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Farmer Bros Co. (NASDAQ: FARM) is a leading national coffee roaster, wholesaler, and distributor of coffee, tea, and culinary products. Founded in 1912 and headquartered in Northlake, Texas, the company serves over 65,000 customers across the United States, including restaurants, hotels, casinos, offices, quick-service restaurants (QSRs), convenience stores, and healthcare facilities.
Farmer Brothers offers a comprehensive range of products, encompassing organic, fair trade, and sustainably produced coffee beans. Its product portfolio includes well-known brands such as Artisan Collection™, Metropolitan™, Superior®, Cain’s™, and McGarvey®. Alongside coffee, the company provides a full line of hot and iced teas, spices, mixes, and coffee/tea brewing equipment, delivering extensive beverage planning services to its clients.
In recent years, Farmer Brothers has shifted its focus to direct store delivery (DSD), a strategy that has shown early signs of success. The company reported a notable increase in gross margins and adjusted EBITDA, reflecting its efforts to streamline operations and strengthen financial performance. The company aims to achieve positive free cash flow by early fiscal 2025.
Farmer Brothers has also made strategic moves, including selling its Northlake headquarters and centralizing roasting operations in Portland, Oregon. This transition is expected to optimize operations and support future growth. The company continues to innovate and expand its product offerings while maintaining a strong commitment to sustainability and quality.
Under the leadership of CEO John Moore, who brings over 30 years of experience in the coffee industry, Farmer Brothers is well-positioned to leverage its DSD network and drive long-term growth. The company remains focused on delivering high-quality products and exceptional customer service, building on its century-long legacy in the beverage industry.
Farmer Bros. Co. (NASDAQ: FARM) reported its Q4 and fiscal year 2021 results on September 9, 2021. Fourth-quarter net sales reached $102.9 million, up 26.9% year-over-year, driven by a recovery in the DSD channel. Gross margin improved to 27.6%, marking the highest of the fiscal year. The company reported a net loss of $4.0 million, a significant reduction from a loss of $9.7 million in the prior year. For the fiscal year, sales totaled $397.8 million, down 20.6% from the previous year due to COVID-19 impacts. Adjusted EBITDA was $3.4 million for Q4 and $16.6 million for the year.
Farmer Bros. Co. (NASDAQ: FARM) will release its financial results for the fiscal fourth quarter and fiscal year 2021, ending June 30, 2021, on September 9, 2021, after market close. An investor conference call is scheduled for the same day at 5:00 p.m. ET. Participants can access the audio-only webcast via the company's website. Farmer Bros., founded in 1912, specializes in coffee roasting, wholesaling, and distribution, catering to a diverse clientele from independent restaurants to large institutional buyers.
Farmer Bros. Co. (NASDAQ: FARM) has appointed Waheed Zaman to its Board of Directors, effective September 1, 2021. Zaman brings over 35 years of global consumer experience, including significant roles in corporate strategy and operations. Currently the CEO of W&A Consulting, he has a proven track record in leading transformational changes. Zaman's expertise in technology and cybersecurity is expected to enhance the company's operational efficiency, as stated by CEO Deverl Maserang.
Farmer Bros. Co. (NASDAQ: FARM) reported third quarter fiscal 2021 results, highlighting net sales of $93.2 million, down 27.9% year-over-year, largely due to COVID-19 impacts. Gross margin decreased to 25.6%, and the net loss was $13.7 million, an improvement from the $39.8 million loss in the prior year. The company has successfully optimized its supply chain, doubling capacity at its Northlake, Texas facility and opening a new distribution center in Rialto, California. Adjusted EBITDA was a loss of $0.8 million, contrasting with a gain of $6.6 million in the previous year.
Farmer Bros. Co. (NASDAQ: FARM) plans to release its financial results for the fiscal third quarter, ending March 31, 2021, after market close on May 6, 2021. The Company will conduct an audio-only investor conference call at 5:00 p.m. ET on the same day to discuss these results. Interested parties can access the earnings press release on Farmer Bros.' website under Investor Relations. Founded in 1912, Farmer Bros. is a leading coffee roaster and distributor, catering to a diverse range of customers in the foodservice and retail sectors.
Farmer Bros. Co. (NASDAQ: FARM) announced a new financing arrangement worth $127.5 million, comprising an $80 million asset-backed revolving credit facility and a $47.5 million term loan due April 2025. This replaces their existing revolving credit facility set to mature in November 2023, enhancing borrowing capacity at a lower cost. CFO Scott Drake emphasized the arrangement's role in improving liquidity and capital structure by leveraging real estate and equipment. The financing was led by Wells Fargo and allows for prepayment without penalties.
Farmer Bros. Co. (NASDAQ: FARM) announced its participation in Roth’s 33rd Annual Investor Conference on March 15-17, 2021. The company will engage in virtual one-on-one meetings and provide an updated Investor Presentation on its website. Founded in 1912, Farmer Bros. is a national coffee roaster and distributor offering a variety of products including organic and sustainably sourced coffee. The company caters to diverse clients from independent restaurants to large institutional buyers.
Farmer Bros. Co. (NASDAQ: FARM) reported a challenging second fiscal quarter ended December 31, 2020. Net sales fell by $47.9 million, or 31.4%, to $104.6 million, primarily due to COVID-19's negative impact on coffee sales. The company experienced a net loss of $17.7 million, down from a net income of $7.8 million in the prior year. Gross margin declined to 25.1% from 28.8%, while Adjusted EBITDA improved to $8.3 million, compared to $7.4 million last year. Despite these challenges, the company highlighted operational improvements and a new distribution center on the West Coast.
Farmer Bros. Co. (NASDAQ: FARM) announced that it will release its fiscal Q2 2021 financial results on February 4, 2021, after market close. The results will cover the period ending December 31, 2020. Following the release, management will host a conference call at 5:00 p.m. ET to discuss the financial outcomes. The earnings press release will be available on the Company's website. Founded in 1912, Farmer Bros. is a national coffee roaster and wholesaler serving a diverse clientele with a range of coffee and culinary products.
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