Farmer Bros. Co. Reports Earnings Results for the Third Quarter and Nine Months Ended March 31, 2022
May 06, 2022 at 01:41 am IST
Share
Farmer Bros. Co. reported earnings results for the third quarter and nine months ended March 31, 2022. For the third quarter, the company reported sales was USD 119.4 million compared to USD 93.15 million a year ago. Net loss was USD 4.04 million compared to USD 13.68 million a year ago. Basic loss per share from continuing operations was USD 0.23 compared to USD 0.78 a year ago. Diluted loss per share from continuing operations was USD 0.23 compared to USD 0.78 a year ago.
For the nine months, sales was USD 346.21 million compared to USD 294.99 million a year ago. Net loss was USD 11.88 million compared to USD 37.68 million a year ago. Basic loss per share from continuing operations was USD 0.68 compared to USD 2.17 a year ago. Diluted loss per share from continuing operations was USD 0.68 compared to USD 2.17 a year ago.
Farmer Bros. Co. is a coffee roaster, wholesaler and distributor of coffee, tea and culinary products. It serves a range of customers, including small independent restaurants, foodservice operators and large institutional buyers, such as restaurants, department and convenience store chains, hotels, casinos, healthcare facilities and gourmet coffee houses, as well as grocery chains with private brand and consumer-branded coffee and tea products, and foodservice distributors. It offers a robust product line, including organic, Direct Trade, Project D.I.R.E.C.T. and other sustainably produced coffees, iced and hot teas, cappuccino, spices, and baking/biscuit mixes, among others. It also offers value-added services, such as market insight, beverage planning, and equipment placement and service. Its owned brand products are sold primarily into the foodservice channel. Its brands include Farmer Brothers, Artisan Collection by Farmer Brothers, Superior, Metropolitan, China Mist and Boyds.