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Dec 28, 2019
Flowers Foods Q4 2019 Earnings Report
Reported solid fourth quarter performance and record sales and operating cash flow for the full year.
Key Takeaways
Flowers Foods reported a 4.2% increase in sales to $917.8 million for the fourth quarter. Diluted EPS decreased to $0.01, while adjusted diluted EPS increased to $0.18. The company saw growth from key brands and made progress in portfolio and supply chain optimization.
Sales increased 4.2% to $917.8 million; excluding the acquisition of Canyon Bakehouse, net sales increased 1.2%.
Diluted EPS decreased $0.09 to $0.01.
Adjusted diluted EPS increased $0.02 to $0.18.
Branded retail sales increased $29.0 million, or 5.5%, to $551.7 million
Revenue by Segment
Forward Guidance
For the 53-week fiscal 2020, the company expects sales in the range of approximately $4.206 billion to $4.289 billion, representing growth of approximately 2.0% to 4.0%. Diluted EPS is expected in the range of approximately $0.50 to $0.64, and adjusted diluted EPS in the range of approximately $1.00 to $1.08, representing growth of approximately 4.2% to 12.5%.
Positive Outlook
- Sales growth in-line with long-term targets
- Strength of national brands
- Expected stabilization and growth of foodservice business
- Expected stabilization and growth of cake businesses
- Earnings growth driven by manufacturing efficiencies
Challenges Ahead
- Pension plan settlement loss
- Fluctuations in commodity pricing
- Energy and raw material costs and availability
- Increasing legal complexity
Historical Earnings Impact
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Avg. Return Before/After Earnings
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