Flowers Foods Q3 Earnings Top Estimates, Lifts FY21 Outlook

  • Flowers Foods Inc FLO reported third-quarter FY21 sales growth of 3.9% year-on-year, to $1.03 billion, beating the analyst consensus of $1.00 billion.
  • Branded retail sales increased 4.8% Y/Y to $689.1 million, store branded retail sales fell 8.5% to $124.6 million, while non-retail and other sales grew 9.2% to $214.2 million.
  • The operating margin was 5.1%, and operating income for the quarter fell 1.6% to $52.1 million.
  • Adjusted EBITDA increased 1.8% to $118.5 million, and the margin declined 30 basis points to 11.5%.
  • Adjusted EPS of $0.30 beat the analyst consensus of $0.25.
  • The company held $307.5 million in cash and equivalents as of October 9, 2021. Year-to-date cash flow from operating activities totaled $315.2 million.
  • Outlook: Flowers Foods raised FY21 sales outlook to $4.3 billion - $4.344 billion (prior view $4.256 billion - $4.3 billion), above the consensus of $4.28 billion.
  • The company raised FY21 EPS guidance to $1.22 - $1.26 (prior view $1.17 - $1.22), versus the consensus of $1.19.
  • Price Action: FLO shares closed higher by 0.04% at $25.50 on Thursday.
Market News and Data brought to you by Benzinga APIs
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsGuidanceBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!