Farmer Bros. (FARM)

Search documents
Farmer Bros. (FARM) - 2025 Q1 - Quarterly Results
2024-11-07 21:21
Exhibit 99.1 Farmer Brothers Coffee reports first quarter fiscal 2025 financial results First quarter fiscal 2025 net sales of $85.1 million, up 4% on a year-over year basis First quarter fiscal 2025 gross margin increase of 630 basis points year-over-year to 43.9% 1 Reported net loss of $5 million and improved adjusted EBITDA of $1.4 million Fort Worth, Texas, Nov. 7, 2024 – Farmer Bros. Co. (NASDAQ: FARM) today reported its first quarter fiscal 2025 financial results for the period ended Sept. 30, 2024. T ...
Farmer Bros. (FARM) - 2024 Q4 - Earnings Call Transcript
2024-09-12 22:54
Farmer Bros. Co. (NASDAQ:FARM) Q4 2024 Earnings Conference Call September 12, 2024 5:00 PM ET Company Participants John Moore - President and CEO Vance Fisher - CFO Conference Call Participants Gerard Sweeney - ROTH Capital Eric Des Lauriers - Craig-Hallum Capital Group Operator Good afternoon, and welcome to the Farmer Brothers Fiscal Fourth Quarter and Full Year 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode. As a reminder, this call is being recorded. Earlier toda ...
Farmer Bros. (FARM) - 2024 Q4 - Annual Report
2024-09-12 21:02
Operations and Facilities - The company sold its Northlake, Texas production facility in fiscal 2023 and now utilizes the Portland, Oregon facility and third-party co-manufacturers for its Direct-Store-Delivery operations[10]. - The company operates a nationwide DSD network with 243 delivery routes and 104 branch warehouses as of June 30, 2024[26]. Workforce and Employment - The company employed approximately 1,003 employees as of June 30, 2024, with 206 employees subject to collective bargaining agreements expiring on or before September 30, 2027[17]. - The company has implemented a proactive approach to workplace safety, including regular safety training and fleet safety reviews[19]. Sustainability and Corporate Responsibility - The company continues to enhance its premium and specialty coffee and tea programs, focusing on sustainable product solutions and strategic partnerships[11]. - The Project D.I.R.E.C.T. program focuses on direct long-term partnerships with coffee growing communities, emphasizing sustainability and transparent pricing[14]. - The company is committed to working with suppliers who share its sustainability goals, requiring adherence to its Supplier Standards of Engagement[14]. - The company emphasizes charitable involvement as part of its corporate responsibility, supporting organizations like Feeding America and local food banks[15]. Financial Performance and Market Insights - The coffee "C" market near month price as of June 30, 2024, was $2.29 per pound, compared to $1.65 per pound on June 30, 2023, reflecting a significant increase[20]. - Fiscal 2024 coffee "C" market prices traded in a range of $1.44 to $2.54 per pound, averaging 13% above the historical average for the past five years[20]. - The company completed the sale of certain assets related to its direct ship and private label business for a purchase price of $100 million in cash on June 30, 2023[25]. - As of June 30, 2024, the company had outstanding borrowings of $23.3 million with a weighted average interest rate of 7.05%[120]. - A hypothetical 10% increase in coffee commodity prices could decrease net income by $11, while a 10% decrease could increase net income by $11[121]. - The company serves a diverse customer base, with the top five customers accounting for approximately 3% of net sales from continuing operations in fiscal 2024[27]. Supply Chain and Pricing Strategy - The company is implementing IT applications to enhance supply chain optimization and flexibility, including an AI-backed pricing model for optimal pricing changes[11]. - The company maintains a large green coffee inventory and enters into forward commodity purchase agreements to mitigate price volatility[121]. - The company is exposed to commodity price risk due to fluctuations in green coffee prices, which cannot always be passed on to customers in a timely manner[121]. Product Offerings - The company has a robust line of products, including organic and Fair Trade Certified coffee, frozen liquid coffee, and culinary products[8].
Farmer Bros. (FARM) - 2024 Q4 - Annual Results
2024-09-12 20:10
Exhibit 99.1 Farmer Brothers reports fourth quarter and full year fiscal 2024 financial results Fiscal year 2024 gross margin increase of 560 basis points year-over-year to 39.3% Reported full year net loss of $3.9 million, increased full year adjusted EBITDA to $558,000 1 Fiscal 2024 net sales of $341.1 million Fort Worth, Texas, Sept. 12, 2024 – Farmer Bros. Co. (NASDAQ: FARM) today reported its fourth quarter and full year fiscal 2024 financial results for the period ended June 30, 2024. The company file ...
Farmer Brothers to report fourth quarter and fiscal 2024 financial results
GlobeNewswire News Room· 2024-08-26 20:15
FORT WORTH, Texas, Aug. 26, 2024 (GLOBE NEWSWIRE) -- Farmer Bros. Co. (NASDAQ: FARM) announced today it will publish its fiscal fourth quarter and full year 2024 financial results for the period ended June 30, 2024 with the filing of its 10-K and the issuing of its earnings results release, both of which will be posted on the Investor Relations section of its website after the close of market Thursday, Sept. 12. The company will also host an audio-only investor conference call and webcast at 5 p.m. Eastern ...
MASSEY FERGUSON® 9S SERIES TRACTOR BRINGS EFFICIENCY AND DEPENDABILITY TO YOUR FARM
Prnewswire· 2024-08-26 12:35
MF 9S SERIES HELPS FARMERS WHO DEMAND MORE ACHIEVE A BETTER OVERALL COST OF OWNERSHIP DULUTH, Ga., Aug. 26, 2024 /PRNewswire/ -- AGCO Corporation (NYSE: AGCO), a global leader in the design, manufacture, and distribution of agricultural machinery and precision ag technology, today announced the North American debut of the Massey Ferguson® 9S Series tractor. Designed with the farmer in mind, the MF 9S Series offers dependability and efficiency to help farmers achieve a lower overall cost of ownership. Massey ...
RECONAFRICA ENTERS INTO DEFINITIVE STRATEGIC FARM DOWN AGREEMENT WITH BW ENERGY
Prnewswire· 2024-07-31 02:03
Brian Reinsborough, President and CEO commented: "We have demonstrated a great start to our joint venture partnership with BW Energy by completing the farm down agreement in such a short period of time. This transaction maximizes cash up front for our multi-well drilling program and provides significant cash for development expenditures on success, while still retaining a high level of working interest for ReconAfrica and its shareholders. We look forward to continuing to work closely with BW Energy over th ...
Farmer Brothers Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
Newsfilter· 2024-07-02 21:16
IRVING, Texas, July 02, 2024 (GLOBE NEWSWIRE) -- Farmer Brothers Co., a Delaware corporation, (NASDAQ: FARM) reported today the company issued certain inducement awards under the Farmer Bros. Co. 2020 Inducement Incentive Plan to Chief Financial Officer Vance Fisher pursuant to Nasdaq Listing Rule 5635(c)(4). About Farmer Brothers Founded in 1912, Farmer Brothers is a national coffee roaster, wholesaler, equipment servicer and distributor of coffee, tea and culinary products. The company's product lines inc ...
Farmer Brothers Names Vance Fisher Chief Financial Officer
Newsfilter· 2024-05-22 20:30
NORTHLAKE, Texas, May 22, 2024 (GLOBE NEWSWIRE) -- Farmer Brothers (NASDAQ: FARM) a leading roaster, wholesaler and distributor of coffee, tea and allied products, announced today it has appointed Vance Fisher as chief financial officer. Brad Bollner, who has served as the company's interim CFO since August 2023, will remain with the company as its vice president of finance. "Vance is an experienced CFO with a proven track record of helping organizations grow revenue and EBITDA," said Chief Executive Office ...
Farmer Brothers Names Vance Fisher Chief Financial Officer
globenewswire.com· 2024-05-22 20:30
"Vance is an experienced CFO with a proven track record of helping organizations grow revenue and EBITDA," said Chief Executive Officer John Moore. "We are excited to have him join our leadership team as we continue to unlock the full potential of our direct store delivery (DSD) network and drive strategic, long- term growth. We are also especially appreciative of Brad's diligence and contributions throughout our recent transition." Mr. Fisher, who has more than 25 years of financial leadership experience, ...