Farmer Bros gains on Q4 revenue jump

Farmer Bros Co

10/09/2021 14:23

** Shares of coffee roaster  FARM.O  up as much as 4.92% at
$8.75 premarket 
    ** Co posts bigger-than-expected Q4 revenue of $102.9
million  urn:newsml:reuters.com:*:nGNX1pLnfY
    ** FARM says increase in net sales was driven by continued
recovery from the COVID-19 pandemic as local governments across
the country eased restrictions and vaccines were distributed and
rolled out successfully
    ** Brokerage Roth Capital Partners says it is optimistic
that sales volumes would improve through fall into winter as
vaccination ramps up 
    ** Says it sees significant value in the direct store
delivery platform as FARM puts measures in place to leverage the
platform fully over the next several years 
    ** Stock was up ~78% YTD, as of last close

 (Reporting by Rithika Krishna in Bengaluru)
 ((Rithika.Krishna@thomsonreuters.com;))