Coffee Holding Stock Price, News & Analysis

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.

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.