Welcome to our dedicated page for Farmer Brother news (Ticker: FARM), a resource for investors and traders seeking the latest updates and insights on Farmer Brother stock.
Farmer Brothers (FARM) maintains this dedicated news hub for investors and industry stakeholders tracking developments in coffee distribution and foodservice solutions. Our news collection provides timely updates on operational milestones, financial disclosures, and strategic initiatives from this established coffee roaster and culinary products provider.
This resource consolidates essential information about FARM's sustainable sourcing practices, Direct Store Delivery network enhancements, and product innovation efforts. Users will find press releases covering earnings reports, leadership changes, facility expansions, and sustainability achievements alongside analysis of market positioning within the competitive foodservice distribution sector.
All content undergoes strict verification to ensure accuracy and relevance for financial decision-making. The archive serves both casual observers and professional analysts requiring detailed insights into FARM's operational strategies and industry relationships.
Bookmark this page for streamlined access to verified updates about Farmer Brothers' partnerships with hospitality providers, retail expansions, and quality assurance programs. Check regularly for new developments affecting the company's position in coffee wholesale markets and foodservice logistics.
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.
Farmer Bros. Co. (NASDAQ: FARM) will announce its financial results for the first quarter of fiscal 2023, ending September 30, 2022, on November 3, 2022, after market close. An investor conference call and webcast will follow at 5:00 p.m. ET. The earnings release will be available on the Company’s website. Founded in 1912, Farmer Bros. is a prominent coffee roaster and distributor, generating net sales of $469.2 million in fiscal 2022. The Company serves various U.S. clients, including restaurants and grocery chains, with a diverse range of coffee and allied products.
Farmer Bros. Co. (NASDAQ: FARM) announced it received notice from JCP Investment Partnership, LP regarding its intent to nominate three individuals for election to the Board of Directors at the 2022 Annual Meeting of stockholders. The Board will evaluate these nominations and disclose its recommendations in a definitive proxy statement to be filed with the SEC. Stockholders are not required to take any action at this time. In fiscal 2022, Farmer Bros. Co. reported net sales of $469.2 million and employs approximately 1,068 staff across the U.S.
Farmer Bros. Co. (NASDAQ: FARM) reported a 20% increase in Q4 net sales to $123.0 million, fueled by recovery in its Direct-Store-Delivery and Direct Ship channels. Gross margin improved to 28.4% from 27.6% year-over-year. The company's net loss narrowed to $3.8 million, compared to $4.0 million in the same quarter last year. For fiscal 2022, net sales reached $469.2 million, an 18% increase, with an adjusted EBITDA of $19.1 million. Despite economic uncertainties, management expresses optimism about future growth initiated by ongoing optimization strategies.
Farmer Bros. Co. announced the successful refinancing of its credit facility with Wells Fargo, securing a $47.0 million five-year first lien facility. This refinancing is projected to yield approximately $2.0 million in annual cash savings, alongside lowering interest rates and extending maturity. Key changes include the removal of the minimum AEBITDA covenant and a 15-year amortization period for principal payments. CEO Deverl Maserang emphasized that this refinancing improves the company's capital structure and provides increased financial flexibility.
Farmer Bros. Co. (NASDAQ: FARM) will release its financial results for the fiscal fourth quarter and year ended June 30, 2022, after market close on September 1, 2022. Management will conduct an audio-only investor conference call at 5:00 p.m. ET the same day to discuss the results. Investors can access the earnings press release on the Company’s website under 'Investor Relations.' The webcast will be archived for at least 30 days for later viewing.
Farmer Bros. Co. (NASDAQ:FARM) announced an amendment to its ABL credit facility with Wells Fargo, enhancing liquidity and flexibility. The amendment increases the maximum revolver commitment from $80 million to $90 million and replaces the LIBOR interest rate benchmark with SOFR, reducing the applicable margin from 2.25% to 1.75%. CEO Deverl Maserang highlighted the importance of this additional liquidity in maintaining inventory levels amid rising commodity pressures, underscoring a commitment to quality coffee products for customers and benefits for shareholders.
