Latest news with #AndrewGordon
Yahoo
a day ago
- Business
- Yahoo
Coffee Holding reports Q2 EPS 11c vs. ‘slight loss' last year
Reports Q2 revenue $23.3M vs. $19M last year. 'We are pleased to report another quarter of strong results to our shareholders' said Andrew Gordon, CEO. 'We grew sales by 22% while maintaining last quarter's 19% gross margin on our revenues, in spite of our losing money on our largest wholesale supermarket customer during the quarter, due to a prior contractual obligation at lower green coffee market pricing. In addition, our revenues growth was achieved with lower selling, general and administrative expenses, indicating that future revenues growth may be achieved more efficiently to improve our bottom line results. Although the quarter proved challenging, I believe we navigated the situation well to produce a positive outcome for our shareholders. Early February saw Arabica prices trade up 12 consecutive days to lifetime highs, up over $1.00/lb. or 25% in a little over three weeks. This rapid, unprecedented move in green coffee prices forced us to initiate another round of price increases for our private label and branded coffee products. Unfortunately, price increases to these customers typically have a delayed effect and thus our gross margins and profitability on these accounts were negatively affected for several weeks during the quarter. However, all increases are now in effect and our results moving forward should reflect this fact. Following February's dramatic market move, the announcement of potential tariffs on imports of coffee spooked the market in early April; sending coffee prices sharply lower, as macro and future demand concerns weighed on market sentiment. We were opportunistic during the selloff, extending inventory positions ahead of the potentially negative effects of tariffs; providing us with additional inventory coverage at lower 'tariff free' market price levels. Because of this, we believe these tariffs, along with the rebound in the green coffee market, will give us a slight tailwind to start the third quarter, as many of our competitors have been forced to increase prices to mo'st customers, thus giving us a competitive advantage for the immediate future. This is extremely important as our sales of our Cafe Caribe and Cafe Supremo continue to remain strong in the highly competitive Latin espresso coffee space. The results from our recent acquisition, Empire Coffee Company, were also encouraging as we cut our loss from the first quarter in half and increased our sales by quarter's end to the level which Empire was at prior to their descent on tough times. We believe that this business, Second Empire, will be accretive to earnings by the end of our next quarter, confirming the anticipated turnaround in operations in a much shorter time frame than we had hoped for when we originally assessed the acquisition opportunity. Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See the top stocks recommended by analysts >> Disclaimer & DisclosureReport an Issue
Yahoo
3 days ago
- Business
- Yahoo
Coffee Holding Co., Inc. Reports Second Quarter Results and New Dividend.
STATEN ISLAND, New York, June 13, 2025 (GLOBE NEWSWIRE) -- Coffee Holding Co., Inc. (Nasdaq: JVA) (the 'Company,' 'our' or 'we') announced its operating results for the fiscal quarter ended April 30, 2025. Earnings increased to $.11 cents per share this fiscal quarter compared to a slight loss in second quarter of 2024. Revenues increased 22% compared to second quarter of 2024. 'We are pleased to report another quarter of strong results to our shareholders' said Andrew Gordon, President and CEO of Coffee Holding Company Inc. 'We grew sales by 22% while maintaining last quarter's 19% gross margin on our revenues, in spite of our losing money on our largest wholesale supermarket customer during the quarter, due to a prior contractual obligation at lower green coffee market pricing. In addition, our revenues growth was achieved with lower selling, general and administrative expenses, indicating that future revenues growth may be achieved more efficiently to improve our bottom line results. Although the quarter proved challenging, I believe we navigated the situation well to produce a positive outcome for our shareholders. Early February saw Arabica prices trade up 12 consecutive days to lifetime highs, up over $1.00/lb. or 25% in a little over three weeks. This rapid, unprecedented move in green coffee prices forced us to initiate another round of price increases for our private label and branded coffee products. Unfortunately, price increases to these customers typically have a delayed effect and thus our gross margins and profitability on these accounts were negatively affected for several weeks during the quarter. However, all increases are now in effect and our results moving forward should reflect this fact. Following February's dramatic market move, the announcement of potential tariffs on imports of coffee spooked the market in early April; sending coffee prices sharply lower, as macro and future demand concerns weighed on market sentiment. We were opportunistic during the selloff, extending inventory positions ahead of the potentially negative effects of tariffs; providing us with additional inventory coverage at lower 'tariff free' market price levels. Because of this, we believe these tariffs, along with the rebound in the green coffee market, will give us a slight tailwind to start the third quarter, as many of our competitors have been forced to increase prices to most customers, thus giving us a competitive advantage for the immediate future. This is extremely important as our sales of our Café Caribe and Café Supremo continue to remain strong in the highly competitive Latin espresso coffee space. The results from our recent acquisition, Empire Coffee Company, were also encouraging as we cut our loss from the first quarter in half and increased our sales by quarter's end to the level which Empire was at prior to their descent on tough times. We believe that this business, Second Empire, will be accretive to earnings by the end of our next quarter, confirming the anticipated turnaround in operations in a much shorter time frame than we had hoped for when we originally assessed the acquisition opportunity. Lastly, we are happy to announce that we will be resuming our annual dividend of 33% of net earnings for the first time in many years, as we believe our year end results will reflect both an improved increase in free cash flow and working capital' ended Andrew Gordon. About Coffee Holding Founded in 1971, Coffee Holding Co., Inc. (NASDAQ: JVA) is a leading integrated wholesale coffee roaster and dealer in the United States and one of the few coffee companies that offers a broad array of coffee products across the entire spectrum of consumer tastes, preferences and price points. Coffee Holding's product offerings consist of eight proprietary brands, each targeting a different segment of the consumer coffee market as well as roasting and blending coffees for major wholesalers and retailers throughout the United States who want to have products under their own names to compete with national brands. In addition to selling roasted coffee, Coffee Holding also imports green coffee beans from around the world, which it resells to smaller regional roasters and coffee shops around the United States and Canada. Forward looking statements Any statements that are not historical facts contained in this release are 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995, including the Company's outlook on the revenue growth. Forward-looking statements include statements with respect to our beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties and other factors, which may be beyond our control, and which may cause our actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. We have based these forward-looking statements upon information available to management as of the date of this release and management's expectations and projections about certain future events. It is possible that the assumptions made by management for purposes of such statements may not materialize. Such statements may involve risks and uncertainties, including but not limited to those relating to product demand, pricing, market acceptance, hedging activities, the effect of economic conditions (including tariffs), intellectual property rights, the outcome of competitive products, risks in product development, the results of financing efforts, the ability to complete transactions and other risks and uncertainties described in the 'Risk Factors' section of documents filed by the Company from time to time with the Securities and Exchange Commission. The Company undertakes no obligation to update or revise any forward-looking statement for events or circumstances after the date on which such statement is made. Company Contact Coffee Holding Co., GordonPresident & CEO(718) 832-0800Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
21-03-2025
- Business
- Associated Press
Coffee Holding Co., Inc. Reports First Quarter Profits.
STATEN ISLAND, New York, March 21, 2025 (GLOBE NEWSWIRE) -- Coffee Holding Co., Inc. (Nasdaq: JVA) (the 'Company' or 'we') announced its operating results for the fiscal quarter ended January 31, 2025. Earnings increased to $.20 per share this fiscal quarter compared to $.06 per share during the same period last year. Our revenues also increased this quarter, growing sales by 9% compared to the same period last year. 'The bull market in coffee continues to drive both revenues and profits, as we were able to build upon the successes achieved during Fiscal 2024,' said Andrew Gordon, President and CEO of the Company. 'Our favorable inventory position combined with our derivative strategy allowed us to remain competitive to all our customers during the quarter, as price increases to our wholesale customers combined with higher green coffee prices provided us with increased profitability to our overall customer base. Sales of our flagship brand Café Caribe also grew 9% compared to first quarter of 2024, as we continue to take market share away from our competitors, as we believe customers find our brand to be more affordable in this high coffee priced environment. It appears that the record high prices in the coffee markets continue to hurt many of our competitors, as there have been several high-profile bankruptcies announced over the past months. In addition, many of our other smaller competitors are struggling with both the high price of coffee and the volatility in the market, which prevents them from being aggressive in bidding on new business. We believe that our hedging strategies, long term loyal customers base, combined with our strong balance sheet and ample credit facility, put us in an excellent position to capture new business that is becoming available due to our competitors' misfortunes. In addition, we recently filed a shelf registration statement with the SEC which, once declared effective by the SEC, will enable us to raise additional capital, if needed. Although we have ample room on our credit facility to tackle new opportunities which might arise, we believe the registration statement will give us additional flexibility in this current dynamic coffee market environment, as we could use our stock as currency rather than take on bank debt to finance new business opportunities. However, at the moment, we have no immediate plans or needs that would prompt us to utilize the registration statement. Although our recent acquisition of assets from Empire Coffee Company, Inc. negatively impacted our earnings by $.05 per share during this quarter, this was not an unexpected event. We have experienced improved revenue growth on a monthly basis since our transaction closed in November 2024, and we expect this trend will continue as we bring back Empire Coffee Company's lost customer base and grow revenues back to the levels we envisioned prior to the transaction's close. More importantly, the acquisition of Empire Coffee Company's first-class manufacturing facility will allow us to begin soliciting and servicing additional business opportunities which have now become available due to the previously mentioned bankruptcies within the local industry. We believe we are well-positioned to continue to grow the Company's revenues and profits as we evaluate these new opportunities as they arise' ended Andrew Gordon. About Coffee Holding Founded in 1971, Coffee Holding Co., Inc. (NASDAQ: JVA) is a leading integrated wholesale coffee roaster and dealer in the United States and one of the few coffee companies that offers a broad array of coffee products across the entire spectrum of consumer tastes, preferences and price points. Coffee Holding's product offerings consist of eight proprietary brands, each targeting a different segment of the consumer coffee market as well as roasting and blending coffees for major wholesalers and retailers throughout the United States who want to have products under their own names to compete with national brands. In addition to selling roasted coffee, Coffee Holding also imports green coffee beans from around the world, which it resells to smaller regional roasters and coffee shops around the United States and Canada. Forward looking statements Any statements that are not historical facts contained in this release are 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995, including the Company's outlook on the revenue growth. Forward-looking statements include statements with respect to our beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties and other factors, which may be beyond our control, and which may cause our actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. All statements other than statements of historical fact are statements that could be forward-looking statements. We have based these forward-looking statements upon information available to management as of the date of this release and management's expectations and projections about certain future events. It is possible that the assumptions made by management for purposes of such statements may not materialize. Such statements may involve risks and uncertainties, including but not limited to those relating to product demand, pricing, market acceptance, hedging activities, the effect of economic conditions, intellectual property rights, the outcome of competitive products, risks in product development, the results of financing efforts, the ability to complete transactions and other risks and uncertainties described in the 'Risk Factors' section of documents filed by the Company from time to time with the Securities and Exchange Commission. The Company undertakes no obligation to update or revise any forward-looking statement for events or circumstances after the date on which such statement is made. Company Contact Coffee Holding Co., Inc. Andrew Gordon President & CEO (718) 832-0800
Yahoo
16-03-2025
- Business
- Yahoo
2025 tax season: Experts share top tips to maximize your return
Just one month remains in the 2025 tax filing season before the April 15 deadline. As of March 7, the Internal Revenue Service (IRS) has received fewer returns than in the same period in 2024, but the average refund is 5.7% higher, according to IRS data. Despite larger checks going out, tax season can be especially stressful. One survey from Intuit Credit Karma and Qualtrics found that nearly a third of workers want to cry just thinking about filing their taxes. To mitigate some of these worries (and tears), Yahoo Finance asked professional advisers about their top tips and reminders for the 2025 tax season. As of March 1, the IRS processed 98.8% of the filings it received, refunding $124.8 billion to taxpayers. 'We're seeing in our practice that more clients are actually getting refunds this year,' Gordon Tax Partner Andrew Gordon told Yahoo Finance. Some Americans may be expecting larger checks this year due to recent life changes, Gordon said. 'One of the most significant credits or deductions is the child tax credit,' Gordon said. 'And so if you had a kid during the year, you can get an additional $2,000 of credit for your taxes, and up to $1,700 of this is refundable or will be paid directly back to you.' The tax code itself may be another reason for greater refunds. "We saw that the standard deduction, which many people take instead of itemizing, in fact, increased this year to $14,600," Gordon said. "And at the same time, the tax brackets themselves, the amount in each bracket increased with inflation. So if your income stayed exactly the same, you'll still get a larger refund because there's larger tax brackets." Read more: Where's my refund? How to check your federal tax refund status. Still, there are reasons why you may not want a fat check from the IRS. 'If you're getting a large refund, it's not necessarily a good thing,' Gordon said. 'I hear from people all the time, 'Hey, I got a large refund,' but the reality is that you've given the government an interest-free loan." TurboTax expert Lisa Greene-Lewis explained that if aren't happy with your tax return this year, you can adjust your withholding. It may mean a smaller refund next year but more cash in your pocket every month. According to a 2024 Bankrate survey, 36% of US adults earn extra income through a side hustle. And with the growth of unreported earnings on peer-to-peer payment platforms like Venmo and PayPal (PYPL), the IRS is looking for its cut. "Many people, especially during COVID, created side hustles, created these businesses," KDA CEO Karla Dennis told Yahoo Finance. "And [the IRS knows] that there's a lot of unreported income going on. So IRS is looking to crack down, get all the income reported, and [make] sure they collect the appropriate amount of tax.' Read more: Free tax filing: How to file your 2024 return for free This means filers who earned over $5,000 from payments on online platforms in 2024 will receive a 1099-K and be taxed on that income. The IRS's reporting threshold decreases to $2,500 for the 2025 calendar year and $600 in 2026. The new digital payment rules are noteworthy for budding creators and freelancers. However, there are some key ways freelancers can still maximize their tax returns. "One of the things that [independent workers] should do before they file is realize all those personal expenses that they're using for business transition over, and [they should] start actually taking it as a business deduction," Dennis said. "Things like their car, their cell phone — things they're paying out of pocket — their meals, their travel." "In addition to that, [freelancers] want to have a separate bank account for their business," Dennis added. "Don't commingle funds because when you commingle funds, [the] IRS can classify those expenses as personal, and you could lose those deductions.' There are a few main causes of income taxes in retirement, but one of the biggest is required minimum distributions (RMDs). "[It's] a little confusing, but the thing about RMDs is that they're taxable income," Decoding Retirement host Bob Powell said. "And when you take it, it could bump you into a higher tax rate.' Powell noted there are some steps you can take to avoid the adverse tax effects of RMDs. "One is to start thinking about doing full or partial Roth conversions so that you reduce the RMDs when it comes time for you to take these distributions," he said. "The other is to start drawing down before you reach RMD age, and that could reduce the RMDs when you get to RMD age." "And then the last thing you can do is, if you're 70 1/2 and older, you can take something called qualified charitable distribution or QCDs, which are not taxable," Powell added. "And those are one way you can at least avoid the adverse effects of RMDs." There are also lesser-known credits some retirees have access to. "Retirement Savers credit, that's a little-known credit," Greene-Lewis told Yahoo Finance. "You get it just for investing in your retirement. And that's up to $1,000 if you're single and $2,000 married filing jointly." Retirees can also maximize tax advantages through their healthcare premiums. According to Powell, most retirees enrolled in Medicare Part B pay a monthly charge of about $185. "But if you have what's called a modified adjusted gross income that is above a certain threshold, you may pay anywhere from $259 per month to upward of $628 ... per month, depending on your modified adjusted gross income, or 'MAGI,' as they like to say," he said. Powell advised retirees who fit into this category to be mindful of their modified adjusted gross income as well as their taxable income rate when doing Roth conversions, drawing down IRAs, taking a bonus or severance package, or selling assets. "If you push yourself into a higher MAGI, you're going to pay the surcharge," he said. Sign in to access your portfolio
