Flowers Foods Q4 2022 Earnings Report
Key Takeaways
Flowers Foods reported a 10.1% increase in sales, reaching a quarter-record of $1.083 billion, and a 23.6% increase in net income to $48.6 million for the fourth quarter of 2022. The company is investing in continued growth for this year and beyond.
Sales increased 10.1% to a quarter-record $1.083 billion.
Net income increased 23.6% to $48.6 million.
Diluted EPS increased $0.05 to $0.23.
Branded Retail sales increased 7.6% to $698.8 million.
Flowers Foods
Flowers Foods
Flowers Foods Revenue by Segment
Forward Guidance
For the 52-week Fiscal 2023, the Company Expects: Sales in the range of approximately $5.176 billion to $5.242 billion, representing an increase of approximately 7.7% to 9.1% compared to the prior year period. Adjusted EBITDA in the range of approximately $513 million to $543 million. Adjusted EPS in the range of approximately $1.20 to $1.30.
Positive Outlook
- Sales in the range of approximately $5.176 billion to $5.242 billion, representing an increase of approximately 7.7% to 9.1% compared to the prior year period.
- Adjusted EBITDA in the range of approximately $513 million to $543 million.
- Adjusted EPS in the range of approximately $1.20 to $1.30.
- Depreciation and amortization in the range of $160 million to $165 million
- Net interest expense of approximately $8 million to $12 million
Challenges Ahead
- An effective tax rate of approximately 25%
- Weighted average diluted share count for the year of approximately 213 million shares
- Capital expenditures in the range of $140 million to $150 million, with $20 million to $30 million related to the ERP upgrade
- Unexpected changes in general economic and business conditions
- The ultimate impact of the COVID-19 pandemic and future responses