Farmer Brothers Company (FARM) Financial Statements (2024 and earlier)

Company Profile

Business Address 1912 FARMER BROTHERS DRIVE
NORTHLAKE, TX 76262
State of Incorp. DE
Fiscal Year End June 30
Industry (SIC) 209 - Miscellaneous Food Preparations And Kindred (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2023
MRQ
6/30/2023
12/31/2022
MRQ
6/30/2022
6/30/2021
6/30/2020
6/30/2019
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments5,24417,6249,81910,26360,0136,983
Cash and cash equivalents5,24417,6249,81910,26360,0136,983
Receivables45,12950,31346,93540,32141,71356,346
Inventory, net of allowances, customer advances and progress billings49,27683,53799,61876,79167,40887,910
Inventory49,27683,53799,61876,79167,40887,910
Prepaid expense5,3344,4804,4915,5947,4146,804
Derivative instruments and hedges, assets681,8363,0224,3511651,865
Asset, held-for-sale, not part of disposal group7,7701101,0321,591  
Other undisclosed current assets1752,316175175  
Total current assets:112,996160,216165,092139,086176,713159,908
Noncurrent Assets
Operating lease, right-of-use asset24,59327,34127,95726,25421,117
Property, plant and equipment33,782133,726138,150150,091165,633189,458
Intangible assets, net (including goodwill)13,49314,67815,86318,25220,66265,102
Goodwill      36,224
Intangible assets, net (excluding goodwill)13,49314,67815,86318,25220,66228,878
Derivative instruments and hedges     10674
Other noncurrent assets2,9173,0333,0094,3238,5649,468
Total noncurrent assets:74,785178,778184,979198,920215,986264,702
TOTAL ASSETS:187,781338,994350,071338,006392,699424,610
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities70,17071,54182,39961,04846,38187,289
Employee-related liabilities14,76115,3459,39414,518
Accounts payable60,08862,61652,87745,70336,98772,771
Accrued liabilities10,0828,92514,761   
Debt  3,1333,8009505,85434
Derivative instruments and hedges, liabilities2,6365,3522,3491,5555,2551,474
Other liabilities4,5195,6266,0956,4256,8027,309
Other undisclosed current liabilities8,0407,974(7,040)6,262  
Total current liabilities:85,36593,62687,60376,24064,29296,106
Noncurrent Liabilities
Long-term debt and lease obligation23,272109,131124,294153,155137,63792,001
Long-term debt, excluding current maturities23,021109,131103,123133,106122,00092,000
Capital lease obligations1
Finance lease, liability 251 409 9
Liabilities, other than long-term debt40,34253,29932,8698,74168,69455,808
Accounts payable and accrued liabilities3,0652,7043,1693,6494,5694,747
Liability, pension and other postretirement and postemployment benefits19,58329,32028,361 58,59347,038
Other liabilities5371,3371,3395,0925,5324,023
Operating lease, liability17,15719,93820,76220,04915,628
Other undisclosed noncurrent liabilities 690 557(5,089)10,16323,201
Total noncurrent liabilities:64,304162,430157,720156,807216,494171,010
Total liabilities:149,669256,056245,323233,047280,786267,116
Equity
Equity, attributable to parent38,11282,938104,748104,959111,913157,494
Preferred stock   15151515
Common stock20,14419,68318,46617,85317,34817,042
Additional paid in capital77,27874,09471,99766,10962,04357,912
Accumulated other comprehensive loss(32,831)(42,558)(38,431)(45,329)(76,029)(63,652)
Retained earnings (accumulated deficit)(26,479)31,71952,70166,311108,536146,177
Total equity:38,11282,938104,748104,959111,913157,494
TOTAL LIABILITIES AND EQUITY:187,781338,994350,071338,006392,699424,610

Income Statement (P&L) ($ in thousands)

9/30/2023
TTM
6/30/2023
12/31/2022
TTM
6/30/2022
6/30/2021
6/30/2020
6/30/2019
Revenues339,96427,265469,193397,850501,320595,942
Cost of revenue
(Cost of Goods and Services Sold)
(225,351)(280,924)(332,277)(296,925)(363,198)(416,840)
Gross profit:114,61392,546136,916100,925138,122179,102
Operating expenses(135,572)(107,500)(151,544)(139,098)(181,124)(193,804)
Operating loss:(20,959)(14,954)(14,628)(38,173)(43,002)(14,702)
Nonoperating income (expense)(13,404)(9,895)(1,334)10,1175,720(18,782)
Other nonoperating income (expense)(4,242)(83)8,18219,72010,4434,166
Interest and debt expense(9,162)(9,812)(9,516)(15,962)(10,483)(12,000)
Other undisclosed income from continuing operations before equity method investments, income taxes    15,96210,48312,000
Loss from continuing operations before equity method investments, income taxes:(43,525)(34,661)(25,478)(28,056)(37,282)(33,484)
Other undisclosed income from continuing operations before income taxes9,1629,8129,516   
Loss from continuing operations before income taxes:(34,363)(24,849)(15,962)(28,056)(37,282)(33,484)
Income tax expense (benefit)325(172)301(13,595)195(40,111)
Loss from continuing operations:(34,038)(25,021)(15,661)(41,651)(37,087)(73,595)
Loss before gain (loss) on sale of properties:(11,413)(15,661)(41,651)(37,087)(73,595)
Loss from discontinued operations (45,142)     
Other undisclosed net loss      
Net loss:(79,180)(25,021)(15,661)(41,651)(37,087)(73,595)
Other undisclosed net loss attributable to parent  (1)    
Net loss attributable to parent:(79,180)(25,022)(15,661)(41,651)(37,087)(73,595)
Preferred stock dividends and other adjustments  (149)(594)(574)  
Undistributed earnings (loss) allocated to participating securities, basic (3,272)(196)  (179)(76)
Other undisclosed net income (loss) available to common stockholders, basic 3,272196  (375)(459)
Net loss available to common stockholders, diluted:(79,180)(25,171)(16,255)(42,225)(37,641)(74,130)

Comprehensive Income ($ in thousands)

9/30/2023
TTM
6/30/2023
12/31/2022
TTM
6/30/2022
6/30/2021
6/30/2020
6/30/2019
Net loss:(79,180)(25,021)(15,661)(41,651)(37,087)(73,595)
Other comprehensive income (loss)(2,384)(2,428)12,172   
Comprehensive loss:(81,564)(27,449)(3,489)(41,651)(37,087)(73,595)
Other undisclosed comprehensive income (loss), net of tax, attributable to parent7,984(4,132)(5,274)30,700(12,377)(1,614)
Comprehensive loss, net of tax, attributable to parent:(73,580)(31,581)(8,763)(10,951)(49,464)(75,209)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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