Coffee Holding Co., Inc. - JVA STOCK NEWS

Coffee Holding Co. (Nasdaq: JVA) reported strong Q3 2024 results, with net sales increasing 19% to $18,813,162 compared to the same period last year. The company's gross profit improved to 20.9% of net sales, up from 15.5% in Q3 2023. JVA achieved a net income of $626,796 ($0.11 per share), compared to a net loss of $111,881 in Q3 2023. The improvement was driven by increased sales to new private label customers and growth in the Café Caribe brand. The company also reduced its line of credit by over $7 million, resulting in significant interest expense savings. CEO Andrew Gordon expressed satisfaction with the results and emphasized the company's determination to see a higher stock price reflecting its true value.

Coffee Holding Co. (NASDAQ: JVA) has terminated its merger agreement with Delta Corp Holdings , initially announced on September 30, 2022. The decision followed an unsuccessful shareholder vote in April. CEO Andrew Gordon emphasized that the company will focus on its independent growth strategy, aiming to boost shareholder value. Over the past few years, Coffee Holding has addressed debt and balance sheet issues, secured new business agreements, and shown revenue growth for four consecutive quarters, despite a loss of $8 million in annual revenue from the closure of its Generations/Steep subsidiary. The company expects recent price increases to offset rising costs of London Robusta coffee and improve profit margins in the upcoming quarters.

Coffee Holding Co., Inc. (JVA) and Delta Corp Holdings Limited announced the SEC's approval of their proposed business combination. A special meeting is scheduled for March 28, 2024, for stockholders to vote on the merger and share exchange agreement.

Coffee Holding Co., Inc. provides a business update following its 2023 Annual Meeting. The company is experiencing challenges due to business slowdown, increasing costs, and elevated freight and borrowing costs. However, they expect an improved outlook in 2024 with new customer wins and increased sales. They also believe that a merger with Delta Corp Holdings Limited will benefit the company and its shareholders by increasing scale and efficiency. The proxy statement is expected to be mailed to stockholders by year end.

Coffee Holding (NASDAQ: JVA) and Delta Corp Holdings Limited announced the confidential submission of a draft registration statement to the SEC for a proposed merger. Under the agreement from September 30, 2022, both companies will become wholly owned subsidiaries of a newly formed holding company, Pubco, incorporated in the Cayman Islands. This transaction hinges on stockholder approval and the successful listing of Pubco's shares on Nasdaq. If completed, Delta shareholders will hold majority ownership of Pubco. Coffee Holding, established in 1971, is a key player in the wholesale coffee sector with a diverse product range. Delta specializes in logistics and asset management across multiple sectors. Further details and the actual proxy statement will be made available once the SEC approves the registration statement.

Coffee Holding Co., Inc. (Nasdaq: JVA) received a notice from Nasdaq on March 21, 2023, indicating the company has not filed its Form 10-Q for the quarter ended January 31, 2023, and remains delinquent on its Annual Report for the year ended October 31, 2022. The notice does not affect the listing or trading of JVA stock immediately. The company has until April 3, 2023, to submit a compliance plan, potentially allowing up to 180 days to file the delinquent reports. Coffee Holding aims to file the Annual Report by March 31, 2023, and is working to finalize the Quarterly Report promptly.

Coffee Holding Co., Inc. (Nasdaq: JVA) announced receiving a notice from Nasdaq on February 2, 2023, regarding non-compliance with Listing Rule 5250(c)(1) due to the absence of its Annual Report on Form 10-K for the year ending October 31, 2022. The notice does not immediately affect trading, and the company has until April 3, 2023, to submit a plan to regain compliance. If accepted, it may extend the deadline to file the report until July 31, 2023. The company is actively working to finalize and file its Annual Report promptly.

Coffee Holding Co. (JVA) and Delta Corp Holdings Limited announced a merger agreement, creating a new public entity under Delta Corp Holdings Limited, which will focus on bulk and energy logistics, fuel supply, and commodities. The new company aims for a strong market presence, with Delta's impressive financials showing $532 million in revenue and $45 million in net income for 2021. Delta's asset-light model supports its strategic growth, and shareholders of Coffee Holding are set to receive shares of the new company at a premium of 127% over current stock prices.

Coffee Holding Co., Inc. (JVA) reported a net sales increase of 24.8% to $17,013,286 for the quarter ending July 31, 2022, attributed to higher sales to legacy and new customers. However, cost of sales rose to 81.5% of net sales due to increased green coffee and packaging costs, leading to a gross profit decrease to 18.5% of net sales. Operating expenses decreased by $333,223. The company posted a net income of $132,381, reversing a net loss from the same quarter last year. Despite positive sales growth, logistics and freight costs added pressure on profitability.