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Farmer Brothers (FARM)

Founded in 1912, Farmer Bros. Co. is a national coffee roaster, wholesaler, equipment servicer, and distributor of coffee, tea, and culinary products. The Company's product lines include organic, Direct Trade, and sustainably produced coffee. With a robust line of coffee, hot and iced teas, cappuccino mixes, spices, and baking/biscuit mixes, the Company delivers extensive beverage planning services and culinary products to its U.S.-based customers. The Company serves a wide variety of customers, from small independent restaurants and foodservice operators to large institutional buyers like restaurant, department and convenience store chains, hotels, casinos, healthcare facilities, and gourmet coffee houses, as well as grocery chains with private brand coffee and consumer branded coffee and tea products, and foodservice distributors.

Company profile

Ticker
FARM
Exchange
CEO
Deverl Maserang
Employees
Incorporated
Location
Fiscal year end
SEC CIK
Subsidiaries
FBC Finance Company • Coffee Bean Holding Co., Inc. • Coffee Bean International, Inc. • China Mist Brands, Inc. • Boyd Assets Co. ...
IRS number
950725980

FARM stock data

Calendar

5 May 22
20 Aug 22
30 Jun 23
Quarter (USD) Mar 22 Dec 21 Sep 21 Jun 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Jun 21 Jun 20 Jun 19 Jun 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 10.55M 10.55M 10.55M 10.55M 10.55M 10.55M
Cash burn (monthly) (no burn) (no burn) 1.32M 1.48M 344K 635.42K
Cash used (since last report) n/a n/a 6.13M 6.89M 1.6M 2.96M
Cash remaining n/a n/a 4.43M 3.66M 8.95M 7.6M
Runway (months of cash) n/a n/a 3.4 2.5 26.0 12.0

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
18 Jul 22 Scott Ray Drake Common Stock Payment of exercise Dispose F No No 5.01 2,322 11.63K 152,046
3 May 22 Matthew Coffman Common Stock Grant Acquire A No No 0 7,949 0 7,949
12 Apr 22 Jared Vitemb Common Stock Grant Acquire A No No 0 31,034 0 31,034
60.0% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 49 53 -7.5%
Opened positions 3 6 -50.0%
Closed positions 7 19 -63.2%
Increased positions 23 21 +9.5%
Reduced positions 15 20 -25.0%
13F shares Current Prev Q Change
Total value 58.98M 75.02M -21.4%
Total shares 11.07M 10.61M +4.3%
Total puts 0 22K EXIT
Total calls 0 10.2K EXIT
Total put/call ratio 2.2
Largest owners Shares Value Change
22NW 1.42M $6.65M 0.0%
Kennedy Capital Management 971.64K $4.56M -1.1%
Tocqueville Asset Management 834.3K $3.91M +39.3%
Azarias Capital Management 809.86K $3.8M +16.4%
JCP Investment Management 762.76K $3.58M 0.0%
GBL Gamco Investors 758.59K $3.56M -1.0%
Dimensional Fund Advisors 601.34K $2.82M +10.1%
Penn Capital Management 594.95K $2.79M +29.6%
Renaissance Technologies 568.9K $2.67M -2.6%
Vanguard 539.19K $2.53M +27.3%
Largest transactions Shares Bought/sold Change
Tocqueville Asset Management 834.3K +235.5K +39.3%
Penn Capital Management 594.95K +135.84K +29.6%
Vanguard 539.19K +115.52K +27.3%
Azarias Capital Management 809.86K +113.98K +16.4%
Susquehanna International 0 -105.39K EXIT
Adage Capital Partners GP, L.L.C. 301.23K -100K -24.9%
Hodges Capital Management 153.04K +83.54K +120.2%
Dimensional Fund Advisors 601.34K +54.96K +10.1%
Millennium Management 107.56K -47.75K -30.7%
S. Muoio & Co. 0 -31.99K EXIT

Financial report summary

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Competition
SyscoStarbucksPrimo WaterMedifast
Risks
  • We face exposure to other commodity cost fluctuations, which could impact our margins and profitability.
  • Our efforts to secure an adequate supply of quality coffees and other raw materials may be unsuccessful and impact our ability to supply our customers or expose us to commodity price risk.
  • We rely on co-packers to provide our supply of tea, spice, culinary and other products. Any failure by co-packers to fulfill their obligations or any termination or renegotiation of our co-pack agreements could adversely affect our results of operations.
  • Customer quality control problems or food safety issues may adversely affect our brands thereby negatively impacting our sales or leading to potential product recalls or product liability claims.
  • Our ability to use our net operating loss carryforwards to offset future taxable net income may be subject to certain limitations.
  • We could face significant withdrawal liability if we withdraw from participation in the multiemployer pension plans in which we participate.
  • Litigation pending against us could expose us to significant liabilities and damage our reputation.
  • We are self-insured and our reserves may not be sufficient to cover future claims.
  • Our liquidity has been adversely affected as a result of our operating performance in recent periods and may be further materially adversely affected by constraints in the capital and credit markets and limitations under our financing arrangements.
  • Our outstanding Series A Preferred Stock or future equity offerings could adversely affect the holders of our common stock in some circumstances.
  • Anti-takeover provisions or stockholder dilution could make it more difficult for a third party to acquire us.
  • Volatility in the equity markets or interest rate fluctuations could substantially increase our pension funding requirements and negatively impact our financial position.
  • Failure to prevent the unauthorized access, use, theft or destruction of personal, financial and other confidential information relating to our customers, suppliers, employees or our Company, could damage our business reputation, negatively affect our results of operations, and expose us to potential liability.
Management Discussion
  • We are a national coffee roaster, wholesaler and distributor of coffee, tea and culinary products manufactured under supply agreements, under our owned brands, as well as under private labels on behalf of certain customers. We were founded in 1912, incorporated in California in 1923, and reincorporated in Delaware in 2004. Our principal office is located in Northlake, Texas. We operate in one business segment.
  • We serve a wide variety of customers, from small independent restaurants and foodservice operators to large institutional buyers like 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. We are a coffee company dedicated to deliver the coffee people want, the way they want it. We are focused on being a growing and profitable forward-thinking industry leader, championing coffee culture through understanding, leading, building and winning in the business of coffee. Through our sustainability, stewardship, environmental efforts, and leadership we are not only committed to serving the finest products available, considering the cost needs of the customer, but also insist on their sustainable cultivation, manufacture and distribution whenever possible.
  • Our product categories consist of a robust line of roast and ground coffee, including organic, Direct Trade, Project D.I.R.E.C.T.® and other sustainably-produced offerings; frozen liquid coffee; flavored and unflavored iced and hot teas; including organic and Rainforest Alliance Certified™; culinary products including premium spices, pancake and biscuit mixes, gravy and sauce mixes, soup bases, dressings, syrups and sauces, and coffee-related products such as coffee filters, cups, sugar and creamers; and other beverages including cappuccino, cocoa, granitas, and other blender-based beverages and concentrated and ready-to-drink cold brew and iced coffee. We offer a comprehensive approach to our customers by providing not only a breadth of high-quality products, but also value added services such as market insight, beverage planning, and equipment placement and service.

Content analysis

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Positive
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Uncertain
Constraining
Legalese
Litigous
Readability
H.S. freshman Avg
New words: allied, called, larger, leading, left, overnight, published, slower, USD
Removed: allocated, allocation, collateralized, continuation, covenant, decided, declined, formula, individually, modified, resulted, trustee