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.
Wonder launches its new Wonder Hawaiian Buns, available in stores nationwide as of April 24, 2023. These buns feature Wonder's signature soft texture with a hint of sweetness, catering to consumer demand for sweeter variants in the bun category. Each package contains eight buns weighing 15 ounces. To celebrate, Wonder is hosting a Wonder Hawaiian BUNgalow Game from April 24 to June 4, allowing players to compete for prizes like a
Dave's Killer Bread is launching its new Organic Snack Bars, featuring three flavors: Cocoa Brownie Blitz, Trail Mix Crumble, and Oat-rageous Honey Almond. Each bar is packed with whole grains, fiber, and quality ingredients, catering to health-conscious consumers. The product launch follows a successful soft rollout in 2022. Priced at $5.99 for a box, and $1.99 per bar, the bars will be available nationwide and also on Amazon. Dave's Killer Bread is a leading organic brand under Flowers Foods (NYSE:FLO).
Flowers Foods has announced A. Ryals McMullian as the new chairman of the board, effective following the 2023 annual meeting of shareholders, succeeding George E. Deese who will retire from the position but remain a director. McMullian, who joined the board in 2019 and serves as president and CEO, brings valuable experience from his various leadership roles within the company since 2003. The board also appointed Thomas C. Chubb, III as presiding director. This leadership transition is part of the board's long-term succession planning aimed at enhancing Flowers Foods' competitive position and shareholder value.
Flowers Foods (NYSE:FLO) has completed the acquisition of Papa Pita Bakery, known for its high-quality baked goods including bagels and tortillas. This strategic move, announced on February 20, 2023, allows Flowers Foods to enhance its manufacturing and distribution efficiency. Papa Pita, a long-time co-manufacturer for Flowers, will continue as an independent subsidiary. In 2022, Flowers Foods reported sales of $4.8 billion, solidifying its position as a leading packaged bakery producer in the U.S. The acquisition aims to foster synergies that could lead to increased operational capabilities and market reach.
Flowers Foods, Inc. (NYSE: FLO) announced a $0.22 quarterly dividend, marking a 4.8% increase from the previous year. This is the 82nd consecutive quarterly dividend paid by the company. The dividend is payable on March 17, 2023, to shareholders on record by March 3, 2023. In 2022, Flowers Foods reported $4.8 billion in sales, solidifying its status as a major player in the packaged bakery foods industry. The company operates several renowned brands including Nature's Own and Dave's Killer Bread, indicating a robust market presence.
Flowers Foods reported strong financial results for fiscal 2022 and Q4 2022, with sales reaching a record $4.806 billion, up 11.0% year-over-year. Net income increased 10.8% to $228.4 million, while adjusted EBITDA rose 2.3% to $502.0 million. In Q4, sales improved by 10.1% to $1.083 billion, and net income surged 23.6% to $48.6 million. The company expects FY 2023 sales of $5.176 billion to $5.242 billion, indicating a growth range of 7.7% to 9.1%.
CEO Ryals McMullian noted strategic initiatives, including price increases and an acquisition agreement with Papa Pita Bakery to bolster growth and innovation.
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