Limoneira reports first quarter 2026 revenue decline

Leading fruit supplier, Limoneira, announced a steep decline in its first-quarter net revenue due to lower returns on oranges and lemons. The report attributes the steep drop to the business model transition to Sunkist for lemon sales and marketing.

In its first-quarter fiscal year 2026 financial results, the company reports total net revenue of $18.2 million, down $34.3 million from the first quarter of the previous fiscal year.

Lemon prices also declined. In the first quarter of fiscal year 2026, approximately 681,000 cartons of US-packed fresh lemons were sold at an average price of $17.41 per carton, compared to 1,147,000 cartons at $18.44 per carton in the same period of fiscal year 2025.

The report indicates that under the new Sunkist structure, lemon sales volumes will be lower in the first and second quarters of 2026, with improvement expected in the latter half of the year.

Limoneira's transitional decline

Overall agribusiness revenues also decreased to $16.8 million, compared to $32.9 million in the first quarter of the last fiscal year. 

Avocado revenue was $0 in the first quarter of fiscal year 2026, compared to $162,000 in the prior year, due to harvest timing. Orange revenue was $10,000, down from $1.6 million in the same period of fiscal year 2025.

The decline in Limoneira's orange revenue was also attributed to the transition of brokerage operations to Sunkist and the sale of the company’s Chilean agricultural properties.

Additionally, the company closed its brokerage business in the first quarter of fiscal year 2026 and its farm management business during fiscal year 2025, further contributing to the year-over-year revenue decline.

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