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Jan 02, 2021
Flowers Foods Q4 2020 Earnings Report
Flowers Foods reported Q4 2020 results with increased sales and net income.
Key Takeaways
Flowers Foods reported an 11.5% increase in sales to $1.023 billion and a significant increase in net income to $55.8 million for the fourth quarter of 2020. The company's performance was driven by a positive mix shift towards branded retail products and the contribution of an additional week in the fiscal calendar.
Sales increased by 11.5% to $1.023 billion, with an 8.2% contribution from the additional week.
Net income rose to $55.8 million, a $53.6 million increase from the prior year.
Adjusted net income increased by 55.3% to $59.1 million.
Adjusted EBITDA increased by 34.3% to $113.5 million, representing 11.1% of sales.
Revenue by Segment
Forward Guidance
For the 52-week Fiscal 2021, the company expects sales in the range of approximately $4.212 billion to $4.300 billion, representing a change of approximately -4.0% to -2.0%. Diluted EPS is expected to be in the range of approximately $1.07 to $1.17.
Positive Outlook
- Benefits from brand investments
- Continued savings from portfolio optimization
- Continued savings from operational efficiencies
- Depreciation and amortization in the range of $133 million to $138 million
- Net interest expense of approximately $12 million
Challenges Ahead
- Expectation of some mix reversion during the year as the impact of the pandemic dissipates
- Potential for a higher promotional environment
- Back-half commodity headwinds
- Investment to implement our digital initiative
Historical Earnings Impact
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Avg. Return Before/After Earnings
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