Flowers Foods Q2 sales record $1.228B +8.8%, EPS $0.30, raises FY23 guidance; CSO retiring

FLOWERS FOODS INC

2023-Q2 EPS reported $0.63 revenue$2,762,543,000

Q2 sales $1.228B (record, +8.8% YoY); net income $63.8M (+18.8%); diluted EPS $0.30 vs $0.25.
Adjusted diluted EPS $0.33 vs $0.31; adjusted EBITDA $133.1M (+10.9%, 10.8% margin).
FY23 guidance raised: sales $5.095-5.141B; adj. EBITDA $503-528M; adj. EPS $1.18-1.25.
Chief Sales Officer D. Keith Wheeler retiring after 35 years; steps down Aug 31, 2023, to senior advisor until Dec 31, 2023, then consultant.

item 2.02 item 5.02 item 9.01

Executive movements

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Departed

D. Keith Wheeler

chief sales officer

FLO · FLOWERS FOODS INC

Effective: 2023-08-31
Filed: August 11, 2023, 7:59 PM ET

On August 10, 2023, D. Keith Wheeler, chief sales officer of the Company, notified the Company that he will retire from the Company.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

FLOWERS FOODS INC reported for the company's 12-week fiscal second quarter ended July 15, 2023 results: revenue a second quarter-record $1.228 billion, net income $63.8 million, EPS $0.30. Guidance raised.

Period: for the company's 12-week fiscal second quarter ended July 15, 2023
Revenue: a second quarter-record $1.228 billion
Net income: $63.8 million
EPS: $0.30
Guidance: raised
Result: reported results

Exact text from the filing

Flowers Foods, Inc. (NYSE: FLO) today reported financial results for the company's 12-week fiscal second quarter ended July 15, 2023. Second Quarter Summary: Compared to the prior year second quarter where applicable • Sales increased 8.8% to a second quarter-record $1.228 billion. • Net income increased 18.8% to $63.8 million. Adjusted net income(1) increased 8.8% to $70.9 million. • Adjusted EBITDA(1) increased 10.9% to $133.1 million, representing 10.8% of sales, a 20-basis point increase. • Diluted EPS increased $0.05 to $0.30. Adjusted diluted EPS(1) increased $0.02 to $0.33.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

D. Keith Wheeler departed as chief sales officer at FLOWERS FOODS INC.

Action: retire
Role: chief sales officer

Exact text from the filing

On August 10, 2023, D. Keith Wheeler, chief sales officer of the Company, notified the Company that he will retire from the Company.

View on SEC.gov

8 earnings releases filed in the last 30 days. Browse all earnings releases →

FLOWERS FOODS INC filing history →

Source: SEC EDGAR

accession 0001193125-23-209701

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