Farmer Bros. Co, a national coffee roaster, wholesaler and distributor, announced the opening of a new 156,600 square foot distribution center in Rialto, Calif.
Farmer Bros. said the opening Rialto facility was made possibly by the company's successful execution of a supply chain optimization initiative. As previously announced, the optimization plan also included closing the Houston manufacturing facility and capacity enhancements made to the its state-of-the-art Dallas-Fort Worth facility.
With 40% of Farmer Bros.' customers located on the West Coast, the company expects the new distribution center to enable the swift fulfillment of orders. The facility is also designed to mitigate future capital expenditure requirements for customer equipment with its new coffee brewing equipment refurbishing center.
These facility transitions are expected to drive improved performance as the economy recovers from the impacts of the Covid-19 pandemic.
Separately, shares of Farmer Bros (Nasdag:FARM) decreased in aftermarket trading following the company's announcement of its Q2 results on Feb. 5. Earnings a share dove 320.93% year over year to ($0.95), which missed the estimate of ($0.13). The company's reported revenue of $104.6 million decreased 31.43% year over year, below the $108.4 million estimate.
