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Whole Earth Brands, Inc. (symbol: FREE) is a leading global platform offering a variety of branded products and ingredients that cater to the growing consumer demand for natural alternatives, plant-based, clean-label, and non-sugar products. Based in Chicago, Illinois, the company plays a key role in the food industry by providing high-quality, plant-based sweeteners, flavor enhancers, and other food products through its diverse portfolio of brands.
Whole Earth Brands operates in two primary segments: Branded Consumer Packaged Goods (CPG) and Flavors & Ingredients. The Branded CPG segment is the largest revenue generator, offering a wide range of sweetener formulations under popular brands such as Whole Earth, Pure Via, Wholesome, Swerve, Canderel, and Equal. These products are marketed and distributed through various channels including food retail, mass merchandising, pharmacies, and food service outlets.
In addition to sweeteners, Whole Earth Brands also produces and sells licorice products. These licorice products find applications across a multitude of industries including confectionery, food, beverage, cosmetics, pharmaceuticals, personal care, and tobacco. The company’s commitment to quality and innovation has earned it a significant presence in major markets worldwide, with key revenue streams coming from North America, Europe, Latin America, India, the Middle East, Africa, and other regions.
Recent achievements and current projects highlight Whole Earth Brands’ dedication to fostering healthier lifestyles through better food choices. The company continuously innovates and expands its product lines to meet evolving consumer preferences. With ongoing partnerships and strong financial performance, Whole Earth Brands is well-positioned to remain a significant player in the global market for natural and plant-based foods.
Whole Earth Brands, Inc. (Nasdaq: FREE) has announced new leadership appointments, including Nigel Willerton as President and COO for North America and Rajnish Ohri for the International Region. Bernardo Fiaux, formerly with Kraft Heinz, has been named CFO, replacing Duane Portwood, who will assist during the transition. The company amended its credit agreement, temporarily increasing leverage ratios to offer short-term flexibility. Whole Earth Brands reaffirmed its full-year 2023 guidance, expecting net product revenues of $550-$565 million, representing a growth of 2% to 5%, and adjusted EBITDA of $76-$78 million. The first quarter results will be released on May 10, 2023, as the company strives to enhance productivity and long-term growth.
Whole Earth Brands (Nasdaq: FREE), a global leader in plant-based food products, will release its Q1 2023 financial results on May 10, 2023, before market opening. A conference call is scheduled for 8:30 AM ET on the same day, hosted by the company's management team to discuss these results. The call can be accessed by dialing (888) 886-7786 for domestic callers and (416) 764-8658 for international participants, with a replay available until May 24, 2023. Whole Earth Brands specializes in premium plant-based sweeteners and flavor enhancers, with a vision to expand its portfolio to meet diverse consumer needs.
For more details, visit www.WholeEarthBrands.com.
Whole Earth Brands reported a 4.7% revenue growth for Q4 and a 9.0% increase for the full year 2022, bolstered by the Wholesome acquisition. Adjusted EBITDA stood at $79.2 million for the year. However, the company faced a significant $46.5 million non-cash asset impairment charge, leading to a Q4 operating loss of $46.2 million and a net loss of $60.3 million. Looking ahead, 2023 guidance estimates net product revenues between $550 million and $565 million and Adjusted EBITDA of $76 million to $78 million. The company emphasized its commitment to operational improvements and margin restoration amidst ongoing global challenges.
Whole Earth Brands, Inc. (Nasdaq: FREE) announced it will reveal its financial results for the fourth quarter and full year ending December 31, 2022, before the market opens on March 13, 2023. A conference call will be hosted at 8:30 AM Eastern Time on the same day, featuring key executives including Executive Chairman Irwin Simon and Interim CEO Michael Franklin.
Investors can join the call by dialing (877) 704-4453 or access a replay until March 27, 2023. The live audio webcast will be available on the Company's Investor Relations website.
Whole Earth Brands, Inc. (Nasdaq: FREE) has launched Regenerative Organic Certified sweeteners under its Wholesome brand, available in all Whole Foods Market locations as of January 2023. The certified cane and turbinado sugars aim to promote healthier lifestyles and sustainable farming practices, aligning with consumer demand for environmentally friendly products. The partnership with Whole Foods Market allows for distribution across 516 stores nationally. Wholesome products also feature eco-friendly packaging made from bio-resin. This launch reflects a growing trend among consumers towards sustainability, with 48% believing their purchases can positively impact the environment.
Whole Earth Brands, Inc. (Nasdaq: FREE) announces the resignation of CEO Albert Manzone, effective January 1, 2023, as he pursues other opportunities. Michael Franklin, currently a board member, will assume the role of Interim CEO. The transition is expected to be supported by Manzone until February 28, 2023. The company has reaffirmed its fiscal year 2022 guidance, emphasizing continued growth opportunities in the sweetener market and asserting that it remains well-positioned for 2023 with expectations of positive cash flow and improved capital structure.
Whole Earth Brands, a global food company listed on Nasdaq under the symbol FREE, will host a virtual fireside chat led by CEO Albert Manzone and CFO Duane Portwood on December 1, 2022, at 1:30 PM ET. This event is part of the Canaccord Genuity AgriFood Tech Innovation Virtual Forum. Interested participants can access the live video webcast via the Investor Relations section on the company’s website, with a replay available shortly after the event concludes. Whole Earth Brands focuses on plant-based sweeteners and flavor enhancers, aiming for healthier lifestyles.
Whole Earth Brands reported a 4.9% revenue growth for Q3 2022, with constant currency revenue growth of 8.1%. The performance was bolstered by a 7.2% price increase and a 0.9% volume growth. The company aims to achieve $40 million in pricing and cost savings to mitigate inflation. Adjusted EBITDA for the quarter was $21.5 million, while the net loss was $2.5 million. Full-year revenue guidance has been updated to reflect ongoing sales momentum amid currency impacts.
Whole Earth Brands (Nasdaq: FREE) will release its Q3 financial results on November 9, 2022, before market opens. A conference call will follow at 8:30 AM ET, featuring CEO Albert Manzone and CFO Duane Portwood. Interested parties can join via phone or access the live audio webcast on the investor relations website. A replay will be available until November 23, 2022. Whole Earth Brands focuses on healthier lifestyles through plant-based sweeteners and flavor enhancers, serving over 100 countries globally.
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