Farmer Bros. Co. (NASDAQ:FARM) Q2 2024 Earnings Conference Call February 8, 2024 5:00 PM ET
Company Participants
John Moore - President, CEO & Director
Brad Bollner - Interim Chief Financial Officer
Conference Call Participants
Gerry Sweeny - Roth Capital Partners
Operator
Good afternoon, and welcome to the Farmer Brothers Fiscal Second 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 farmerbrothers.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 Exchange Commission's website at SEC.gov. A replay of this audio-only webcast will be available on the company's website approximately two hours after the conclusion of this call.
Before we begin the call, please note all 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. These 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 on the company's shareholder letter and public filings.
On today's call, management will also reference 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 the most directly comparable GAAP measures is also included in the company's shareholder letter.
I will now turn the call over to Farmer Brothers' President and Chief Executive Officer, John Moore. Mr. Moore, please go ahead.
John Moore
Good afternoon, everyone, and thank you for joining us. Before we get started, I would like to thank the Board of Directors and the entire Farmer Brothers organization for the appointment to President and Chief Executive Officer. It is an honor and privilege to lead such a storied coffee company.
Today, we are just over six months into the transition from the sale of our direct ship business to a sole focus on direct store delivery. We are beginning to see positive momentum on both an operational and financial front. During the first half of fiscal 2024, we made strides in rightsizing our business, becoming more operationally efficient and adjusting our cost structure to support a return to sustainable profitability.