Welcome to our dedicated page for Flowers Foods news (Ticker: FLO), a resource for investors and traders seeking the latest updates and insights on Flowers Foods stock.
Flowers Foods, Inc. (NYSE: FLO), headquartered in Thomasville, Georgia, is a leading producer and marketer of packaged bakery goods in the United States. With 2023 sales totaling $5.1 billion, Flowers Foods operates numerous bakeries across the country that deliver an extensive range of bakery products, including fresh breads, buns, rolls, snack cakes, pastries, and tortillas. The company's products are distributed to retail and foodservice customers nationwide, making them widely accessible through supermarkets, convenience stores, and restaurants.
Flowers Foods boasts an impressive portfolio of top brands, including Nature's Own, Wonder, Dave's Killer Bread, Tastykake, Cobblestone Bread, Canyon Bakehouse, and Mrs. Freshley's. Additionally, the company markets popular regional brands such as Merita, Home Pride, Butternut, and Evangeline Maid. Flowers Foods' products are well-loved for their quality and taste, catering to a diverse consumer base.
In 2023, Flowers Foods recorded outstanding financial performance, driven by the effectiveness of its brand portfolio strategy and strong operational execution. The company's flagship brand, Dave's Killer Bread, achieved a milestone with record retail sales of $1 billion. Flowers Foods continually seeks to innovate, introducing new products to expand its market presence. Recent examples include the launch of Nature's Own Keto loaf and Dave's Killer Bread Snack Bars, which have been well-received by consumers.
Flowers Foods is committed to enhancing productivity and efficiency through various initiatives, including the deployment of an upgraded enterprise resource planning (ERP) system and other digital advancements. These efforts aim to streamline operations, reduce costs, and ultimately boost margins. The company also focuses on corporate responsibility and sustainability, working to achieve its environmental, social, and governance (ESG) goals.
Key financial highlights for fiscal 2023 include cash flow from operating activities of $349.4 million, capital expenditures of $129.1 million, and dividends paid to shareholders totaling $195.2 million. Flowers Foods' strong financial position allows it to invest in growth opportunities while delivering value to its shareholders.
Flowers Foods remains dedicated to innovation, marketing, and expanding its distribution network. The company has recently collaborated with Victory Brewing Company to create the Tastykake Koffee Kake Ale, a unique product that combines the flavors of Tastykake's Koffee Kake Cupcake with a sweet ale, available in select retailers. This collaboration exemplifies Flowers Foods' commitment to creativity and expanding its brand reach.
Looking ahead, Flowers Foods maintains a positive outlook for 2024, anticipating benefits from moderating commodity costs, positive pricing actions, and ongoing savings initiatives. The company is focused on maximizing shareholder value and driving results in line with its long-term financial targets.
Flowers Foods (NYSE: FLO) reported a robust first quarter for 2024. Sales increased by 2.8% to $1.577 billion, setting a new first-quarter record. Net income rose 3.3% to $73 million, driven by lower input costs and prior-year price increases, offset by higher selling, distribution, and administrative expenses.
Adjusted net income fell by 0.8% to $80.3 million, while adjusted EBITDA grew by 5.5% to $159.4 million, representing 10.1% of sales. Diluted EPS increased by $0.01 to $0.34, with adjusted diluted EPS steady at $0.38.
Chairman and CEO Ryals McMullian highlighted the successful execution of their portfolio strategy and marketing investments, noting gains in market share and improved branded retail volumes. Flowers Foods maintains its 2024 outlook, expecting sales between $5.091 billion and $5.172 billion, adjusted EBITDA between $524 million and $553 million, and adjusted diluted EPS between $1.20 and $1.30.
Flowers Foods, Inc. (NYSE: FLO) is set to release its first quarter 2024 financial results on May 16, 2024. The company will host a live webcast for Q&A at 5:00 p.m. Eastern. Flowers Foods is a leading producer of packaged bakery foods in the U.S., boasting strong brands like Nature's Own and Dave's Killer Bread.
Tastykake® announces a collaboration with The Garfield Movie™, offering -edition snacks and packaging. The promotion features a line of Garfield-themed treats like Cat Nap Cupcakes and a national sweepstakes with grand prizes. The collaboration aims to bring joy, humor, and delicious treats to fans of both brands.
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