secwatch.observer — SEC 8-K summary
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Issuer:     FARMER BROTHERS CO (FARM)
CIK:        0000034563
Form:       8-K
Filed at:   2023-05-10T23:59:59+00:00
Accession:  0000034563-23-000051
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Farmer Bros. Q3 net loss $11.4M, net sales up 4% to $124.2M; debt covenant risk flagged
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- Net sales $124.2M (+4% YoY); DSD revenue grew double digits; DS down mid-single digits.
- Net loss $11.4M vs. $13.6M loss in Q2; gross margin 23.1% improved 20 bps sequentially.
- Adjusted EBITDA loss $800K (improved from -$3.1M in Q2); adj. EBITDA margin -0.6%.
- Outstanding debt $112.4M; company may not meet debt covenant by June 30, 2023; plans to cure or refinance.
- Launched SHOTT syrup concentrate line; REVIVE equipment service securing national accounts.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/34563/000003456323000051/0000034563-23-000051-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/34563/000003456323000051/farm-20230510.htm
  HTML page:      https://secwatch.observer/filing/0000034563-23-000051

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