Farmer Bros. reports Q3 EPS 13c, one-estimate (21c)

Reports Q3 revenue $89.5M, consensus $88.5M. “As we continue to transition our company to focus solely on what we have always done best – direct store delivery (DSD), we are pleased to see early momentum in several of our operational and financial metrics,” said President and Chief Executive Officer John Moore. “We delivered meaningful improvements in gross margin and adjusted EBITDA during the quarter, with our gross margin rising above 40% for the first time in more than a year. Although we do not expect our progress to be linear, we believe we will continue to see long-term improvement and are well on our way to being free cash flow1 positive by early fiscal 2025.”Reports Q3 revenue $89.5M, consensus $88.5M.