Farmer Bros. Q1 net loss widens to $7.4M; sales up 12% but margin slides

FARMER BROTHERS CO

2023-Q1 EPS reported -$0.39 revenue$121,380,000

Net sales $121.4M (+12% YoY); gross margin 21.9% vs 29.0% a year ago.
Net loss $7.4M ($0.39 diluted loss) vs $2.4M loss ($0.14) in prior year.
Adjusted EBITDA loss of $4.9M vs income of $3.5M; margin (4.0)% vs 3.2%.
Total debt $114.0M, cash $7.6M as of Sep 30, 2022.
CEO cites short-term pricing/inflation pressures; margin recovery reportedly underway in Q2.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.99

FARMER BROTHERS CO reported first fiscal quarter ended September 30, 2022 results: revenue $121.4 million, net income $7.4 million, EPS $(0.39).

Period: first fiscal quarter ended September 30, 2022
Revenue: $121.4 million
Net income: $7.4 million
EPS: $(0.39)
Result: reported results

Exact text from the filing

Co. (NASDAQ: FARM) (the “Company”) today reported financial results for its first fiscal quarter ended September 30, 2022. First Quarter Fiscal 2023 Highlights: • Net sales were $121.4 million , an increase of $13.0 million , or 12.0% , from the prior year pe riod • Gross margin in the period was 22% compared to 29% in the prior year period, • Net loss was $7.4 million

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Source: SEC EDGAR

accession 0000034563-22-000096

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