---
schema_version: "secwatch.filing_event.v1"
accession: "0000034563-23-000082"
form_type: "8-K"
ticker: "FARM"
cik: "0000034563"
company_name: "FARMER BROTHERS CO"
filed_at: "2023-11-09T23:59:59+00:00"
generated_at: "2026-06-08T07:58:55.125563+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Farmer Bros Q1 net sales $81.9M, gross margin +380bps; settles activist shareholder dispute

## Summary
- Net sales $81.9M (up from $79.8M YoY); gross margin 37.6% vs 33.8% prior year.
- Net loss from continuing ops $1.3M vs $1.6M loss YoY; adjusted EBITDA loss $452K (improved from $3.9M loss).
- Appointed John Moore as interim CEO; board to nominate five new directors, including Stacy Loretz-Congdon, David Pace, Bradley Radoff, Waheed Zaman, and CEO.
- Alfred Poe will not stand for re-election; board size fixed at six with new chairman after annual meeting.
- Company executing DSD focus, expects positive free cash flow by early fiscal 2025; capex guidance $16-18M.

## SEC filing metadata
- accession: 0000034563-23-000082
- form_type: 8-K
- ticker: FARM
- cik: 0000034563
- company_name: FARMER BROTHERS CO
- filed_at: 2023-11-09T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 2.02, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/34563/000003456323000082/0000034563-23-000082-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/34563/000003456323000082/farm-20231109.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000034563-23-000082
- JSON: https://secwatch.observer/filing/0000034563-23-000082.json
- Plain text: https://secwatch.observer/filing/0000034563-23-000082.txt

## Key facts
- Earnings Releases
  FARMER BROTHERS CO reported first fiscal quarter ended September 30, 2023 results: revenue $81.9 million, net income Net loss from continuing operations was $1.3 million.
  - Period: first fiscal quarter ended September 30, 2023
  - Revenue: $81.9 million
  - Net income: Net loss from continuing operations was $1.3 million
  - Result: reported results
  source text: Farmer Brothers reports first quarter fiscal 2024 financial results and publishes quarterly shareholder letter Fiscal Q1 2024 net sales of $81.9 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/34563/000003456323000082/0000034563-23-000082-index.htm
- Executive change
  Alfred Poe departed as Director at FARMER BROTHERS CO.
  - Action: not stand for re-election
  - Role: Director
  source text: Mr. Poe will serve out the rest of his term as a director of the Company, which will expire as of immediately prior to the 2023 Annual Meeting.
  evidence_url: https://www.sec.gov/Archives/edgar/data/34563/000003456323000082/0000034563-23-000082-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.