Flowers Foods Q1 record sales $1.577B; branded retail volumes grow 0.3%, reaffirms FY guidance

FLOWERS FOODS INC

2024-Q1 EPS reported $0.34 revenue$1,576,818,000

Q1 sales $1.577B (+2.8% YoY); net income $73.0M (+3.3%); diluted EPS $0.34.
Branded retail sales $1.015B (+3.5%); volume +0.3% (first quarterly branded volume growth since 2020).
Adjusted EBITDA $159.4M (+5.5%); margin 10.1% (+30 bps).
FY2024 outlook: sales $5.091-5.172B; adj. EPS $1.20-$1.30; capEx raised to $145-155M.
Operating cash flow $105.1M (+$47.2M); dividends paid $51.1M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

FLOWERS FOODS INC reported 16-week first quarter ended April 20, 2024 results: revenue $1.577 billion, net income $73.0 million, EPS $0.34. Guidance reaffirmed.

Period: 16-week first quarter ended April 20, 2024
Revenue: $1.577 billion
Net income: $73.0 million
EPS: $0.34
Guidance: reaffirmed
Result: reported results

Exact text from the filing

FLOWERS FOODS, INC. REPORTS FIRST QUARTER 2024 RESULTS THOMASVILLE, Ga. – Flowers Foods, Inc. (NYSE: FLO) today reported financial results for the company’s 16-week first quarter ended April 20, 2024. First Quarter Summary: Compared to the prior year first quarter where applicable • Sales increased 2.8% to a first-quarter record, $1.577 billion. • Net income increased 3.3% to $73.0 million, primarily due to moderating input costs and price increases implemented in the prior year, partly offset by higher selling, distribution, and administrative expenses. Adjusted net income (1) decreased 0.8% to $80.3 million. • Adjusted EBITDA (1) increased 5.5% to $159.4 million, representing 10.1% of sales, a 30-basis point increase. • Diluted EPS increased $0.01 to $0.34. Adjusted diluted EPS (1) was consistent with the prior year period at $0.38.

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Source: SEC EDGAR

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