Welcome to our dedicated page for Farmer Bros. Co. news (Ticker: FARM), a resource for investors and traders seeking the latest updates and insights on Farmer Bros. Co. stock.
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 Brothers, a leading national coffee roaster, reported the issuance of inducement awards to CFO Vance Fisher under the Nasdaq Listing Rule 5635(c)(4). Effective July 1, 2024, the awards include 60,000 time-vesting restricted stock units (RSUs) and 120,000 performance-based restricted stock units (PBRSUs). The RSUs will vest over three years subject to Fisher's continued employment. The PBRSUs will vest if the company's stock price averages at least $6 over 90 days or a change in control occurs, with a $6 per share valuation. The PBRSUs expire after three years if these conditions aren't met. The inducement plan aims to attract new employees through equity awards.
Founded in 1912, Farmer Brothers provides extensive beverage planning services and culinary products to various U.S.-based customers, including independent restaurants, large institutional buyers, and grocery chains. Their brands include Farmer Brothers, Boyd's, Cain’s, China Mist, and West Coast Coffee.
Farmer Brothers (NASDAQ: FARM), a renowned coffee roaster, wholesaler, and distributor, has appointed Vance Fisher as its new Chief Financial Officer (CFO). Fisher succeeds Brad Bollner, who has been serving as the interim CFO since August 2023 and will now continue as Vice President of Finance. CEO John Moore expressed excitement over Fisher's appointment, citing his successful track record in increasing revenue and EBITDA at previous companies. Fisher's background includes roles at Nothing Bundt Cakes, Dunn’s River Brands, and Daisy Brand, where he significantly contributed to financial growth. Fisher holds dual bachelor's degrees in accounting and finance from the University of Oklahoma. He is enthusiastic about joining Farmer Brothers at a important time as the company focuses on optimizing its Direct Store Delivery (DSD) network and driving long-term growth.
Farmer Brothers reported third quarter fiscal 2024 financial results with net sales of $85.4 million and a 660 basis points gross margin increase to 40.1% year-over-year. Despite a slight decrease in net sales due to lower unit sales, gross profit rose by $5.5 million. Operating expenses decreased slightly, leading to a net income improvement of $6.2 million compared to the prior year. Adjusted EBITDA remained positive at $0.3 million. The company believes it has adequate capital and aims to achieve positive free cash flow in early fiscal 2025.
FAQ
What does Farmer Bros Co. do?
What are the key products of Farmer Bros Co.?
Who are the main customers of Farmer Bros Co.?
What recent changes has Farmer Bros Co. made in its operations?
Who is the CEO of Farmer Bros Co.?
What is the financial outlook for Farmer Bros Co.?
What sustainability practices does Farmer Bros Co. follow?
How can investors access Farmer Bros Co.’s financial reports?
What is the primary strategy of Farmer Bros Co. going forward?
Where is Farmer Bros Co. headquartered?
