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Farmer Bros. Co. (FARM)

NasdaqGS - NasdaqGS Real Time Price. Currency in USD
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5.56-0.18 (-3.14%)
At close: 4:00PM EST

5.56 0.00 (0.00%)
After hours: 4:00PM EST

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  • F
    FARMisoutofcontrol
    Huh, they write their own amazing sounding news release and the stock goes ridiculous both price and volume-wise. I suspect it will slow down a bit and then head back into a decline. This isn’t really exciting news in my opinion. Basically, a cold brew company that couldn’t get a distribution company that specializes in RTD Retail ended up with this company to help them with a retail distribution product. I doubt that restaurant customers would even touch this which leaves C-Stores as a market, but a company who isn’t familiar with how actual retail works is going to sell a product that they don’t make and a brand that isn’t well known outside of Austin, TX. Sounds like a recipe for success. 🙄
  • S
    Samuel
    Bullish Pattern, bought 4908 @3.87. Ever since they started rolling out the vaccines. There's been increasing activity in the restaurant and hospitality industry. I have also been seeing the event Industry is ramping up for a big 2021. I'm expecting the imbalance between supply and demand will drive the price of this stock up eventually. Adding this to my Post-Covid portfolio. The low volume of this stock indicates that I'm early.
    Bullish
  • E
    Elyssa
    This stock is one of the most undervalued I have seen during the Covid pandemic. This will be one of the main stocks that will climb once all this is over. There's going to be a lot of activity in the restaurant industry driven by holes that covid left. I can see this stock hitting 40.
    Bullish
  • Y
    Yahoo Finance Insights
    Farmer Bros is up 8.51% to 5.10
  • M
    Mark Krieger
    Farmer Brothers And Coffee Holdings-Both Ten Baggers? - Mark Krieger
    seekingalpha.com
  • B
    Brent
    For a while now (pre COVID), Farm has had no options. They are in a declining business segment and don't have any new ways to generate revenue in the future. With high Debt and few assets, they don't have the money it would take to enter a new segment. At this point, they don't even have the money to consolidate manufacturing.

    The original plan was move from Torrance and consolidate to 1 facility. That was the model used to make the decision to leave Torrance because it was the most efficient footprint. The Board somehow decided to keep multiple plants open and the entire cost structure remained. There was a plan to reduce costs, they just never followed it.

    This is now a zero EBITDA business with no way to significantly impact costs or enter a new business segment. The Company has been 'cost cutting' for the past 10 years. There are no significant levers left to pull. Most of the 'reduction' they are advertising now is from sales force layoffs - which result in lower sales down the road. This was all happening pre-covid - now it is a more accelerated decline.
  • W
    W
    Remember in 2010 after the purchase of the DSD business from Sara Lee, Laverty put the Sara Lee team in charge. This decision almost put the company out of business because of the organizational changes and poor integration strategy they implemented. So after the board moved on from that team and Laverty in 2011, the new co CEO’s turned to the legacy Farmer Brothers team led by Tom Mortensen to turn the DSD group around. Historically this has been the most important sales group in the company and responsible for delivering the profit. Well that’s what happened, the organizational structure was corrected, pricing, equipment and morale restored. When Mike was hired in 2012, Tom was promoted and made an officer of the company. The changes were already in place and being executed when Mike was hired although he likes to take credit for work he had nothing to do with. So things turned around, profits and share price restored until Tom decided to retire in mid 2015. Once Tom retired. Mike and his buddies on the board decided they were going to change things. They began to change the organization to closely resemble the failed changes made by the Sara Lee team. Remember none of these individuals were around during the Sara Lee debacle. They ignored the people that tried to warn them of the failure of these changes previously. They also decided that they would get rid of as many of the long term employees, that had helped build and assisted in the turn around in 2011, as possible in 2016 and 2017. Low and behold these decisions and changes have failed miserably and continue to plague the company today. Don’t forget these long time board members helped develop this losing strategy and are just as responsible as Mike. Really quite hypocritical to hold Mike accountable and not themselves. Now Mrs. Farmer Grossman is nominating Tom Mortensen and Jonathan Waite to the board. Both of these individuals have a PHD in the company and industry. They both played integral roles in the post Laverty turn around and give you the best opportunity to save your investment. Mrs. Farmer Grossman is trying to save you again and you better listen this time. Just some history so you understand that both non Farmer led groups have failed miserably and it’s going to happen again with this current board and new CEO that has no knowledge or experience in the DSD industry. All you have to do is review the results! Best of luck.
  • P
    Paul
    This was posted this AM. on Seeking Alpha, I'm pretty sure this is really bad, especially since the company has maxed out it's line of credit and already sold everything they had owned. Add in reduced sales from customers and you are looking at the perfect storm....
    COVID-19 Response
    Looking at some of their customers – restaurants, hotels, casinos – it’s not surprising that the COVID-19 crisis is going to have a large negative effect on business.
    In the recent 10-Q for the period ended 3/31/2020, FARM stated they have projected to break some of the covenants in their credit revolver. This would allow the lender to immediately demand all the outstanding amount due, which was $122 million as of 5/7/20. The company does not expect to have enough cash to cover this amount, which would jeopardize the ability to continue as a going concern.
  • W
    W
    Finally they release the earnings call transcript and you can understand why it took so long to get it out. It is unbelievable that they allowed this to happen the DSD group. Don’t believe for one minute that the longer term members of this board were not responsible for the changes that were made to the DSD group that have created the mess they are in now. They not only approved of the changes but were instrumental in developing the changes that Mike and his team implemented. This has cost this company and shareholders a great deal of money. If you think this group can implement the needed changes to fix this you really need a reality check. They do not understand this business because if they did they wouldn’t have screwed it up. They have to be replaced ASAP.
  • F
    FARMisoutofcontrol
    Interesting financials. It appears they made money, but a more detailed look indicates they were profitable because they sold assets. No assets sales = loss of $7.95M or $0.466 per share. Indicating that they finished worse than investor predictions.
  • F
    FARMisoutofcontrol
    These financials will be interesting to see. If they’ve lost a lot of money this quarter that is completely on them, at least 90% worth. This virus lockdown started 3/15ish and then slowly spread. A mere 15 days left in the quarter. DON’T let them persuade you into believing their short comings in Q3 are 100% COVID because that kind of deflection has been their go to for years now. The world is always going to have problems, that’s for sure. This company’s problem is that they can’t take responsibility and continually blame the world for these shortcomings. Go check out the last 10 years of financials and press releases if you don’t believe me. If it’s not a hurricane’s fault, then surely it’s because of a flood or an earthquake. They’ve blamed it on everything, but never once have they blamed it on themselves. This report will most likely be no different. Just own it. (However, I will let them blame losses in Q4 on COVID. I’m pretty sure that will be legit. Their ability to survive COVID - well that will be their fault for being over leveraged and under diversified.)
  • W
    W
    This board almost double their salaries/ retainer last year from I believe 37 to 60 thousand. Why are we as investors allowing that to happen with these results? This means that each board member is probably making over six figures for a part time job. They also pushed off the only board member that had any understanding of this business which should be very concerning to all shareholders. Hopefully some of the large investment groups will get tired of losing their money and take action to help make some necessary changes that will give this company a chance.
  • J
    John
    Ad promptum est cogitare. Ut difficile sit agere. http://dataunion.tistory.com/9982 quis apud obstacula in vita quam habet
  • P
    Paul
    (FARM) (the “Company”) today announced that the Company will release financial results for its third quarter ended March 31, 2020 and provide an update on its third quarter events after the market closes on Thursday, May 7, 2020.
  • W
    W
    Here they go again selling off shareholder assets to raise cash for their failed strategies that were supposed to turn around the company. These are assets that this over 100 year old company has acquired and built for shareholders. They are using them to finance poor decisions like the DSD reorg, the channel sales strategy, the vetting and subsequent over valuation of the Boyd business, the 3pl logistics decision and the list goes on and on. This so called professional management team continues to implement strategies and programs that don’t work and they want to use company assets to bail themselves out. We have to stop this and get people that can and have actually turned the company around after a previous failed management team almost put the company out of business. Look at the results, selling your assets, taking on large amounts of debt and leaving us shareholders holding the empty bag. This has to stop. Force changes and save this great company.
  • O
    Old
    Andy, I sold at $37. When the family began losing control of the company and the old CEO was determined to remove employees that had knowledge of the coffee industry, I knew it was not going to be good. This stock will bounce around $10 for a while but they are running out of assets to sell and I happen to know that they are bleeding business.
  • W
    W
    The shareholders need to make their voices heard and not let the current board choose the next CEO. They have done enough damage. Why would we let them make more bad decisions that will cost us money. The long term directors, which include the current Interim CEO and Chairman do not have our best interest in mind and need to be removed so a proper decision on the future leader of this company can be made. These long term directors continue to show their arrogance and act like they somehow should not be held responsible for the current state of this company. They need to step aside and let the family, less Richard, lead this company back to profitability. It’s your money and the family tried to warn once and you probably won’t get another chance to save your investment.
  • P
    Paul
    POP UP SALE!!
    (These are happening all over the country)
    Daily, Apr 4 - Apr 5
    DFW - Farmer Brothers Warehouse Community Sale - 2 Days Only!
    Farmer Brothers
    Warehouse Community Sale. 2 Days Only!

    In South parking lot (near IM Burger and IHOP)

    In order to help with our local community with shortages on supplies, Farmer Brothers is offering some of the basic food items you may need, priced below retail pricing. Items will include coffee (ground and k-cups), tea, spices and biscuit mix.

    Don't miss out on your chance to get these great items at
    incredible Wholesale Prices!

    Saturday & Sunday Hours: 9:00 am – 1:00 pm

    Location: 2016 Farmer Brothers Drive
    Northlake, TX 76262
    (In the parking lot)

    Accepting: cash, credit card and checks
    This is Awesome! What are your thoughts on this SALES??
  • T
    Tommy
    Just bought into the FARM. The YTD chart looks great and I like the business in the current times. Never fully recovered from the March lows. Good luck to all. Happy Labor Day weekend!
  • M
    Mark Krieger
    The good news is, even though covid has FARM's back up against the wall, they still have plenty of options, as they have $8.2 million in cash and $31.80 million available on their credit line. The pandemic is crumbling as I type...A vaccine will be ready by the end of the year and Florida has completely abated all covid restrictions. The company is deep in assets too...Their brand new state of the art headquarters/plant in Northlake Texas, consists of 535,000 sf of office/distribution and processing space. They also own 37 of their 97 branch distribution locations. In addition, they own their 142,000 sf equipment repair center in Oklahoma City. In addition the company operates three other manufacturing plants in Houston (330,000 sf) portland (114k sf) and Hillsboro Oregon (20,400 sf). FARM also operates distribution facilities at Moonchie, NJ and Northlake Illinois. their total debt is now at $66.8 million