Coffee Holding Stock Price, News & Analysis

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.

Coffee Holding Co. (JVA) reported Q1 2021 net sales of $18.13 million, down 6% from $19.29 million in Q1 2020 due to COVID-19 impacts on restaurant clients. Cost of sales decreased to 75.3% of net sales, leading to a gross profit of $4.48 million, or 24.7% of net sales, up from 16.2% a year prior. Operating expenses fell by 10% to $3.31 million, helping the company achieve net income of $677,312 ($0.12 per share), recovering from a loss of $599,848 in Q1 2020. The company anticipates growth as businesses reopen and new customers are brought in.

Coffee Holding Co. (JVA) reported a net loss of $94,301 for the fiscal year ending October 31, 2020, mainly due to COVID-19 impacts. This marks a slight improvement from the $94,598 loss in the prior year. Net sales dropped 14% to $74.34 million, attributed to pandemic-related closures affecting customers in the food service sector. Despite these challenges, operating expenses decreased by $1.31 million to $13.90 million. The company also noted strategic expansions and a 49% stake acquisition in The Jordre Well LLC for CBD-infused beverages, which may enhance future revenues.

Coffee Holding Co. (NASDAQ: JVA) announced that its 49%-owned subsidiary, The Jordre Well, has submitted 14 CBD-infused coffee samples for testing at Columbia Laboratories. This testing aims to ensure the quality and consistency of the products, which are designed to meet consumer expectations without the taste of hemp. The company's popular brands, Café Caribe and Harmony Bay, are set to offer these new CBD-infused products. CEO Andrew Gordon noted rapid progress in product development since acquiring a stake in The Jordre Well.

Coffee Holding Co. (Nasdaq: JVA) announced participation in the virtual Cowen's 2020 Boston Cannabis Conference from November 30 to December 2, 2020. This follows their acquisition of a 49% stake in The Jordre Well, a CBD beverage company, announced on October 16, 2020. The conference will provide updates on various cannabis products, focusing on consumer, technology, and healthcare sectors. CEO Andrew Gordon and The Jordre Well team will engage in one-on-one meetings during the event.

Coffee Holding Co., Inc. (Nasdaq: JVA) has entered into a binding agreement to acquire a 49% stake in The Jordre Well, a CBD beverage company. This partnership will facilitate the development of CBD-infused coffee products and new beverage brands, leveraging Coffee Holding's distribution network. Following the legalization of hemp, the company aims to capitalize on the growing CBD market, projected to reach $16 billion by 2025. The first CBD-infused products will feature Café Caribe and Harmony Bay brands, indicating a strategic move to meet consumer demand for CBD beverages.

Coffee Holding Co. (Nasdaq: JVA) reported its operating results for the three and nine months ended July 31, 2020. Net sales fell to $17.34 million, down 19.7% from the prior year, attributing the decline to COVID-19 impacts on food service customers. However, net income increased to $391,324, or $0.07 per share, due to reduced operating expenses and a favorable product mix. The company anticipates a sales rebound as restrictions ease and inventory depletes heading into its historically strong sales months.

Coffee Holding Co. (Nasdaq: JVA) reported its operating results for the three and nine months ending July 31, 2020. Net sales fell by 19.7% to $17.34 million for Q3 2020 and by 14% to $56.73 million for the nine-month period, largely due to the COVID-19 pandemic impacting restaurant and food service clients. Despite sales declines, gross profit margins improved to 22.1% for Q3. The company achieved net income of $391,324 ($0.07 per share) for Q3 2020 compared to $111,494 ($0.02 per share) in Q3 2019. Cost reductions contributed to profitability amid challenging market conditions.