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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.
Flowers Foods
Flowers Foods
Flowers Foods Revenue by Segment
Revenue by Segment
Branded Retail Revenue
CapyFin.com 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.
- Net interest expense of approximately $8 million
- An effective tax rate of approximately 24.5%