Welcome to our dedicated page for Farmer Brother news (Ticker: FARM), a resource for investors and traders seeking the latest updates and insights on Farmer Brother stock.
Farmer Bros. Co. reports developments for a national coffee roaster, wholesaler, equipment servicer and distributor of coffee, tea and culinary products. News commonly covers operating and financial results, margin and cost trends, beverage and culinary product lines, and service to foodservice, institutional, grocery, hospitality and convenience-store customers.
Corporate updates also address material agreements, shareholder voting matters, governance, executive compensation arrangements, capital-structure disclosures and changes affecting the company's public-company status.
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.
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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.
Farmer Bros. Co. (NASDAQ: FARM) has entered a strategic partnership with High Brew Coffee to distribute ready-to-drink (RTD) cold brew coffee. The agreement focuses on three flavors that will be piloted in Chicago, Houston, and Dallas, leveraging Farmer Brothers' extensive DSD network, which reached over 50,000 delivery points in 2020. The cold brew segment is growing rapidly, with a year-over-year increase of 27.6% in the past year. This partnership aims to enhance Farmer Brothers' market presence in the expanding RTD coffee category.
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