Coffee Holding - JVA STOCK NEWS

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.

Coffee Holding Co. (Nasdaq: JVA) reported a net sales increase of 14.0%, totaling $16.5 million for Q2 2022, compared to $14.5 million in Q2 2021. However, cost of sales rose to $14.5 million, leading to a gross profit of $1.99 million (12.1% of net sales), down from $3.77 million (26.1% of net sales) a year prior. The company experienced a net loss of $368,096, or $(0.06) per share, primarily due to ongoing losses from its Generations/Steep N Brew subsidiary. Despite these challenges, the company plans to restructure that division and focus on growth through sales of unroasted green coffee beans and private label products.

Coffee Holding Co. (JVA) reported Q1 2022 results, with net sales of $16.7 million, down 7.9% from $18.1 million in Q1 2021. The decline is attributed to a loss of customers from the Generations/Steep N Brew subsidiary. Despite a gross profit of $4.3 million (25.6% of net sales), operating expenses rose by 12.3% to $3.7 million, driven by higher professional, freight, and labor costs. EPS fell to $0.05 from $0.12 year-over-year. However, the CEO anticipates reduced expenses in the upcoming quarters, projecting improved sales and margins for fiscal 2022.

Coffee Holding Co. (JVA) reported a fiscal year 2021 net sales of $63.9 million, down 14% from $74.3 million in 2020, primarily due to COVID-19 impacts on food service customers. Gross profit increased to $16 million (25% of net sales) from $13.1 million (18% in 2020). Operating expenses rose to $14.6 million, with a turnaround in profitability resulting in earnings of $0.22 per share, up from a loss of $0.02 per share the previous year. A special dividend of $0.07 per share was announced, payable on February 21, 2022, to stockholders of record on February 10, 2022.

Coffee Holding Co., Inc. (Nasdaq: JVA) reported Q3 and Q9 results for 2021, showing a 21.3% decrease in net sales to $13.6 million compared to Q3 2020. For the nine months, net sales fell 14% to $56.7 million, driven by a 35% decline in cases shipped from its Colorado facility and a $2.5 million drop from its Generations subsidiary. The company reported a net loss of $127,051 for Q3 but a net income of $907,305 for the nine-month period. Higher costs linked to packaging and reorganization efforts were noted. Looking ahead, management expects a rebound in Q4 driven by rising coffee prices and improved operational efficiencies.

Coffee Holding Company (NASDAQ:JVA) announced a $2.5 million investment in OWYN, a rapidly growing plant-based beverage company. This investment aims to leverage synergies and enhance growth opportunities within the lucrative ready-to-drink beverage market. OWYN is currently present in approximately 20,000 retail locations and offers protein drinks with all-natural ingredients, including a new product featuring 35 grams of protein.

President Andrew Gordon expressed optimism about the collaboration, highlighting the potential benefits for both companies in the expanding market for healthier beverage options.

Coffee Holding Co. (Nasdaq: JVA) announced the launch of two CBD-infused coffee products, the Café Caribe CBD Coffee Pods and Harmony Bay CBD Coffee Pods, available for pre-order in 27 states. Each pod contains 25 mg of hemp-derived CBD isolate, totaling 300 mg per package. The company is leveraging its distribution network to accept wholesale orders alongside e-commerce sales. CEO Andrew Gordon expressed confidence in leading the fragmented CBD beverage market with future launches planned. Pre-orders offer a 15% discount using code 'JVA.'

Coffee Holding Company (Nasdaq: JVA) has announced the purchase of its 50,000 sq. ft. roasting facility in La Junta, Colorado, for $900,000, significantly below its appraised value. This acquisition is expected to enhance operational efficiency and save the company over $100,000 annually by eliminating rent payments. Furthermore, the company anticipates annualized cost savings of around $2.0 million post-consolidation and an expansion of its operations. The acquisition supports Coffee Holding's goal to improve its financial standing and operational effectiveness.

Coffee Holding Co. (Nasdaq: JVA) reported a 28% drop in net sales for the three months ending April 30, 2021, totaling $14.47 million, down from $20.1 million a year prior. For the six-month period, sales were $32.6 million, a 17.2% decrease. The decline was impacted by COVID-19 restrictions and decreased packed coffee sales, although gains were made from new private label accounts. The company reported net income of $357,044 for the quarter and $1.03 million for the half-year. Increased freight costs and inflationary pressures on packaging were noted as challenges.