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Oct 09, 2021
Flowers Foods Q3 2021 Earnings Report
Flowers Foods reported third quarter results with sales and earnings generated above year-ago results.
Key Takeaways
Flowers Foods reported a 3.9% increase in sales, reaching $1.028 billion, and a net income of $38.9 million. The company raised its 2021 sales and earnings guidance due to strong year-to-date performance.
Sales increased 3.9% to $1.028 billion.
Net income decreased 12.4% to $38.9 million.
Adjusted diluted EPS increased to $0.30.
The company is raising its 2021 sales and earnings guidance.
Revenue by Segment
Forward Guidance
For the 52-week Fiscal 2021, the company expects sales in the range of approximately $4.300 billion to $4.344 billion and Diluted EPS in the range of approximately $1.22 to $1.26.
Positive Outlook
- Sales in the range of approximately $4.300 billion to $4.344 billion.
- The new sales guidance represents an increase over prior guidance of approximately $4.256 billion to $4.300 billion.
- Diluted EPS in the range of approximately $1.22 to $1.26.
- EPS guidance includes a $0.01 impact in the fourth quarter for appreciation bonuses to be paid to frontline workers.
- Depreciation and amortization in the range of $135 million to $140 million
Challenges Ahead
- Sales represent a decrease of approximately 1.0% to 2.0% compared to the prior year period.
- This change includes a 1.8% reduction in sales due to one fewer week in fiscal 2021.
- The effect of one fewer week in fiscal 2021 impacts EPS by approximately $0.02.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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