Exhibit 99.1


fbclogoa12.jpg

Farmer Bros. Co. Reports Second Quarter Fiscal 2019 Financial Results


NORTHLAKE, Texas, Feb. 11, 2019 (GLOBE NEWSWIRE) -
Farmer Bros. Co. (NASDAQ: FARM) (the "Company") today reported financial results for its second fiscal quarter ended December 31, 2018.

Second Quarter Fiscal 2019 Highlights:

Volume of green coffee processed and sold decreased by 1.7 million pounds to 27.4 million pounds, a 5.8% decrease over the prior year period;
Green coffee pounds processed and sold through our DSD network were 9.9 million, or 36.0% of total green coffee pounds processed and sold
Direct ship customers represented 17.0 million, or 62.2%, of total green coffee pounds processed and sold
Distributor customers represented 0.5 million pounds, or 1.8%, of total green coffee pounds processed and sold
Net loss was $(10.1) million compared to net loss of $(17.1) million in the prior year period; and
Adjusted EBITDA was $12.4 million compared to $10.5 million in the prior year period.*

(*Adjusted EBITDA, a non-GAAP financial measure, is reconciled to its corresponding GAAP measure at the end of this press release.)

“As we pass the halfway mark in fiscal 2019, while sales were softer than anticipated during the quarter, our team has continued to make progress in executing our strategy and implementing initiatives to strengthen our platform,” said Mike Keown, President and CEO. “Our results in the second quarter reflect the realization of the synergies from the Boyd’s acquisition and we are pleased to have improved Adjusted EBITDA by 18%, while also remaining on track to achieve our targeted range for the fiscal year of $49 million to $52 million. We are making headway in optimizing our DSD routes and consolidating branches, while also continuing to enhance our street sales teams. Our team continues to focus on adding new customers as well as increasing business with existing customers. Looking forward, we remain optimistic about Farmer Brothers’ long-term growth opportunities and we believe that we have the right foundation in place to deliver value for our shareholders.”



The following information was filed by Farmer Brothers Co (FARM) on Monday, February 11, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

This feature is available for

Last10K.com Members Only

Real-Time Notifications

REAL-TIME NOTIFICATIONS

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.


This feature is available for

Last10K.com Members Only

Sentiment Analysis

SENTIMENT ANALYSIS

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.


This feature is available for

Last10K.com Members Only

Increased Reading Area

INCREASED READING AREA

Remove data columns and navigations in order to see much more filing content and tables in one view.


This feature is available for

Last10K.com Members Only

Disclosures

DISCLOSURES

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q.

Log in with your credentials

or    

Forgot your details?

Create Account