Whole Earth Brands Lowers FY2023 Sales Guidance from $550M-$565M to $540M - $550M Vs. $552.78M Estimate
Portfolio Pulse from Benzinga Newsdesk
Whole Earth Brands has revised its FY2023 sales guidance downwards from $550M-$565M to $540M-$550M, which is below the estimated $552.78M. However, the company has increased its adjusted EBITDA from $76M-$78M to $77M-$79M and reduced its capital expenditures from $9M to $8M.
November 09, 2023 | 12:34 pm
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Whole Earth Brands' lowered sales guidance for FY2023 may negatively impact its stock price in the short term. However, the increase in adjusted EBITDA and decrease in capital expenditures could offset some of this impact.
The company's lowered sales guidance for FY2023 is below the estimated $552.78M, which could lead to a negative market reaction and a potential decrease in the stock price. However, the increase in adjusted EBITDA and decrease in capital expenditures could be seen as positive factors, potentially offsetting some of the negative impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100