Whole Earth Brands: Reports First Quarter 2023 Results

Chicago / IL. (web) Whole Earth Brands, a global food company enabling healthier lifestyles by providing access to premium plant-based sweeteners, flavor enhancers and other foods through a diverse portfolio of trusted brands and delicious products, announced its financial results for its first quarter ended March 31, 2023. The Company also reaffirmed fiscal year 2023 guidance. First Quarter 2023 highlights:

  • Reported consolidated revenue growth of 1.4 percent. Constant currency consolidated revenue grew 2.8 percent
  • Branded CPG constant currency revenue approximately flat compared to 2022 as strong pricing growth was offset by volume declines
  • Flavors + Ingredients constant currency revenue growth of 14.5 percent compared to 2022, driven by a combination of strong volume growth and increased pricing
  • Operating income of USD 3.0 million
  • Adjusted Ebitda of USD 16.6 million and free cash flow of USD 2.5 million (defined as cash provided by operating activities less capital expenditures)
  • Michael Franklin named Chief Executive Officer

For additional information please read the Company’s PDF file below (148 KB):