Flowers Foods Q1 EPS falls 17% to $0.33; guides FY2023 adjusted EPS $1.15-$1.25

FLOWERS FOODS INC

2023-Q1 EPS reported $0.33 revenue$1,534,493,000

Net income $70.7M (-17.4%), diluted EPS $0.33; adjusted net income $80.9M (-13.1%), adjusted EPS $0.38.
Sales record $1.534B (+6.9%) driven by pricing/mix +13.6%, volumes -7.3%.
Branded retail sales +2.5% to $979.3M; other sales +15.6% to $555.1M.
FY2023 outlook: sales $5.086B-$5.141B, adjusted EBITDA $494M-$528M, adjusted EPS $1.15-$1.25.
Cash from operations $58M vs $124.2M prior year; dividends paid $49.1M.

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 0.98

FLOWERS FOODS INC reported 52-week Fiscal 2023 results: revenue Sales in the range of approximately $5.086 billion to $5.141 billion, EPS Adjusted EPS(2) in the range of approximately $1.15 to $1.25. Guidance lowered.

Period: 52-week Fiscal 2023
Revenue: Sales in the range of approximately $5.086 billion to $5.141 billion
EPS: Adjusted EPS(2) in the range of approximately $1.15 to $1.25
Guidance: lowered
Result: guidance update

Exact text from the filing

For the 52-week Fiscal 2023, the Company Expects: • Sales in the range of approximately $5.086 billion to $5.141 billion, representing an increase of approximately 5.8% to 7.0% compared to the prior year period. • Adjusted EBITDA(2) in the range of approximately $494 million to $528 million. • Adjusted EPS(2) in the range of approximately $1.15 to $1.25.

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Source: SEC EDGAR

accession 0001193125-23-148740

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