The 10-second takeaway
For the quarter ended April 21 (Q1), Flowers Foods met expectations on revenues and met expectations on earnings per share.
Compared to the prior-year quarter, revenue increased and GAAP earnings per share dropped.
Margins dropped across the board.
Flowers Foods reported revenue of $898.2 million. The nine analysts polled by S&P Capital IQ expected to see a top line of $892.2 million on the same basis. GAAP reported sales were 12% higher than the prior-year quarter's $801.8 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.28. The 10 earnings estimates compiled by S&P Capital IQ anticipated $0.28 per share. GAAP EPS of $0.28 for Q1 were 6.7% lower than the prior-year quarter's $0.30 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 46.7%, 220 basis points worse than the prior-year quarter. Operating margin was 6.6%, 180 basis points worse than the prior-year quarter. Net margin was 4.2%, 90 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $702.5 million. On the bottom line, the average EPS estimate is $0.23.
Next year's average estimate for revenue is $2.98 billion. The average EPS estimate is $1.02.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 347 members out of 357 rating the stock outperform, and 10 members rating it underperform. Among 103 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 100 give Flowers Foods a green thumbs-up, and three give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Flowers Foods is hold, with an average price target of $21.29.
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