Farmer Bros. Co. (NASDAQ:FARM) Q1 2023 Earnings Conference Call November 3, 2022 5:00 PM ET Company Participants Deverl Maserang - President & Chief Executive Officer Scott Drake - Chief Financial Officer Conference Call Participants Gerry Sweeney - ROTH Capital Operator Good afternoon, ladies and gentlemen, and welcome to the Farmer Brothers Fiscal First 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 ...

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, 2022 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) Delaware 95-0725980 (State or Other Jurisdict ...

Farmer Bros. Co. (NASDAQ:FARM) Q4 2022 Earnings Conference Call September 1, 2022 5:00 PM ET Company Participants Jeff Majtyka - Ellipsis IR Deverl Maserang - President and CEO Scott Drake - CFO Conference Call Participants Gerry Sweeney - ROTH Capital Operator Good day, and welcome to the Farmer Brothers Fiscal Fourth Quarter 2022 Earnings Conference Call. All participants will be in a listen-only mode. [Operator Instructions]. After today's presentation there'll be an opportunity to ask questions, [Operat ...

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, 2022 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) Delaware 95-0725980 (State or other jurisdiction of incorporation or ...

Farmer Bros. Co. (NASDAQ:FARM) Q3 2022 Results Conference Call May 5, 2022 4:00 PM ET Company Participants Deverl Maserang - President and CEO Scott Drake - CFO Conference Call Participants Gerry Sweeney - ROTH Capital Operator Good afternoon, ladies and gentlemen, and welcome to the Farmer Bros. Financial (sic) [Fiscal] Third Quarter’s 2022 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 a ...

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 March 31, 2022 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) Delaware 95-0725980 (State or Other Jurisdiction ...

Financial Data and Key Metrics Changes - For the second fiscal quarter, net sales increased by approximately $10 million sequentially and grew nearly $14 million year-over-year, representing a 13% increase compared to the prior year period [6][18] - Gross margin expanded by 50 basis points sequentially to 29.5% and by 440 basis points compared to the prior year period, marking the strongest quarterly gross margin since fiscal Q2 of 2019 [6][19] - Adjusted EBITDA was $4.5 million compared to $8.3 million in the prior-year period, with a year-over-year improvement of $3.4 million when excluding a one-time benefit from the previous year [22] Business Line Data and Key Metrics Changes - DSD sales volumes improved, with average weekly DSD sales down 17% from pre-COVID levels, an improvement from down 40% in the prior year period [8][15] - Direct ship sales were down 6.8% and pounds down 15.6% compared to the prior year, primarily due to the exit of less profitable accounts [16][17] Market Data and Key Metrics Changes - The company experienced strong sales in individual weeks in November and early December before the Omicron variant impacted sales [9] - The average DSD sales volumes showed a sequential improvement from down 25% in the first fiscal quarter to down 17% in the second fiscal quarter [15] Company Strategy and Development Direction - The company is focusing on cost savings opportunities, particularly in procurement and optimizing the flow of goods throughout its network [12] - The rebranding of the coffee brewing equipment business to "Revive" is ongoing, with progress in adding new branded trucks and launching a new website [13] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the overall health of the business and its market position, despite challenges from the Omicron variant and supply chain issues [9][14] - The company anticipates that benefits from recent price increases will flow through the P&L in the fiscal third and fourth quarters [8] Other Important Information - The company ended the quarter with total outstanding borrowings of $91 million and a cash balance of $3.6 million, down from $10.3 million at the end of the previous fiscal year [26][27] - Capital expenditures for the six months ended December 31, 2021, were $5.9 million, a decline of $3.8 million compared to the prior year period [25] Q&A Session Summary Question: What about new customer additions and expanding average order size within DSD? - Management noted that they are seeing a rebound of new customers and an increase in customer volume, despite ongoing impacts from COVID and labor shortages [28][30] Question: How did the market react to price increases? - Management reported a positive reaction from customers regarding price increases, with customers understanding the need for adjustments due to supply chain challenges [33][34] Question: What are the top opportunities to drive gross margin improvements? - Management highlighted opportunities in consolidating operations in Portland, optimizing logistics networks, and enhancing procurement efforts as key areas for margin improvement [36][38]

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 December 31, 2021 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) Delaware 95-0725980 (State or Other Jurisdicti ...

Farmer Bros. Co. (NASDAQ:FARM) Q1 2022 Earnings Conference Call November 4, 2021 5:00 PM ET Company Participants Jennifer Milan – Investor Relations Deverl Maserang – President and Chief Executive Officer Scott Drake – Chief Financial Officer Conference Call Participants Gerard Sweeney – Roth Capital Operator Thank you for standing by, and welcome to the Farmer Bros. Company Q1 Fiscal 2022 Earning Conference Call. At this time, all participants are in a listen-only mode. After speakers’ presentation, there ...

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, 2021 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) Delaware 95-0725980 (State or Other Jurisdict ...