Westrock Coffee Co
For the period ended Sep 30, 2024. Filed Nov 7, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 7, 2024
WEST$8.79-2.2%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Statements of Operations
| | | | | | | | | | | | | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| · · Three Months Ended September 30, · · Nine Months Ended September 30, | ||||||||||||
| (Thousands, except per share data) · 2024 · 2023 · 2024 · 2023 | ||||||||||||
| Net sales | | $220,860 | | $219,612 | | $621,749 | | $649,748 | ||||
| Costs of sales | | | 183,775 | | | 184,546 | | | 505,987 | | | 544,707 |
| Gross profit | | | 37,085 | | | 35,066 | | | 115,762 | | | 105,041 |
| | | | | | | | | | | | | |
| Selling, general and administrative expense | | | 46,132 | | | 37,050 | | | 142,182 | | | 105,275 |
| Transaction, restructuring and integration expense | | | 2,538 | | | 3,137 | | | 9,901 | | | 12,682 |
| Impairment charges | | | 1,165 | | | — | | | 1,996 | | | — |
| (Gain) loss on disposal of property, plant and equipment | | | (8) | | | 248 | | | 965 | | | 1,145 |
| Total operating expenses | | | 49,827 | | | 40,435 | | | 155,044 | | | 119,102 |
| Loss from operations | | | (12,742) | | | (5,369) | | | (39,282) | | | (14,061) |
| | | | | | | | | | | | | |
| Other (income) expense | | | | | | | | | | | | |
| Interest expense | | | 6,889 | | | 7,803 | | | 21,921 | | | 21,216 |
| Change in fair value of warrant liabilities | | | (5,481) | | | (25,105) | | | (7,134) | | | (18,833) |
| Other, net | | | (10) | | | 510 | | | 223 | | | 1,323 |
| (Loss) income before income taxes and equity in earnings from unconsolidated entities | | | (14,140) | | | 11,423 | | | (54,292) | | | (17,767) |
| Income tax expense (benefit) | | | 84 | | | (5,212) | | | 1,254 | | | (3,331) |
| Equity in (earnings) loss from unconsolidated entities | | | 35 | | | 14 | | | 145 | | | 80 |
| Net (loss) income | | $(14,259) | | $16,621 | | $(55,691) | | $(14,516) | ||||
| Net loss attributable to non-controlling interest | | | — | | | — | | | — | | | 15 |
| Net (loss) income attributable to shareholders | | | (14,259) | | | 16,621 | | | (55,691) | | | (14,531) |
| Participating securities' share in earnings | | | — | | | (3,912) | | | — | | | — |
| Accretion of Series A Convertible Preferred Shares | | | 88 | | | 93 | | | 262 | | | (249) |
| Net (loss) income attributable to common shareholders | | $(14,171) | | $12,802 | | $(55,429) | | $(14,780) | ||||
| | | | | | | | | | | | | |
| (Loss) earnings per common share: | | | | | | | | | | | | |
| Basic | | $(0.16) | | $0.15 | | $(0.63) | | $(0.19) | ||||
| Diluted | | $(0.16) | | $0.15 | | $(0.63) | | $(0.19) | ||||
| | | | | | | | | | | | | |
| Weighted-average number of shares outstanding: | | | | | | | | | | | | |
| Basic | | | 88,540 | | | 83,437 | | | 88,320 | | | 78,203 |
| Diluted | | | 88,540 | | | 107,080 | | | 88,320 | | | 78,203 |
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