Fiscal Q2 2024 net sales of $89.5 millionGross margin increase of 550 basis points year-over-year to 40.4% NORTHLAKE, Texas, Feb. 08, 2024 (GLOBE NEWSWIRE) -- Farmer Brothers (NASDAQ:FARM) today reported its second quarter fiscal 2024 financial results for the period ended Dec. 31, 2023. The company filed its Form 10-Q and published its quarterly shareholder letter, which contains additional details regarding the results. Both of those documents can be found on the Investor Relations section of the company' ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-34249 FARMER BROS. CO. (Exact Name of Registrant as Specified in Its Charter) For the quarterly period ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Incorporation of Organization) (I.R.S. Employe ...

NORTHLAKE, Texas, Jan. 30, 2024 (GLOBE NEWSWIRE) -- Farmer Brothers (NASDAQ: FARM) announced today the company will publish its fiscal second quarter 2024 financial results for the period ended Dec. 31, 2023 with the filing of its 10-Q and the issuing of its quarterly shareholder letter, both of which will be posted on the Investor Relations section of its website after the close of market Thursday, Feb. 8. The company will also host an audio-only investor conference call and webcast at 5 p.m. Eastern on Th ...

Farmer Bros Co (NASDAQ:FARM) Q1 2024 Earnings Conference Call November 9, 2023 5:00 PM ET Company Participants John Moore - Interim CEO & Head of Coffee Brad Bollner - Interim CFO Conference Call Participants Operator Good afternoon, and welcome to the Farmer Brothers fisca first-quarter 2024 earnings conference call. [Operator Instructions]. As a reminder, this call is being recorded. Earlier today, the company issued its quarterly shareholder letter available on the Investor Relations section of Farmer Br ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-34249 FARMER BROS. CO. (Exact Name of Registrant as Specified in Its Charter) Incorporation of Organization) (I.R.S. Employ ...

Farmer Bros. Co. (NASDAQ:FARM) Q4 2023 Earnings Conference Call September 12, 2023 5:00 PM ET Company Participants Deverl Maserang - President, Chief Executive Officer and Director John Moore - Interim Chief Executive Officer Scott Drake - Chief Financial Officer Brad Bollner - Interim Chief Financial Officer Conference Call Participants Operator Hello, good afternoon and welcome to the Farmer Brothers Fiscal Fourth Quarter and Full-Year 2023 Earnings Conference Call. [Operator Instructions] At this time, a ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Securities registered pursuant to Section 12(b) of the Act: For the transition period from to Commission file number: 001-34249 FARMER BROS. CO. (Exact Name of Registrant as Specified in Its Charter) (State or ...

Farmer Bros. Co. (NASDAQ:FARM) Q3 2023 Earnings Conference Call May 10, 2023 8:30 AM ET Company Participants Deverl Maserang - President and Chief Executive Officer Scott Drake - Chief Financial Officer Conference Call Participants Gerry Sweeney - ROTH MKM Operator Good day, and welcome to the Farmer Brothers Fiscal Third Quarter 2023 Earnings Conference Call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session, and instructions will follow at that ...

Financial Performance - Net sales for the three months ended March 31, 2023, increased by $4.8 million, or 4.1%, to $124.2 million compared to $119.4 million in the same period of 2022[167]. - Net sales for the nine months ended March 31, 2023, increased by $32.1 million, or 9.3%, to $378.3 million from $346.2 million in the same period of 2022[167]. - The company reported a net loss of $11.4 million for the three months ended March 31, 2023, compared to a net loss of $4.0 million in the same period of 2022, reflecting an increase in loss of 182.7%[166]. - The company experienced a decline in gross profit of $6.9 million, or 19.4%, for the three months ended March 31, 2023, compared to $35.6 million in the same period of 2022[166]. - Adjusted EBITDA for the three months ended March 31, 2023, was $(776) thousand, compared to $5.0 million in the same period last year[184]. Gross Margin and Profitability - Gross margin for the three months ended March 31, 2023, was 23.1%, down from 29.8% in the same period of 2022, representing a decrease of 6.7 percentage points[162]. - Gross profit for the three months ended March 31, 2023, decreased to $28.7 million, down from $35.6 million in the same period last year, with gross margin declining to 23.1% from 29.8%[169]. - EBITDA for the three months ended March 31, 2023, was $(2.9) million, a decline of 214.1% compared to $2.6 million in the same period of 2022[162]. Sales and Unit Performance - Coffee pounds sold decreased by 2,795 pounds, or 14.9%, to 16,002 pounds in the three months ended March 31, 2023, compared to 18,797 pounds in the same period of 2022[162]. - Unit sales decreased by 13.2% in the three months ended March 31, 2023, while average unit price increased by 19.9%, resulting in a net sales increase of 4.1%[168]. - Average unit price increased due to a higher mix of products sold via the DSD network compared to Direct ship, which has a lower average unit price[168]. Operating Expenses - Operating expenses as a percentage of sales improved to 30.8% for the three months ended March 31, 2023, from 33.1% in the same period of 2022, a favorable change of 2.3 percentage points[162]. - Operating expenses for the three months ended March 31, 2023, decreased by $1.2 million to $38.3 million, representing 30.8% of net sales, down from 33.1% in the prior year[171]. - Operating expenses for the nine months ended March 31, 2023, decreased by $6.0 million to $106.3 million, or 28.1% of net sales, down from 32.4% in the prior year[172]. Interest and Other Expenses - The company incurred interest expenses of $4.2 million for the three months ended March 31, 2023, which is an increase of 164.6% compared to $1.6 million in the same period of 2022[166]. - Total other expense for the three months ended March 31, 2023, increased to $1.8 million compared to $12 thousand in the same period last year[173]. - Interest expense for the three months ended March 31, 2023, increased to $4.2 million from $1.6 million in the prior year, primarily due to higher interest rates[174]. Capital Expenditures and Liquidity - Capital expenditures related to maintenance for the three months ended March 31, 2023, were $3.4 million, an increase of 13.9% from $3.0 million in the same period of 2022[162]. - The company anticipates capital expenditures between $14.0 million to $16.0 million for fiscal 2023, with $11.1 million spent in the nine months ended March 31, 2023[205]. - As of March 31, 2023, the company had outstanding borrowings of $67.0 million on the Revolver Credit Facility and $45.4 million under the Term Loan Facility, with a weighted average interest rate of 6.15%[214]. - The company expects to fund its long-term liquidity needs through operating cash flows and the Revolver Credit Facility, which had $16.4 million available as of March 31, 2023[200]. - The company had $7.3 million of unrestricted cash and cash equivalents and $0.2 million in restricted cash as of March 31, 2023[200]. Compliance and Future Outlook - The company is in compliance with all covenants under the Credit Facilities as of March 31, 2023, but anticipates potential noncompliance beginning June 30, 2023[195][196]. - A hypothetical 10% increase in coffee commodity prices could result in a $1.886 million increase in net loss related to coffee-related derivative instruments[218]. - Depreciation and amortization expenses were $16.7 million for the nine months ended March 31, 2023, with an expectation of approximately $5.0 million to $6.0 million for the quarter ending June 30, 2023[206].

Farmer Bros. Co. (NASDAQ:FARM) Q2 2023 Earnings Conference Call February 8, 2023 5:00 PM ET Company Participants Deverl Maserang – President and Chief Executive Officer Scott Drake – Chief Financial Officer Conference Call Participants Gerry Sweeney – ROTH MKM Operator Good afternoon, and welcome to the Farmer Bros. Fiscal Second Quarter 2023 Earnings Conference Call. [Operator Instructions] As a reminder, this call is being recorded. Joining me today are Deverl Maserang, President and Chief Executive Offic ...