Coffee Holding Co., Inc. reports third-best yearly performance in Company’s twenty-year history of being a publicly-traded company.
Coffee Holding Co. (JVA) reported strong financial results for fiscal year 2024, marking its third-best yearly performance in 20 years as a public company. Net sales increased by 15% compared to fiscal 2023, while gross margins improved from 16% to 20%. The company achieved a net income of $2,245,132 ($0.39 per share), compared to a net loss of ($835,576) (-$0.15 per share) in 2023.
With coffee prices remaining above $2.00/lb throughout most of 2024, the company successfully leveraged its horizontally-integrated product mix. Despite challenges from rising commodity prices and delayed price increases to customers, JVA strengthened its balance sheet by reducing debt and renegotiating its Staten Island office lease, resulting in annual savings of $72,000.
Coffee Holding Co. (JVA) ha riportato risultati finanziari solidi per l'anno fiscale 2024, segnando la sua terza migliore performance annuale negli ultimi 20 anni come azienda pubblica. Le vendite nette sono aumentate del 15% rispetto all'anno fiscale 2023, mentre i margini lordi sono migliorati dal 16% al 20%. L'azienda ha registrato un reddito netto di $2,245,132 ($0.39 per azione), rispetto a una perdita netta di ($835,576) (-$0.15 per azione) nel 2023.
Con i prezzi del caffè che rimangono sopra i $2.00/lb per gran parte del 2024, l'azienda ha sfruttato con successo il suo mix di prodotti integrati orizzontalmente. Nonostante le sfide provenienti dall'aumento dei prezzi delle materie prime e dai ritardi negli aumenti di prezzo ai clienti, JVA ha rafforzato il proprio bilancio riducendo il debito e rinegoziando il contratto di locazione del suo ufficio a Staten Island, con un risparmio annuale di $72,000.
Coffee Holding Co. (JVA) informó sobre resultados financieros sólidos para el año fiscal 2024, marcando su tercer mejor desempeño anual en 20 años como empresa pública. Las ventas netas aumentaron en un 15% en comparación con el año fiscal 2023, mientras que los márgenes brutos mejoraron del 16% al 20%. La compañía logró un ingreso neto de $2,245,132 ($0.39 por acción), en comparación con una pérdida neta de ($835,576) (-$0.15 por acción) en 2023.
Con los precios del café manteniéndose por encima de $2.00/lb durante la mayor parte de 2024, la empresa aprovechó con éxito su mezcla de productos integrados horizontalmente. A pesar de los desafíos por el aumento de los precios de las materias primas y los retrasos en los aumentos de precios a los clientes, JVA fortaleció su balance al reducir su deuda y reestructurar el alquiler de su oficina en Staten Island, resultando en ahorros anuales de $72,000.
Coffee Holding Co. (JVA)는 2024 회계연도에 대한 강력한 재무 결과를 보고하며, 공개 기업으로서 20년 만에 세 번째로 좋은 연간 실적을 기록했습니다. 순매출은 2023 회계연도에 비해 15% 증가했으며, 총거래 이익률은 16%에서 20%로 개선되었습니다. 회사는 $2,245,132 ($0.39 주당) 순이익을 달성했으며, 이는 2023년의 순손실 ($835,576) (-$0.15 주당)과 비교됩니다.
2024년 대부분 기간 동안 커피 가격이 lb당 $2.00 이상으로 유지되면서, 회사는 수평적으로 통합된 제품 믹스를 성공적으로 활용했습니다. 원자재 가격 상승과 고객에 대한 가격 인상 지연으로 인한 어려움에도 불구하고, JVA는 부채를 줄이고 Staten Island 사무실 임대 계약을 재협상하여 연간 $72,000의 절감을 이루어 재무 건전성을 강화했습니다.
Coffee Holding Co. (JVA) a annoncé des résultats financiers solides pour l'exercice 2024, marquant sa troisième meilleure performance annuelle en 20 ans en tant qu'entreprise publique. Les ventes nettes ont augmenté de 15% par rapport à l'exercice 2023, tandis que les marges brutes se sont améliorées de 16% à 20%. L'entreprise a réalisé un revenu net de $2,245,132 ($0.39 par action), par rapport à une perte nette de ($835,576) (-$0.15 par action) en 2023.
Avec des prix du café restant au-dessus de $2.00/lb pendant la majeure partie de 2024, l'entreprise a su tirer parti de son mélange de produits intégrés horizontalement. Malgré les défis liés à la hausse des prix des matières premières et aux retards dans les augmentations de prix pour les clients, JVA a renforcé sa situation financière en réduisant sa dette et en renégociant son bail de bureau à Staten Island, entraînant des économies annuelles de $72,000.
Coffee Holding Co. (JVA) berichtete über starke finanzielle Ergebnisse für das Geschäftsjahr 2024 und erzielte damit die drittbeste Jahresleistung in 20 Jahren als öffentliches Unternehmen. Der Nettoumsatz stieg um 15% im Vergleich zum Geschäftsjahr 2023, während die Bruttomargen von 16% auf 20% verbessert wurden. Das Unternehmen erzielte ein Nettoergebnis von $2,245,132 ($0.39 pro Aktie) im Vergleich zu einem Nettverlust von ($835,576) (-$0.15 pro Aktie) im Jahr 2023.
Da die Kaffeepreise im Jahr 2024 über $2.00/lb blieben, nutzte das Unternehmen erfolgreich sein horizontal integriertes Produktmix. Trotz Herausforderungen durch steigende Rohstoffpreise und verspätete Preiserhöhungen für Kunden stärkte JVA seine Bilanz, indem es die Schulden reduzierte und den Mietvertrag für sein Büro in Staten Island neu verhandelte, was jährliche Einsparungen von $72,000 zur Folge hatte.
- Net sales increased 15% year-over-year
- Gross margins improved from 16% to 20%
- Turned $835,576 loss into $2,245,132 profit
- Reduced debt load despite high interest rates
- Achieved $72,000 annual cost savings from lease renegotiation
- Delayed price increases to customers impacted revenues and earnings in Q4
- Faced challenges from rising commodity prices and inflation
- Increased costs in transportation, healthcare, and insurance
Insights
Coffee Holding Co.'s FY2024 results represent a remarkable turnaround, showcasing the effectiveness of their horizontal integration strategy in a challenging commodity price environment. The company's ability to achieve 15% revenue growth while expanding gross margins by
The transformation from a
Notable operational improvements include:
- Significant debt reduction despite high interest rates, strengthening the balance sheet
- Annual cost savings of
$72,000 through lease renegotiation - Successfully implemented price increases in Q4 2024, setting up strong momentum for 2025
The delayed price implementation strategy, while initially impacting margins, demonstrates disciplined market approach - following national brands' pricing moves to maintain competitive positioning. This patience, combined with current elevated Arabica futures market conditions, positions the company favorably for continued growth in FY2025.
STATEN ISLAND, New York, Feb. 03, 2025 (GLOBE NEWSWIRE) -- Coffee Holding Co., Inc. (Nasdaq: JVA) (the “Company” or “we”) announced its operating results for the fiscal year ended October 31, 2024:
| ● | The Company is pleased to report extremely strong results to our shareholders: Net sales for fiscal 2024 increased | |
| ● | Gross margins increased from | |
| ● | Net income for fiscal 2024 was |
With coffee prices remaining over
High green coffee prices increased our profitability to our wholesale green coffee customers while mitigating the margin compression to our private label customers, many of whom were behind the growth in our total revenues.
“Adding all this new business on the roasted side of the balance sheet was both a boon and a concern at the same time” said Andrew Gordon, President and CEO of Coffee Holding Co.
“Even with commodity prices rising as fast as they did, especially during the second half of the year, we still were required to hold off on increasing our prices to our large supermarket and wholesale customers until the national brands increased their prices, which clearly had a negative effect on both revenues and earnings up until when the majority of these price increases were implemented during the latter half of fiscal Q4 of 2024.
Now, we believe that these increases, combined with an elevated Arabica futures market, should provide us with a strong tailwind heading into fiscal 2025.
Although 2024 proved to be a challenging year due to the macro inflationary environment, which saw coffee prices approach life of contract highs, in addition to increases in the costs of transportation, healthcare and insurance, we believe we successfully navigated these issues to deliver strong results.
We strengthened our balance sheet, dramatically reducing our debt load even though interest rates remained elevated, as well as renegotiating our lease at our main offices in Staten Island, which will result in an annual savings of approximately
These continued efforts on our part to focus on ways to reduce our operating costs along with an expected continued growth trajectory in revenues, give me reason to believe that we will continue to execute as a company and give our shareholders the value that they have missed out on over the past several years.” ended Andrew Gordon, President and CEO.
About Coffee Holding
Founded in 1971, Coffee Holding Co., Inc. (NASDAQ: JVA) is a leading integrated wholesale coffee roaster and dealer in the United States and one of the few coffee companies that offers a broad array of coffee products across the entire spectrum of consumer tastes, preferences and price points. Coffee Holding’s product offerings consist of eight proprietary brands, each targeting a different segment of the consumer coffee market as well as roasting and blending coffees for major wholesalers and retailers throughout the United States who want to have products under their own names to compete with national brands. In addition to selling roasted coffee, Coffee Holding Co., Inc. also imports green coffee beans from around the world which it resells to smaller regional roasters and coffee shops around the United States and Canada.
Forward looking statements
Any statements that are not historical facts contained in this release are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including the Company’s outlook on the revenue growth. Forward-looking statements include statements with respect to our beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties and other factors, which may be beyond our control, and which may cause our actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. All statements other than statements of historical fact are statements that could be forward-looking statements. We have based these forward-looking statements upon information available to management as of the date of this release and management’s expectations and projections about certain future events. It is possible that the assumptions made by management for purposes of such statements may not materialize. Such statements may involve risks and uncertainties, including but not limited to those relating to product demand, pricing, market acceptance, hedging activities, the effect of economic conditions, intellectual property rights, the outcome of competitive products, risks in product development, the results of financing efforts, the ability to complete transactions and other risks and uncertainties described in the “Risk Factors” section of documents filed by the Company from time to time with the Securities and Exchange Commission. The Company undertakes no obligation to update or revise any forward-looking statement for events or circumstances after the date on which such statement is made.
Company Contact
Coffee Holding Co., Inc.
Andrew Gordon
President & CEO
(718) 832-0800
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