Flowers Foods Earnings: Here’s Why Investors are Buying Shares Now
Flowers Foods, Inc. (NYSE:FLO) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 5.55%.
Flowers Foods, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 60% to $0.24 in the quarter versus EPS of $0.15 in the year-earlier quarter.
Revenue: Rose 31.79% to $898.2 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Flowers Foods, Inc. reported adjusted EPS income of $0.24 per share. By that measure, the company beat the mean analyst estimate of $0.23. It beat the average revenue estimate of $859.39 million.
Quoting Management: Commenting on second quarter results, President and CEO Allen Shiver said, “Our team’s extraordinary efforts to serve customers’ needs resulted in another record quarter for Flowers Foods. Similar to the results reported last quarter, sales were up across all channels and earnings were strong. Margins improved due to higher volume and capacity utilization. It is gratifying that our long-term investments in our bakeries, distribution systems, and our team positioned us to take advantage of growth opportunities available in the marketplace. Our confidence in the current year and long-term outlook is reflected in our guidance.
Key Stats (on next page)…