secwatch.observer — SEC 8-K summary
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Issuer:     FARMER BROTHERS CO (FARM)
CIK:        0000034563
Form:       8-K
Filed at:   2023-02-08T23:59:59+00:00
Accession:  0000034563-23-000005
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Farmer Bros. Q2 net sales +12% to $132.7M; net loss $13.6M vs $5.4M; Adj EBITDA loss $3.1M
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- Net sales $132.7M (+12% YoY); net loss $13.6M vs $5.4M loss prior year.
- Gross margin 22.9% (down from 29.5% YoY) but sequentially improved; expects margin recovery in H2.
- Adjusted EBITDA loss $3.1M vs income $4.5M prior year; sequentially improved from loss $4.9M.
- Unrestricted cash grew ~$8M to >$17M; appointed new head of DSD business.
- CEO states Q2 likely high-water mark for coffee cost per pound; expects margin improvement.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/34563/000003456323000005/0000034563-23-000005-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/34563/000003456323000005/farm-20230208.htm
  HTML page:      https://secwatch.observer/filing/0000034563-23-000005

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