Limoneira Q2 reveue falls on transition to Sunkist for lemon sales

Limoneira

09/06/2026 21:20

Overview
U.S. lemon and avocado grower reported fiscal Q2 revenue of $23.9 mln, compared to last year's $35.1 mln
Adjusted EPS for fiscal Q2 missed analyst expectations
Company raised full-year avocado volume guidance and announced Agromin JV, Paso Robles vineyard sale

Outlook
Company raises FY 2026 avocado volume guidance to 5.5 mln-6.5 mln pounds from 5 mln-6 mln
Company maintains FY 2026 fresh lemon volume guidance at 4 mln-4.5 mln cartons
Limoneira expects positive adjusted EBITDA in Q3 and Q4 FY 2026

Result Drivers
LEMON SALES SHIFT - Co says revenue decline was driven by the transition to Sunkist for lemon sales and marketing, the partnership resulted in a significant shift in the quarterly sales cadence for lemons compared to historical patterns
BUSINESS EXITS - Exit from brokerage, Chilean farming, and farm management businesses further reduced revenue
ASSET IMPAIRMENTS AND DISPOSALS - Higher costs and operating loss due to $9.3 mln impairment of Windfall Farms and $7.8 mln loss on disposal of Arizona lemon orchards

Company press release: ID:nBw3fr7rDa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Beat
$23.93 mln
$21.42 mln (3 Analysts)
Q2 Adjusted EPS
Miss
-$0.29
-$0.21 (3 Analysts)
Q2 EPS
 
-$1.20
 
Q2 Net Loss
 
$22.32 mln
 
Q2 Basic EPS
 
-$1.20
 
Q2 Operating Income
 
-$21.69 mln
 
Q2 Pretax Profit
 
-$27.61 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the fishing & farming peer group is "buy"
Wall Street's median 12-month price target for Limoneira Co is $19.00, about 59.9% above its June 8 closing price of $11.88
The stock recently traded at 64 times the next 12-month earnings vs. a P/E of 150 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)