Farmer Bros swings to a profit driving shares higher [Seeking Alpha]
Farmer Brothers Company (FARM)
Last farmer brothers company earnings: 2/6 04:05 pm
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US:NASDAQ Investor Relations:
farmerbrothers.gcs-web.com/investor-overview
Company Research
Source: Seeking Alpha
Shares were up more than 17% in premarket trading. The Texas-based coffee distributor earned a profit of $0.13 per share versus a loss of $0.47 in the prior year's quarter on net sales of $89.5M, up $600K from the same quarter last year. Driven by improved pricing and a decrease in underlying commodity costs, gross margin increased by 550 basis points to 40.4%. Adjusted EBITDA jumped to $2.3M versus a loss of $2.2M last year, raising its adjusted EBITDA margin to 2.6% from negative 2.5% previously. In fiscal 2024, Farmer Bros. expects $12M-$15M in capital expenditures to be financed through cash flow from operations and borrowings through its credit facility. The company had $6.9M of unrestricted cash and cash equivalents, outstanding borrowings of $23.3M, utilized $4.6M of LOC funding, and had $24.5M of available cash under its credit facility. As a result, the company believes it is adequately funded through 2024 and should become free cash flow positive by early fiscal 2
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FARM
News
- Farmer Brothers to report fiscal third quarter 2024 financial resultsGlobeNewswire
- The past five years for Farmer Bros (NASDAQ:FARM) investors has not been profitable [Yahoo! Finance]Yahoo! Finance
- SHOTT Showcases 100 Unrivaled Flavored Syrups at 2024 Specialty Coffee Expo [Yahoo! Finance]Yahoo! Finance
- Zacks Industry Outlook Highlights Performance Food Group, Sprouts Farmers Market and Farmer Bros [Yahoo! Finance]Yahoo! Finance
- Watch These 3 Natural Food Stocks on Stellar Industry Trends [Yahoo! Finance]Yahoo! Finance
FARM
Earnings
- 2/8/24 - Beat
FARM
Sec Filings
- 4/1/24 - Form 4
- 3/15/24 - Form 4/A
- 3/15/24 - Form 8-K
- FARM's page on the SEC website