Thu, May 16, 8:13 PM (71 days ago)
Flowers Foods, Inc. reported a 2.8% increase in sales for the quarter ending April 20, 2024, driven by a 3.1% favorable price/mix and a 0.5% contribution from the Papa Pita acquisition, partially offset by a 0.8% decline in volume. Income from operations rose to $101.5 million from $93.8 million in the prior year, attributed to moderating input costs and prior year price increases. Net income was $73.0 million, up from $70.7 million, despite higher interest expenses and a higher effective tax rate. The company generated $105.1 million in operating cash flow, invested $33.3 million in capital expenditures, and reduced debt by $5.0 million. The company also paid $51.1 million in dividends. Future risks include ongoing supply chain disruptions, labor market challenges, and economic uncertainties. The company expects continued benefits from prior pricing actions but anticipates ongoing challenges from inflation and market volatility.