×
News Home

Whole Earth Brands Inc Up 6.06% To $6.30 After Earnings Miss

Tuesday, August 09, 2022 12:53 PM | InvestorsObserver Analysts
Whole Earth Brands Inc Up 6.06% To $6.30 After Earnings Miss

Whole Earth Brands Inc (FREE) missed earnings estimates for Q2 2022 this morning.

Whole Earth Brands Inc's earnings came in at an EPS of $0.03 per share, 70% lower than estimates for an EPS of $0.1 per share. The firm's earnings are down 67% since reporting $0.09 per share in the same period a year ago. Remember, earnings reported were on an adjusted basis, so they may not be comparable to prior reports and/or analyst estimates.

Consensus estimates for Whole Earth Brands Inc revenue averaged out to $130.9 million, with the business managing to beat those expectations with reported second-quarter revenue of $133.5 million. The $2.6 million (2%) positive revenue surprise led to 6% growth year-over-year as the firm reported revenue of $126.5 million in its year-ago quarter. The lower earnings growth compared to revenue points to Whole Earth Brands Inc not being able to improve its profit margin.

The stock is up 6.06% to $6.30 after the report.

Despite revenues increasing, earnings decreased, signaling a decline in profit margins.

Wall Street Analysts had an average rating of Strong Buy on the stock prior to the report.

InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.

Prior to the report, InvestorsObserver gave the stock an overall score of 47. Meanwhile, the average Wall Street analyst rated the stock a Strong Buy.

Whole Earth Brands Inc is engaged in the manufacturing of zero/low sugar and calorie sweeteners as well as reduced-sugar products. The company operates in two segments namely Branded CPG(consumer packaged goods) and Flavors & Ingredients. Some of the company's brands include Whole Earth, Pure Via, Equal, and Candere. Its geographical segments include Europe, Middle East & Africa, Asia-Pacific, North America, and Latin America.

You May Also Like

Get the InvestorsObserver App

InvestorsObserver App
iOS App Android App