Flowers Foods, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended October 07, 2023
November 09, 2023 at 04:11 pm EST
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Flowers Foods, Inc. reported earnings results for the third quarter and nine months ended October 07, 2023. For the third quarter, the company reported sales was USD 1,199.26 million compared to USD 1,158.17 million a year ago. Net loss was USD 46.73 million compared to net income of USD 40.53 million a year ago. Basic loss per share from continuing operations was USD 0.22 compared to basic earnings per share from continuing operations of USD 0.19 a year ago. Diluted loss per share from continuing operations was USD 0.22 compared to diluted earnings per share from continuing operations of USD 0.19 a year ago.
For the nine months, sales was USD 3,961.8 million compared to USD 3,723.15 million a year ago. Net income was USD 87.74 million compared to USD 179.8 million a year ago. Basic earnings per share from continuing operations was USD 0.41 compared to USD 0.85 a year ago. Diluted earnings per share from continuing operations was USD 0.41 compared to USD 0.84 a year ago.
Flowers Foods, Inc. is a producer and marketer of packaged bakery foods in the United States. The Company's products include breads, buns, rolls, snack items, bagels, English muffins, and tortillas and are sold under a variety of brand names, including Nature's Own, Dave's Killer Bread (DKB), Wonder, Canyon Bakehouse, Tastykake, and Mrs. Freshley's. Its fresh baked foods customers include mass merchandisers, supermarkets and other retailers, restaurants, quick-serve chains, food wholesalers, institutions, dollar stores and vending companies. It supplies national and regional restaurants, institutions and foodservice distributors, and retail in-store bakeries with breads and rolls. It sells packaged bakery products to wholesale distributors for ultimate sale to food outlets. It sells packaged snack cakes primarily to customers who distribute them nationwide through multiple channels of distribution, including mass merchandisers, supermarkets, vending outlets and convenience stores.