Farmer Bros Co (NASDAQ:FARM) Q1 2024 Earnings Conference Call November 9, 2023 5:00 PM ET
Company Participants
John Moore - Interim CEO & Head of Coffee
Brad Bollner - Interim CFO
Conference Call Participants
Operator
Good afternoon, and welcome to the Farmer Brothers fisca first-quarter 2024 earnings conference call. [Operator Instructions]. As a reminder, this call is being recorded.
Earlier today, the company issued its quarterly shareholder letter available on the Investor Relations section of Farmer Brothers' website at farmerbros.com. The shareholder letter is also included as an exhibit on the company's Form 10-Q and is available on its website and the Securities and Exchange Commission's website at SEC.gov. A replay of this audio-only webcast will also be available on the company's website approximately two hours after the conclusion of this call.
Before we begin the call, please note all of the financial information presented is unaudited and 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. This forward-looking statements represent the company's views 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 which could cause actual results and other events to differ materially from those forward-looking statements is available in the company's shareholder letter and public filings.
On today's call, management will also reference certain non-GAAP financial measures included, including adjusted EBITDA and adjusted EBITDA margin in assessing the company's operating performance. Reconciliation of those non-GAAP financial measures to their most directly comparable GAAP measures is also included in the company's shareholder letter.
And I will now turn the call over to Farmer Brothers' Interim Chief Executive Officer, John Moore. Mr. Moore, please go ahead.
John Moore
Good afternoon, everyone, and thank you for joining us today. Immediately after I joined Farmer Brothers in June, we executed on the sale of our direct ship business and refocused our model on what we have always done best, direct store delivery. Since then, we've been strengthening our foundation by appropriately sizing the business, instilling a more efficient operational organization, reducing our cost structure and formalizing an attractive but achievable strategic, long-term, sustainable growth plan. Simply put, Farmer Brothers is getting back to basics and executing on the fundamentals which have made us industry leader for so many years.