Farmer Bros Co drops as lower coffee sales weigh on Q3 results

Farmer Bros Co

07/05/2021 16:21

** Shares of coffee roaster  FARM.O  down 10.4% to $9.32 
    ** Co posts Q3 adj loss of 78 cents​​/shr, much wider than
expectations for a loss of 36 cents/shr; rev fell 27.9% to
$93.15 mln y-o-y also missing Refinitiv est of $107.37 mln
    ** FARM's results impacted by lower sales of coffee,
beverage and allied products sold through its DSD
(direct-store-delivery) network due to the COVID-19 pandemic
 urn:newsml:reuters.com:*:nGNX3QdsLC
    ** Co misses EPS est for fourth straight qtr and rev
expectation for fifth consecutive qtr - Refinitiv data
    **  Shares up 122.7% for the year

 (Reporting by Devik Jain in Bengaluru)
 ((Devik.Jain@thomsonreuters.com; within U.S. +1 646 223 8780;
outside U.S. +91 80 6182 2062; ;))