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) will announce its second quarter 2021 financial results on August 12, 2021, after market close. A conference call and webcast for results discussion will take place the following day, August 13, 2021, at 8:30 a.m. Eastern, lasting approximately 30 minutes. Investors can access the details and a replay on the company’s website. In 2020, Flowers Foods reported $4.4 billion in sales and is recognized as a leading producer of packaged bakery foods in the U.S.
Flowers Foods (NYSE: FLO) announced its acquisition of Koffee Kup Bakery, enhancing its market presence in the Northeast. The deal, involving closed bakeries in Vermont and Connecticut along with the Koffee Kup and Vermont Bread Company brands, aims to leverage existing consumer loyalty in the region. CEO Ryals McMullian noted that there are no immediate plans to reopen the bakeries, as their integration into Flowers' strategic network will be evaluated. Koffee Kup, founded in 1940, had a strong foothold in the market before its closure in April 2021.
Flowers Foods, Inc. (NYSE: FLO) has declared a quarterly dividend of $0.21 per share, marking a 5.0% increase from the previous year. This dividend, representing the 75th consecutive quarterly payout, will be distributed on June 24, 2021, to shareholders of record as of June 10, 2021. The annualized dividend rate rises to $0.84 per share. CEO Ryals McMullian expressed confidence that the company's brands will ensure growth, supporting ongoing shareholder rewards.
Flowers Foods reported a 3.5% sales decrease to $1.302 billion for Q1 2021, contrasting with record pandemic results from the previous year. However, net income rose to $71.7 million, up $77.4 million due to a previous pension charge. Adjusted net income increased 1.3% to $87.6 million, while adjusted EBITDA fell 1.0% to $161.6 million, representing 12.4% of sales. The company forecasts 2021 sales between $4.234 billion and $4.300 billion, anticipating a slight decline, but remains optimistic about brand momentum and future investments.
Flowers Foods will announce its first quarter 2021 financial results on May 20, 2021, after market close. This event will be followed by a live Q&A webcast on May 21, 2021, at 8:30 a.m. Eastern. Flowers Foods is a leading U.S. packaged bakery producer, reporting $4.4 billion in sales for 2020. Their well-known brands include Nature's Own, Dave’s Killer Bread, and Wonder. Investors can access the webcast and related materials on the company's investor relations website.
Ibotta, a leading rewards platform, has partnered with Nature's Own on April 12, 2021, to celebrate National Grilled Cheese Sandwich Day. For one day only, Ibotta Savers can receive a free loaf of Nature's Own bread and a $0.25 discount on cheese. Users need to download the Ibotta app, add the offers, and upload their purchase receipts to get cash back. Ibotta has delivered nearly $900 million in rewards since its launch in 2012 and has over 40 million downloads. Nature's Own is owned by Flowers Foods (NYSE: FLO), known for its quality and healthy bread options.
Flowers Foods, Inc. (NYSE: FLO) announced a public offering of $500 million in senior notes with a 2.400% interest rate due in 2031. The offering is expected to close on March 9, 2021. Proceeds will be used to redeem $400 million of existing 4.375% senior notes due 2022, with the remainder allocated for general corporate purposes. Deutsche Bank and BofA Securities are leading the offering, which is filed under an automatic shelf registration with the SEC.
Flowers Foods (NYSE: FLO) announced a quarterly dividend of $0.20 per share, reflecting a 5.3% increase from the previous year. This marks the 74th consecutive quarterly dividend the company has paid. The dividend is set to be paid on March 19, 2021, to shareholders on record as of March 5, 2021. Flowers, a leading bakery products producer in the U.S., reported $4.4 billion in sales for 2020, emphasizing its strong market presence and commitment to returning value to shareholders.
Flowers Foods (NYSE: FLO) reported its financial results for the 53-week fiscal 2020, ending January 2, 2021. Total sales increased by 6.4% to $4.388 billion, driven by an additional week contributing 1.8%. Net income decreased 7.4% to $152.3 million, while adjusted net income rose 36.1% to $278.0 million. For Q4 alone, sales surged 11.5% to $1.023 billion, with adjusted EBITDA climbing 34.3% to $113.5 million. For fiscal 2021, FLO anticipates sales between $4.212 billion and $4.300 billion, reflecting a projected decrease.
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