Farmer Bros Q3 net sales $85.4M; gross margin expands 660 bps to 40.1%

FARMER BROTHERS CO

2024-Q3 EPS reported $0.03 revenue$256,698,000

Net loss from continuing ops improved to $0.7M from $6.9M YoY; adjusted EBITDA positive $0.27M.
Gross margin 40.1% vs 33.5% prior year; gross profit up 19% to $34.2M.
Operating expenses down slightly to $34.7M helped by $2.3M gains on asset sales.
Cash $5.5M; $30.5M revolver availability; target free cash flow positive in early fiscal 2025.
CEO cites early wins from DSD transformation, roasting consolidation to Portland facility.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

FARMER BROTHERS CO reported third fiscal quarter ended March 31, 2024 results: revenue $85.4 million, net income loss of $0.7 million.

Period: third fiscal quarter ended March 31, 2024
Revenue: $85.4 million
Net income: loss of $0.7 million
Result: reported results

Exact text from the filing

exhibits. --- EX-99.1 (EX-99.1) --- Farmer Brothers reports third quarter fiscal 2024 financial results and publishes quarterly shareholder letter Fiscal Q3 2024 net sales of $85.4 million Gross margin increase of 660 basis points year-over-year to 40.1% NORTHLAKE, Texas, May, 9, 2024 – Farmer Bros. Co. (NASDAQ: FARM) today reported its third quarter fiscal 2024

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Source: SEC EDGAR

accession 0000034563-24-000044

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