is set and a toothpick comes out clean and crust golden.
12. Let it cool down then refrigerate before eating.
13. Garnish with a handful of pastel colored, small size chocolate eggs on top for presentation.

Notes:

1. Make sure you drain your ricotta really well. Excess moisture will affect the cooking time and texture.

From the first to the last bite, this pie is pure spring joy—sweet, simple, and egg-stra special. 🌼🥧

Thank you to @prouditaliancook for this TASTI recipe!

Meet the Cutest New Additions to Our Orchards

This season brought more than just sunshine and blossoms. It also brought two of the cutest helpers to our orchards! Gracie, one of our solar-grazing sheep, recently gave birth to twin lambs, and we couldn’t be more excited to welcome them to the Limoneira family.

These little ones are more than just adorable. They’re joining our sustainable grazing program, helping naturally maintain vegetation around our solar panels while supporting our renewable energy efforts.

Our orchard just got a whole lot more efficient and a whole lot cuter!

Winner of the Month

A little extra sunshine is heading to Columbia, South Carolina. Congratulations to Leigh Timmerman, our April giveaway winner!

Thank you for being part of the Limoneira community. We appreciate your continued support and can’t wait to share more citrus-filled moments with you. Check back next month to see if YOU’ll be our next lucky winner!