Farmer Bros. Co. (NASDAQ:FARM) Q2 2023 Earnings Call Transcript

So I’m sensing right now given the new programs we’ve been putting in place through our HR team and through our DSD frontline team that we’ve been able to hold our own and not deteriorate on the negative side and lose more than we can add. So that’s been very positive.

Scott Drake: Yes. And Gerry, just quickly on external view just because I happen to have seen it last week. Unfortunately, I don’t recall where, but there was an article I saw that noted the restaurant industry in the United States is still €“ they estimate about 1 million workers short from where they would like to be. So we still see that with our customers, and we’re hopeful for improvement there as well.

Gerry Sweeney: Got it. I appreciate it. Thanks for taking my questions.

Deverl Maserang: Well, thank you, Gerry.

Scott Drake: Thank you.

Operator: This concludes our question-and-answer session. I would like to turn the conference back over to Deverl for any closing remarks.

Deverl Maserang: Thank you. Overall, while we’ve had the foundation in place, market dynamics have been difficult. We are very focused on sharpening execution as we manage through this period. And we’re encouraged by our progress this quarter and are optimistic that the expected favorable pricing environment that Scott spoke of in the prepared remarks and in the coming quarters will support meaningful improvement in our results. The strategy is in place, and we are determined to show the benefits of the hard work the team has completed as we move through fiscal 2023 and into the next fiscal year. Thank you for attending today.

Operator: The conference has now concluded. Thank you for attending today’s presentation. You may all now disconnect.