Farmer Bros. Co. (NASDAQ:FARM) Q1 2023 Earnings Conference Call November 3, 2022 5:00 PM ET

Company Participants

Deverl Maserang - President & Chief Executive Officer

Scott Drake - Chief Financial Officer

Conference Call Participants

Gerry Sweeney - ROTH Capital

Operator

Good afternoon, ladies and gentlemen, and welcome to the Farmer Brothers Fiscal First Quarter 2023 Earnings Conference Call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session and instructions will follow at that time. [Operator Instructions] As a reminder, this call is being recorded.

Joining me today are Deverl Maserang, President and Chief Executive Officer; and Scott Drake, Chief Financial Officer. Earlier today, the company issued its earnings press release, which is available on the Investor Relations section of Farmer Brothers' website at www.farmerbros.com. The press release is also included as an exhibit to the company's Form 8-K and is available on the company's website and on the Securities and Exchange Commission's website at www.sec.gov. A replay of this audio-only webcast will be available approximately two hours after the conclusion of this call. The link to the audio replay will also be available on the company's website.

Before we begin the call, please note that all of the financial information presented is unaudited and that various remarks made by management during this call about the company's future expectations, plans and prospects, may constitute forward-looking statements for purposes of the safe harbor provisions under the federal securities laws and regulations. These forward-looking statements, represent the company's views only as of today and should not be relied upon as representing the company's views as of any subsequent date. Results could differ materially from those forward-looking statements.

Additional information on factors that can cause actual results and other events to differ materially from those forward-looking statements is available in the company's press release and public filings. On today's call, management will also use certain non-GAAP financial measures, including adjusted EBITDA and adjusted EBITDA margin, in assessing the company's operating performance. Reconciliation of these non-GAAP financial measures to their most directly comparable GAAP measures is also included in the company's press release.

I will now turn the call over to Deverl. Deverl, please go ahead.

Deverl Maserang

Thanks, operator and hello everyone. Our fiscal first quarter results showed continued good progress on rebuilding sales momentum post pandemic, with revenue up 12% against an uncertain macroeconomic environment. And I'm encouraged by the traction we're getting with new customers and some of our catalytic growth initiatives. I'll update you there in a moment.