Whole Earth Brands Touches New Low; Results Miss Street View

Shares of food company Whole Earth Brands, Inc. (FREE) are falling more than 13% in the morning trade on Monday after the company’s fourth-results missed analysts’ view.

The company’s net loss narrowed to $393000 or $0.01 per share in the fourth quarter, compared with net loss of $5.1 million or $0.13 per share in the same quarter quarter a year ago. However, it missed the average estimate of analysts polled by Thomson-Reuters for a loss of 20 cents a share.

Revenue for the quarter increased to $132.71 million from $75.69 million in the same quarter a year ago, however, missed the consensus estimate of $138.56 million.

For the full year, Whole Earth Brands expects product revenue to be in the range of $530 million to $545 million. The consensus estimate stands at $45.12 million.

Whole Earth Brands stock touched a new low of $7.07 this morning.

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