Swiss Water Decaffeinated Coffee (SWP) Q3 2025 earnings summary

Executive summary

• Q3 2025 processed volumes rose 7% year-over-year, with revenue up 50% to $62.7 million and net income of $0.2 million, a $1.0 million improvement from Q3 2024.

• Adjusted EBITDA for Q3 was $3.3 million, up 52% year-over-year.

• Improved profitability attributed to effective pricing, cost management, and favorable foreign exchange movements.

• Maintained reliable supply and strengthened customer relationships amid volatile coffee markets and strong demand.

Financial highlights

• Q3 2025 revenue: $62.7 million (+50% YoY); year-to-date: $192.7 million (+56% YoY).

• Q3 2025 gross profit: $6.4 million (flat YoY); year-to-date: $19.0 million (down 1% YoY).

• Q3 2025 net income: $0.2 million (vs. $0.8 million loss in Q3 2024); year-to-date net income: $0.4 million (vs. $0.7 million loss in 2024).

• Q3 2025 Adjusted EBITDA: $3.3 million (+52% YoY); year-to-date: $7.1 million (-24% YoY).

• Earnings per share for Q3: $0.02 (vs. -$0.08 in Q3 2024).

Outlook and guidance

• Q4 performance expected to be broadly consistent with the same period last year.

• Higher coffee prices and an inverted market may soften consumer demand and reduce volumes shipped to roasters in the near term.

• Short-term disruptions and volume issues expected due to increased US tariffs on Brazilian coffee, potentially lasting 3-6 months or longer.

• Focus remains on retaining new customers, maintaining price discipline, and strengthening the balance sheet.