Farmer Bros Co - FARM STOCK NEWS

Farmer Bros. Co. (NASDAQ: FARM) reported a 12% year-over-year increase in net sales for the second fiscal quarter of 2023, reaching $132.7 million. The company noted an improvement in gross margin and adjusted EBITDA despite inflationary pressures. CEO Deverl Maserang highlighted a positive turnaround strategy but acknowledged challenges related to coffee pricing and customer inventory adjustments. The company aims to leverage expected favorable pricing trends moving forward. An investor conference call is scheduled for February 8, 2023, to discuss these results further.

Farmer Bros. Co. (NASDAQ: FARM) has appointed Tom Bauer as the new Vice President of its Direct Store Delivery (DSD) segment, tasked with enhancing growth and efficiency. Bauer, previously with DS Services and Emerald Brand, brings extensive experience in sales and operations. Alongside this, the company issued 9,980 restricted stock units to Bauer, vesting over three years, as an employment incentive under the 2020 Inducement Incentive Plan. Founded in 1912, Farmer Bros. Co. specializes in coffee and culinary products, generating $469.2 million in net sales for fiscal 2022.

Farmer Bros. Co. (NASDAQ: FARM) announced it will release its 2023 fiscal second quarter financial results on February 8, 2023. The results will be shared through a quarterly shareholder letter on the company's investor relations website. An investor conference call will follow at 5:00 p.m. ET to discuss these outcomes. Founded in 1912, Farmer Bros. operates as a national coffee roaster and distributor, generating net sales of $469.2 million in fiscal 2022. The company provides a range of coffee and culinary products to diverse customers, including restaurants, hotels, and grocery chains.

Farmer Bros. Co. (NASDAQ:FARM) announced the issuance of 10,845 restricted stock units to Gregory Newham, its new Vice President of Planning and Procurement, under the 2020 Inducement Incentive Plan. This award will vest over three years, contingent on Mr. Newham's employment status. The Inducement Plan is designed to attract new employees with equity awards, complying with Nasdaq Listing Rules. Farmer Bros., founded in 1912, specializes in coffee roasting and distribution, providing a diverse range of products to various customer segments across the U.S.

Farmer Bros. Co. (NASDAQ: FARM) will participate in The Roth 11th Annual Deer Valley Conference on December 15-16, 2022. The company is set to host one-on-one and group meetings for potential investors. An updated investor presentation will be made available on December 15 through the company's investor relations website. Founded in 1912, Farmer Bros. is a prominent coffee roaster and distributor, reporting net sales of $469.2 million in fiscal 2022 and employing approximately 1,068 people across the U.S.

Farmer Bros. Co. (NASDAQ: FARM) reported Q1 fiscal 2023 results, revealing net sales of $121.4 million, up 12% year-over-year. However, the company faced a net loss of $7.4 million, worsening from a $2.4 million loss in the previous year. Gross margin decreased to 21.9% from 29.0%, reflecting inflationary pressures. Adjusted EBITDA showed a significant loss of $4.9 million, contrasting with an income of $3.5 million last year. Total debt reached $114.0 million, with cash and equivalents at $7.6 million.

Farmer Bros. Co. (NASDAQ: FARM) announced a new cooperation agreement with JCP Investment Management and 22NW, who collectively own 15.7% of the company's stock. Key points include the appointment of Bradley L. Radoff as an independent board member and the nomination of an additional independent director from JCP for the 2022 Annual Meeting. The board will form a new committee focused on strategic alternatives post-meeting. JCP and 22NW will withdraw their nominations and adhere to standstill provisions during the agreement's term. This strategic alignment aims to enhance shareholder value.