Whole Earth Brands, Inc. (NASDAQ:FREE) Q4 2022 Earnings Call Transcript

Michael Franklin: We are seeing — it’s — I would say, last year, it was — cost inflation was pervasive. It didn’t matter whether it was raw materials, whether it’s packaging, wages, logistics, so on and so forth. This year, as we finish 2022 and are living in 2023 now, there are places where we’re seeing cost decreases, transportation, logistics to a certain extent. There’s places where we’re seeing — we continue to see some inflation, whether that’s raw materials like dextrose. This year, we are seeing inflation in our Wholesome business, whether it’s sugar prices, whether it’s honey prices, whether it’s agave prices, all of those are under pressure right now. So it’s a mixed bag in terms of what’s kind of going up and what’s coming down. It’s — the nice thing is it’s not pervasive, and we are seeing opportunities for decreased costs in pockets, but it’s not — it’s select pockets and there is other pockets where we continue to work through cost increases.

Arthur Arnold: Great, alright, thanks a lot guys.

Operator: Thank you. At this time we have reached the end of our question-and-answer session. I’ll now turn the floor back to management for closing comments.

Irwin Simon: Operator, nothing to add from our end.

Michael Franklin: Yes. No operator we appreciate it. Thank you to everyone for joining the call.

Operator: This will conclude today’s conference. Thank you for your participation. You may now disconnect your lines at this time.