$FREE reports: Whole Earth Brands Shows Positive Revenue Growth in Q4 2022 with $47.7M Operating Loss
Mar 13th 2023, 11:55 am
Analyst Summary: Whole Earth Brands Inc., a global food company specializing in plant-based sweeteners and other foods, announced its financial results for the fourth quarter and full year of 2022, with reported Q4 revenue growth of 4.7% and constant currency revenue growth of 7%, showing good performance across both segments. The Branded CPG segment product revenues increased by 3.6% to $109.4 million for Q4 2022, while the Flavors & Ingredients segment product revenues increased by 8.6% to $29.5 million for the same quarter. However, the company reported an operating loss of $47.7 million for Q4 2022. Whole Earth Brands' interim CEO, Michael Franklin, stated that his near-term priorities were focused on improving operations to deliver sustained profitable growth through the implementation of new capabilities and efficiency measures. The company also provided its outlook for 2023, but noted the current environment's volatility due to the ongoing pandemic, geopolitical issues, inflation, and foreign currency exchange rate fluctuations.