FARM - Coffee Foodservice Company Farmer Brothers Posts Mixed Q4 Earnings | Benzinga
Farmer Brothers Company (NASDAQ: FARM) reported fourth-quarter FY23 sales growth of 1% year-on-year to $85.496 million, beating the analyst consensus of $85.20 million.
Revenue was virtually flat on a quarter-over-quarter basis, reflecting significant increases in realized price largely offset by lower pound volumes.
Gross profit for the quarter decreased 22.7% to $27.8 million with a margin of 32.5%.
General and administrative expenses fell 9.3% to $10.3 million. The operating loss for the quarter expanded to $(10.1) million from $(705,000) last year.
The adjusted EBITDA loss was $(7.2) million compared to an income of $7.1 million ...