Coffee Holding Co., Inc. Reports Strong Fiscal Performance in 2024

Coffee Holding Co., Inc. (NASDAQ: JVA) recently released its yearly financial results, showcasing one of its most impressive performances as a publicly-traded company. The company announced a noteworthy increase in net sales, gross margins, and net income for the fiscal year ending October 31, 2024.

During fiscal 2024, the company witnessed a 15% surge in net sales compared to the previous fiscal year, along with a noteworthy improvement in gross margins from 16% to 20%. Net income for fiscal 2024 stood at $2,245,132, translating to $0.39 per share—a stark contrast to the net loss of ($835,576), or ($0.15) per share, reported in fiscal 2023.

Capitalizing on the consistent coffee prices above $2.00 per pound throughout the year, Coffee Holding Co., Inc. leveraged its horizontally-integrated product mix strategy. It managed to boost profitability for wholesale green coffee customers while simultaneously containing margin pressures for private label customers, a significant contributor to the revenue growth.

Andrew Gordon, President and CEO of Coffee Holding Co., acknowledged the challenges posed by rising commodity prices in an inflationary environment, notably impacting the second half of the fiscal year. Although delayed price adjustments negatively affected revenues and earnings until later in fiscal Q4 of 2024, the company anticipates a favorable outlook for fiscal 2025 with the implemented price increases and the heightened Arabica futures market.

Despite navigating through market challenges, including elevated coffee prices and increased operational costs, the company successfully reduced its debt burden and renegotiated its lease, resulting in substantial annual cost savings.

With a focus on optimizing operational efficiency and sustaining revenue growth, Coffee Holding Co., Inc. remains committed to enhancing shareholder value. The company’s diversified product portfolio, spanning various consumer preferences and price points, positions it as a prominent player in the wholesale coffee market.

Founded in 1971, Coffee Holding Co., Inc. specializes in wholesale coffee roasting and distribution, catering to a broad spectrum of consumer tastes. The company not only offers proprietary coffee brands but also roasts and blends coffees for major wholesalers and retailers in the United States.

Forward-looking statements included in the company’s report underpin its commitment to continued growth and strategic execution. The company remains vigilant of market dynamics and uncertainties, mitigating risks while optimizing performance to deliver value to its shareholders.

For further details on Coffee Holding Co., Inc., interested parties can reach out to President & CEO Andrew Gordon at (718) 832-0800.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Coffee’s 8K filing here.

About Coffee

Coffee Holding Co, Inc engages in manufacturing, roasting, packaging, marketing, and distributing roasted and blended coffees in the United States, Australia, Canada, England, and China. It offers wholesale green coffee products, including unroasted raw beans that are sold to large, medium, and small roasters, as well as coffee shop operators; and roasts, blends, packages, and sells coffee under private labels in cans, brick packages, and instants of various sizes.