Farmer Bros. reports Q4 EPS (22c), consensus (27c)

Reports Q4 revenue $84.4M, consensus $81.87M. “This past year was a transformative one for Farmer Brothers,” said President and CEO John Moore. “The decision to sell our direct ship business and focus on our more profitable DSD business helped significantly improve our gross margins and drive adjusted EBITDA profitability and overall operational efficiency. While we are proud of the significant progress we have made to date, there is still much more to be done as we complete our SKU rationalization and brand pyramid efforts, further streamline our operations and focus on driving customer growth and retention. We remain confident we are building a foundation which will generate long-term, sustainable growth and value creation for our shareholders.”