Whole Earth Brands, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 09, 2023 at 07:44 am EDT
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Whole Earth Brands, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported net loss was USD 5.52 million compared to net income of USD 1.33 million a year ago. Basic loss per share from continuing operations was USD 0.13 compared to basic earnings per share from continuing operations of USD 0.03 a year ago. Diluted loss per share from continuing operations was USD 0.13 compared to diluted earnings per share from continuing operations of USD 0.03 a year ago.
For the six months, net loss was USD 25.31 million compared to net income of USD 4.05 million a year ago. Basic loss per share from continuing operations was USD 0.6 compared to basic earnings per share from continuing operations of USD 0.1 a year ago. Diluted loss per share from continuing operations was USD 0.6 compared to diluted earnings per share from continuing operations of USD 0.1 a year ago.
Whole Earth Brands, Inc. is a global food company. The Company is enabling healthier lifestyles and providing access to quality plant-based sweeteners, flavor enhancers and other foods through its diverse portfolio of trusted brands and delicious products. The Company operates through two segments: Branded CPG and Flavors & Ingredients. The Branded CPG segment is comprised of its Merisant division of operating companies, Wholesome and Swerve. The Branded CPG products are sold under both its flagship brands, as well as local and private label brands. Its global flagship brands include Whole Earth, Pure Via, Wholesome, Swerve, Canderel, Equal and existing branded adjacencies. The Flavors & Ingredients segment products provide a variety of solutions for its customers, including flavor enhancement, flavor / aftertaste masking, moisturizing, product mouthfeel modification and skin soothing characteristics. Its Flavors & Ingredients segment operates its licorice-derived products business.