FLOWERS FOODS, INC. REPORTS FIRST QUARTER 2026 RESULTS
Rhea-AI Summary
Flowers Foods (NYSE:FLO) reported Q1 2026 net sales up 1.1% to $1.572 billion, while net income fell 20.6% to $42.1 million and diluted EPS declined to $0.20.
The board declared a $0.125 quarterly dividend and reaffirmed 2026 guidance, including adjusted EPS of $0.80–$0.90 and adjusted EBITDA of $465–$495 million.
Positive
- Net sales grew 1.1% to $1.572 billion
- Branded retail net sales increased 3.4% to $1.045 billion
- Adjusted SD&A ratio improved 20 bps to 39.3% of sales
- Adjusted EBITDA of $159.0 million, 10.1% of net sales
- Reaffirmed 2026 guidance: adjusted EBITDA $465–$495 million, adjusted EPS $0.80–$0.90
- Declared quarterly dividend of $0.125 per share, payable June 26, 2026
Negative
- Net income declined 20.6% to $42.1 million
- Diluted EPS decreased $0.05 to $0.20; adjusted EPS down to $0.29
- Adjusted EBITDA decreased 1.8% to $159.0 million
- Overall volume declined 3.3%; Other net sales down 3.1%
- Materials and production costs rose 50 bps to 50.6% of sales
- Operating cash flow fell $27.8 million to $107.9 million
- Net interest expense increased $5.6 million, mainly from acquisition-related debt
News Market Reaction – FLO
In the May 22 session, FLO gained 13.27%, reflecting a significant positive market reaction. Argus tracked a peak move of +15.9% during that session. Argus tracked a trough of -2.3% from its starting point during tracking. Our momentum scanner triggered 45 alerts that day, indicating elevated trading interest and price volatility.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Feb 12 | Q4/FY25 earnings | Negative | -8.7% | Net income fell sharply on large impairment despite higher sales and set 2026 guide. |
| Nov 06 | Q3 2025 earnings | Negative | +1.9% | Sales rose but profits and adjusted EBITDA declined; guidance narrowed amid category pressure. |
| Aug 15 | Q2 2025 earnings | Negative | -5.4% | Mixed quarter with lower income and reduced FY2025 guidance despite Simple Mills contribution. |
| May 16 | Q1 2025 earnings | Negative | +1.4% | Sales and profits declined and guidance was cut even as adjusted EBITDA improved. |
| Feb 07 | Q4/FY24 earnings | Positive | -1.3% | Full-year net income doubled and adjusted EBITDA improved despite soft top-line trends. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Earnings releases have often seen negative price reactions, especially when profits or guidance weaken, with some divergences where shares rose despite mixed fundamentals.
Recent earnings for Flowers Foods have frequently combined modest net sales growth with pressured profitability and guidance resets. Prior quarters highlighted acquisition impacts, restructuring, and impairment charges, with price reactions often negative, including moves of -8.72% and -5.37% on some reports. Occasionally, shares rose on mixed updates. Today’s first-quarter 2026 release, featuring slight sales growth but weaker net income and adjusted metrics alongside reaffirmed 2026 guidance, fits this pattern of operational pressure within a challenging category backdrop.
Key Terms
adjusted ebitda financial
ebitda financial
non-gaap financial measures financial
diluted eps financial
net sales financial
effective tax rate financial
capital expenditures financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
First Quarter Summary:
Compared to the prior year first quarter where applicable
- Net sales(1) increased
1.1% to$1.572 billion - Net income decreased
20.6% to$42.1 million 2.7% of sales, a 70-basis point decrease, primarily due to a challenging consumer environment and higher interest expense, partly offset by the prior year plant closure costs and moderating ingredient costs. Adjusted net income(2) decreased17.4% to$60.9 million - Adjusted EBITDA(2) decreased
1.8% to$159.0 million 10.1% of net sales, a 30-basis point decrease. - Diluted EPS decreased
$0.05 $0.20 $0.06 $0.29
Quarterly Cash Dividend Declared
The company today announced that its board of directors has declared a quarterly dividend of
Chairman and CEO Remarks:
"Flowers' first quarter reflects our team's disciplined cost management, helping us deliver financial performance in-line with expectations despite softer top-line results driven by ongoing challenging macroeconomic conditions impacting the category," said Ryals McMullian, chairman and CEO of Flowers Foods. "At the same time, we've made meaningful progress in strengthening our long-term position by evolving our product portfolio to better meet consumers' needs, including the relaunch of Nature's Own, now with simple ingredients and Non-GMO Project Verified certification – a mainstream category first. While we continue to approach the balance of the year with appropriate caution given the ongoing challenging external environment, we remain confident in the strength of our brands, robust supply chain and delivery network, growing presence in the better-for-you categories, and improving balance sheet. These factors give us confidence we are well positioned to navigate headwinds and drive long-term shareholder value."
"The comprehensive review of our brand portfolio, supply chain, and financial strategy announced last quarter is well underway and helping to further clarify how we allocate resources to strengthen our position and support the growth of our strongest brands," McMullian added. "As part of this effort, we reset our quarterly dividend to
For the 52-week Fiscal 2026, the Company Expects:
- Net sales of approximately
$5.163 billion $5.267 billion 1.8% to0.2% change compared to the prior year. - Adjusted EBITDA(3) in the range of approximately
$465 million $495 million - Adjusted diluted EPS(2) of approximately
$0.80 $0.90
The company's outlook is based on the following assumptions:
- Depreciation and amortization of approximately
$165 million $170 million - Net interest expense of approximately
$65 million $70 million - An effective tax rate of approximately
26% . - Weighted average diluted share count for the year of approximately 213.5 million shares.
- Capital expenditures of approximately
$115 million $125 million
Matters Affecting Comparability:
Reconciliation of Earnings per Share to Adjusted Earnings per Share | ||||||||
For the 16-Week | For the 16-Week | |||||||
April 25, 2026 | April 19, 2025 | |||||||
Net income per diluted common share | $ | 0.20 | $ | 0.25 | ||||
Business process improvement costs | NM | NM | ||||||
Plant closure costs and impairment of assets | — | 0.03 | ||||||
Restructuring charges | 0.01 | NM | ||||||
Restructuring-related implementation costs | 0.03 | 0.02 | ||||||
Acquisition and integration-related costs | NM | (a) | 0.05 | |||||
Legal settlements and related costs | 0.05 | NM | ||||||
Adjusted net income per diluted common share | $ | 0.29 | $ | 0.35 | ||||
(a) Deductible tax impact of prior period acquisition-related costs that impacted this period by | ||||||||
NM - not meaningful. Certain amounts may not add due to rounding. |
Consolidated First Quarter Operating Highlights
Compared to the prior year first quarter where applicable
- Net sales increased
1.1% to$1.572 billion 2.1% , volume(5) declined3.3% , and the Simple Mills acquisition, which cycled on February 21, 2026, added2.3% . - Branded Retail net sales increased
$34.1 million 3.4% , to$1.045 billion 4.0% , volume(5) decreased4.2% , and the Simple Mills acquisition contributed3.6% . - Other net sales decreased
$16.7 million 3.1% , to$526.2 million 1.2% and volume(5) declined1.9% . - Materials, supplies, labor, and other production costs (exclusive of depreciation and amortization) were
50.6% of net sales, a 50-basis point increase. These costs increased as a percentage of net sales mostly due to an increase in outside purchases of product (sales with no associated ingredient costs) and lower production volumes. This increase was partially offset by moderating ingredient costs. - Selling, distribution, and administrative (SD&A) expenses were
40.9% of net sales, a 10-basis point increase. SD&A expenses increased as a percentage of net sales due to higher workforce-related costs and greater legal settlements and restructuring implementation costs, partially offset by lower distributor distribution fees and prior year acquisition costs. Excluding matters affecting comparability, adjusted SD&A(2) was39.3% of net sales, a 20-basis point decrease. - Plant closure costs and impairment of assets decreased
$7.4 million - Depreciation and amortization (D&A) expenses were
$51.8 million 3.3% of net sales, a 10-basis point increase. - Net interest expense increased
$5.6 million - Net income decreased
20.6% to$42.1 million 2.7% of sales, a 70-basis point decrease, and diluted EPS decreased$0.05 $0.20 17.4% to$60.9 million $0.06 $0.29 - Adjusted EBITDA(2) decreased
1.8% to$159.0 million 10.1% of net sales, a 30-basis point decrease.
Cash Flow, Capital Allocation, and Capital Return
- In the first quarter, cash flow from operating activities decreased
$27.8 million $107.9 million $4.9 million $20.6 million $2.1 million $54.4 million $11.5 million
(1) Any reference to sales refers to net sales inclusive of allowances and deductions against gross sales for variable consideration and consideration payable to customers
(2) Adjusted for items affecting comparability. See reconciliations of non-GAAP measures in the financial statements following this release. Earnings are net income. EBITDA and Adjusted EBITDA are reconciled to net income.
(3) No reconciliation of the forecasted range for adjusted EBITDA to net income for the 52-week Fiscal 2026 is included in this press release because the company is unable to quantify certain amounts that would be required to be included in the GAAP measure without unreasonable efforts. In addition, the company believes such reconciliation would imply a degree of precision that would be confusing or misleading to investors. For the same reasons, the company is unable to address the probable significance of the unavailable information, which could be material to future results.
(4) Calculated as (current year period units X change in price per unit) / prior year period net sales dollars
(5) Calculated as (prior year period price per unit X change in units) / prior year period net sales dollars
Pre-Recorded Management Remarks and Question and Answer Webcast
In conjunction with this release, Flowers Foods will post pre-recorded management remarks and a supporting slide presentation on the investors page of flowersfoods.com. The company will host a live question and answer webcast at 8:30 a.m. Eastern Time on May 22, 2026, which will be archived on the investors page along with the other related materials.
About Flowers Foods
Headquartered in
FLO-CORP FLO-IR
Forward-Looking Statements
Statements contained in this press release and certain other written or oral statements made from time to time by Flowers Foods, Inc. (the "company", "Flowers Foods", "Flowers", "us", "we", or "our") and its representatives that are not historical facts are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements relate to current expectations regarding our business and our future financial condition and results of operations and are often identified by the use of words and phrases such as "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "predict," "project," "should," "will," "would," "is likely to," "is expected to" or "will continue," or the negative of these terms or other comparable terminology. These forward-looking statements are based upon assumptions we believe are reasonable. Forward-looking statements are based on current information and are subject to risks and uncertainties that could cause our actual results to differ materially from those projected. Certain factors that may cause actual results, performance, liquidity, and achievements to differ materially from those projected are discussed in our Annual Report on Form 10-K for the year ended January 3, 2026 (the "Form 10-K") and our Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission ("SEC") and may include, but are not limited to, (a) unexpected changes in any of the following: (1) general economic and business conditions; (2) the competitive setting in which we operate, including advertising or promotional strategies by us or our competitors, as well as changes in consumer demand; (3) interest rates and other terms available to us on our borrowings; (4) supply chain conditions and any related impact on energy and raw materials costs and availability and hedging counter-party risks; (5) relationships with or increased costs related to our employees and third-party service providers; (6) laws and regulations (including environmental and health-related issues and the impacts of tariffs, including retaliatory tariffs); and (7) accounting standards or tax rates in the markets in which we operate, (b) the loss or financial instability of any significant customer(s), including as a result of product recalls or safety concerns related to our products, (c) changes in consumer behavior, trends and preferences, including health and whole grain trends and consumer buying habits, the movement toward less expensive store branded products, and the continued reduction of purchases in the fresh packaged bread category, (d) the level of success we achieve in developing and introducing new products and entering new markets, (e) our ability to implement new technology and customer requirements as required, (f) our ability to operate existing, and any new, manufacturing lines according to schedule, (g) our ability to implement and achieve our corporate responsibility goals in accordance with regulatory requirements and the expectations of our stakeholders, suppliers, and customers; (h) our ability to execute our business strategies which may involve, among other things, (1) the ability to realize the intended benefits of completed, planned or contemplated acquisitions, dispositions or joint ventures, such as the acquisition of Simple Mills, (2) the deployment of new systems (e.g., our enterprise resource planning ("ERP") system), distribution channels and technology, and (3) an enhanced organizational structure (e.g., our sales and supply chain reorganization), (i) consolidation within the baking industry and related industries, (j) changes in pricing, customer and consumer reaction to pricing actions (including decreased volumes), and the pricing environment among competitors within the industry, (k) our ability to adjust pricing to offset, or partially offset, inflationary pressure or tariffs (including retaliatory tariffs) on the cost of our products, including ingredient and packaging costs; (l) disruptions in our direct-store-delivery distribution model, including litigation or an adverse ruling by a court or regulatory or governmental body that could affect the independent contractor classifications of the independent distributor partners ("IDPs"), and changes to our direct-store-delivery distribution model in
Information Regarding Non-GAAP Financial Measures
The company prepares its consolidated financial statements in accordance with
The company defines EBITDA as earnings before interest, taxes, depreciation and amortization. Earnings are net income. The company believes that EBITDA is a useful tool for managing the operations of its business and is an indicator of the company's ability to incur and service indebtedness and generate free cash flow. The company also believes that EBITDA measures are commonly reported and widely used by investors and other interested parties as measures of a company's operating performance and debt servicing ability because EBITDA measures assist in comparing performance on a consistent basis without regard to depreciation or amortization, which can vary significantly depending upon accounting methods and non-operating factors (such as historical cost). EBITDA is also a widely-accepted financial indicator of a company's ability to incur and service indebtedness.
EBITDA should not be considered an alternative to (a) income from operations or net income (loss) as a measure of operating performance; (b) cash flows provided by operating, investing and financing activities (as determined in accordance with GAAP) as a measure of the company's ability to meet its cash needs; or (c) any other indicator of performance or liquidity that has been determined in accordance with GAAP.
The company defines adjusted EBITDA, adjusted EBITDA margin, adjusted net income, adjusted diluted EPS, adjusted income tax expense and adjusted SD&A, respectively, to exclude additional costs that the company considers important to present to investors to increase the investors' insights about the company's core operations. These costs include, but are not limited to, the costs of closing a plant or costs associated with acquisition and integration-related activities, restructuring activities, certain impairment charges, legal settlements, costs to implement an enterprise resource planning system and enhance bakery digital capabilities (business process improvement costs) to provide investors direct insight into these costs, and other costs impacting past and future comparability. The company believes that these measures, when considered together with its GAAP financial results, provide management and investors with a more complete understanding of its business operating results, including underlying trends, by excluding the effects of certain charges. Adjusted EBITDA is used as the primary performance measure in the company's 2014 Omnibus Equity and Incentive Compensation Plan (Amended and Restated Effective May 25, 2023).
Presentation of gross margin includes depreciation and amortization in the materials, supplies, labor and other production costs according to GAAP. Our method of presenting gross margin excludes the depreciation and amortization components, as discussed above.
The reconciliations attached provide reconciliations of the non-GAAP measures used in this release to the most comparable GAAP financial measure.
Flowers Foods, Inc. Condensed Consolidated Balance Sheets | ||||||||
(000's omitted) | ||||||||
April 25, 2026 | January 3, 2026 | |||||||
Assets | ||||||||
Cash and cash equivalents | $ | 11,519 | $ | 12,100 | ||||
Other current assets | 728,985 | 694,753 | ||||||
Property, plant and equipment, net | 931,774 | 952,725 | ||||||
Right-of-use leases, net | 316,968 | 321,116 | ||||||
Distributor notes receivable (1) | 129,263 | 130,723 | ||||||
Other assets | 41,416 | 40,007 | ||||||
Cost in excess of net tangible assets, net | 2,020,705 | 2,032,437 | ||||||
Total assets | $ | 4,180,630 | $ | 4,183,861 | ||||
Liabilities and Stockholders' Equity | ||||||||
Current liabilities | $ | 521,627 | $ | 502,804 | ||||
Long-term debt (2) | 1,723,772 | 1,755,132 | ||||||
Right-of-use lease liabilities (3) | 318,902 | 325,075 | ||||||
Other liabilities | 313,883 | 297,363 | ||||||
Stockholders' equity | 1,302,446 | 1,303,487 | ||||||
Total liabilities and stockholders' equity | $ | 4,180,630 | $ | 4,183,861 | ||||
(1) Includes current portion of | ||||||||
(2) Includes current portion of | ||||||||
(3) Includes current portion of | ||||||||
Flowers Foods, Inc. Consolidated Statement of Operations | ||||||||
(000's omitted, except per share data) | ||||||||
For the 16-Week Period | For the 16-Week Period | |||||||
April 25, 2026 | April 19, 2025 | |||||||
Net sales | $ | 1,571,577 | $ | 1,554,230 | ||||
Materials, supplies, labor and other production costs (exclusive of | 795,389 | 778,346 | ||||||
Selling, distribution, and administrative expenses | 642,934 | 633,513 | ||||||
Restructuring charges | 1,652 | 573 | ||||||
Plant closure costs and impairment of assets | — | 7,397 | ||||||
Depreciation and amortization expense | 51,790 | 49,268 | ||||||
Income from operations | 79,812 | 85,133 | ||||||
Other pension cost (benefit) | 118 | (117) | ||||||
Interest expense, net | 19,634 | 14,048 | ||||||
Income before income taxes | 60,060 | 71,202 | ||||||
Income tax expense | 18,005 | 18,204 | ||||||
Net income | $ | 42,055 | $ | 52,998 | ||||
Net income per diluted common share | $ | 0.20 | $ | 0.25 | ||||
Diluted weighted average shares outstanding | 212,577 | 212,138 | ||||||
Flowers Foods, Inc. Condensed Consolidated Statement of Cash Flows | ||||||||
(000's omitted) | ||||||||
For the 16-Week Period | For the 16-Week Period | |||||||
April 25, 2026 | April 19, 2025 | |||||||
Cash flows from operating activities: | ||||||||
Net income | $ | 42,055 | $ | 52,998 | ||||
Adjustments to reconcile net income to net cash from operating | ||||||||
Total non-cash adjustments | 86,488 | 77,135 | ||||||
Changes in assets and liabilities | (20,686) | 5,501 | ||||||
Net cash provided by operating activities | 107,857 | 135,634 | ||||||
Cash flows from investing activities: | ||||||||
Purchase of property, plant and equipment | (20,623) | (25,556) | ||||||
Acquisition of business, net of cash acquired | — | (791,880) | ||||||
Other | 990 | (18,578) | ||||||
Net cash disbursed for investing activities | (19,633) | (836,014) | ||||||
Cash flows from financing activities: | ||||||||
Dividends paid | (54,430) | (52,323) | ||||||
Stock repurchases | (3,787) | (5,499) | ||||||
Net change in debt borrowings | (32,000) | 776,580 | ||||||
Payment of financing fees | (1,767) | (10,056) | ||||||
Other | 3,179 | (5,987) | ||||||
Net cash (disbursed for) provided by financing activities | (88,805) | 702,715 | ||||||
Net (decrease) increase in cash and cash equivalents | (581) | 2,335 | ||||||
Cash and cash equivalents at beginning of period | 12,100 | 5,005 | ||||||
Cash and cash equivalents at end of period | $ | 11,519 | $ | 7,340 | ||||
Flowers Foods, Inc. Net Sales by Sales Class and Net Sales Bridge | ||||||||||||||||
(000's omitted) | ||||||||||||||||
Net Sales by Sales Class | For the 16-Week Period | For the 16-Week Period | ||||||||||||||
April 25, 2026 | April 19, 2025 | $ Change | % Change | |||||||||||||
Branded Retail | $ | 1,045,373 | $ | 1,011,322 | $ | 34,051 | 3.4 | % | ||||||||
Other | 526,204 | 542,908 | (16,704) | (3.1) | % | |||||||||||
Total Net Sales | $ | 1,571,577 | $ | 1,554,230 | $ | 17,347 | 1.1 | % | ||||||||
Net Sales Bridge | ||||||||||||
For the 16-week period ended April 25, 2026 | Branded Retail | Other | Total | |||||||||
Pricing/mix^* | 4.0 | % | (1.2) | % | 2.1 | % | ||||||
Volume* | (4.2) | % | (1.9) | % | (3.3) | % | ||||||
Acquisition (until cycled on February 21, 2026) | 3.6 | % | — | 2.3 | % | |||||||
Total percentage point change in net sales | 3.4 | % | (3.1) | % | 1.1 | % | ||||||
The table above presents certain sales by category that have been reclassified from amounts previously reported to conform | ||||||||||||
^ Includes sales reductions from variable consideration and payments to customers. | ||||||||||||
* Computations above are calculated as follows (the Total column is consolidated and is not adding the Branded Retail and | ||||||||||||
Price/Mix $ = Current year period units × change in price per unit | ||||||||||||
Price/Mix % = Price/Mix $ ÷ Prior year period Net Sales $ | ||||||||||||
Volume $ = Prior year period price per unit × change in units | ||||||||||||
Volume % = Volume $ ÷ Prior year period Net Sales $ | ||||||||||||
Flowers Foods, Inc. Reconciliation of GAAP to Non-GAAP Measures | ||||||||
(000's omitted, except per share data) | ||||||||
Reconciliation of Earnings per Share to Adjusted Earnings | ||||||||
For the 16-Week Period | For the 16-Week Period | |||||||
April 25, 2026 | April 19, 2025 | |||||||
Net income per diluted common share | $ | 0.20 | $ | 0.25 | ||||
Business process improvement costs | NM | NM | ||||||
Plant closure costs and impairment of assets | — | 0.03 | ||||||
Restructuring charges | 0.01 | NM | ||||||
Restructuring-related implementation costs | 0.03 | 0.02 | ||||||
Acquisition and integration-related costs | NM | (a) | 0.05 | |||||
Legal settlements and related costs | 0.05 | NM | ||||||
Adjusted net income per diluted common share | $ | 0.29 | $ | 0.35 | ||||
NM - not meaningful. | ||||||||
Certain amounts may not add due to rounding. | ||||||||
(a) Deductible tax impact of prior period acquisition-related costs that impacted this period by | ||||||||
Reconciliation of Gross Margin | ||||||||
For the 16-Week Period | For the 16-Week Period | |||||||
April 25, 2026 | April 19, 2025 | |||||||
Net sales | $ | 1,571,577 | $ | 1,554,230 | ||||
Materials, supplies, labor and other production costs (exclusive | 795,389 | 778,346 | ||||||
Gross margin excluding depreciation and amortization | 776,188 | 775,884 | ||||||
Less depreciation and amortization for production activities | 28,961 | 27,484 | ||||||
Gross margin | $ | 747,227 | $ | 748,400 | ||||
Depreciation and amortization for production activities | $ | 28,961 | $ | 27,484 | ||||
Depreciation and amortization for selling, distribution, and | 22,829 | 21,784 | ||||||
Total depreciation and amortization | $ | 51,790 | $ | 49,268 | ||||
Reconciliation of Selling, Distribution, and Administrative | ||||||||
For the 16-Week Period Ended | For the 16-Week Period Ended | |||||||
April 25, 2026 | April 19, 2025 | |||||||
Selling, distribution, and administrative expenses | $ | 642,934 | $ | 633,513 | ||||
Business process improvement costs | (1,241) | (891) | ||||||
Restructuring-related implementation costs | (8,227) | (4,288) | ||||||
Acquisition and integration-related costs | (1,897) | (13,764) | ||||||
Legal settlements and related costs | (14,400) | (697) | ||||||
Adjusted SD&A | $ | 617,169 | $ | 613,873 | ||||
Flowers Foods, Inc. Reconciliation of GAAP to Non-GAAP Measures | ||||||||
(000's omitted, except per share data) | ||||||||
Reconciliation of Net Income to EBITDA and Adjusted | ||||||||
For the 16-Week Period Ended | For the 16-Week Period Ended | |||||||
April 25, 2026 | April 19, 2025 | |||||||
Net income | $ | 42,055 | $ | 52,998 | ||||
Income tax expense | 18,005 | 18,204 | ||||||
Interest expense, net | 19,634 | 14,048 | ||||||
Depreciation and amortization | 51,790 | 49,268 | ||||||
EBITDA | 131,484 | 134,518 | ||||||
Other pension cost (benefit) | 118 | (117) | ||||||
Business process improvement costs | 1,241 | 891 | ||||||
Plant closure costs and impairment of assets | — | 7,397 | ||||||
Restructuring charges | 1,652 | 573 | ||||||
Restructuring-related implementation costs | 8,227 | 4,288 | ||||||
Acquisition and integration-related costs | 1,897 | 13,764 | ||||||
Legal settlements and related costs | 14,400 | 697 | ||||||
Adjusted EBITDA | $ | 159,019 | $ | 162,011 | ||||
Net sales | $ | 1,571,577 | $ | 1,554,230 | ||||
Adjusted EBITDA margin | 10.1 | % | 10.4 | % | ||||
Reconciliation of Income Tax Expense to Adjusted Income Tax | ||||||||
For the 16-Week Period Ended | For the 16-Week Period Ended | |||||||
April 25, 2026 | April 19, 2025 | |||||||
Income tax expense | $ | 18,005 | $ | 18,204 | ||||
Tax impact of: | ||||||||
Business process improvement costs | 310 | 223 | ||||||
Plant closure costs and impairment of assets | — | 1,850 | ||||||
Restructuring charges | 413 | 144 | ||||||
Restructuring-related implementation costs | 2,057 | 1,072 | ||||||
Acquisition and integration-related costs | 2,214 | (a) | 3,439 | |||||
Legal settlements and related costs | 3,600 | 174 | ||||||
Adjusted income tax expense | $ | 26,599 | $ | 25,106 | ||||
(a) Includes certain deductible tax acquisition-related costs from the prior period. | ||||||||
Flowers Foods, Inc. Reconciliation of GAAP to Non-GAAP Measures (000's omitted, except per share data) | ||||||||
Reconciliation of Net Income to Adjusted Net Income | ||||||||
For the 16-Week | For the 16-Week | |||||||
April 25, 2026 | April 19, 2025 | |||||||
Net income | $ | 42,055 | $ | 52,998 | ||||
Business process improvement costs | 931 | 668 | ||||||
Plant closure costs and impairment of assets | — | 5,547 | ||||||
Restructuring charges | 1,239 | 429 | ||||||
Restructuring-related implementation costs | 6,170 | 3,216 | ||||||
Acquisition and integration-related costs | (317) | (a) | 10,325 | |||||
Legal settlements and related costs | 10,800 | 523 | ||||||
Adjusted net income | $ | 60,878 | $ | 73,706 | ||||
(a) Includes certain deductible tax acquisition-related costs from the prior period. | ||||||||
Reconciliation of Earnings per Share - | ||||||||
Range Estimate | ||||||||
Net income per diluted common share | $ | 0.71 | to | $ | 0.81 | |||
Business process improvement costs | NM | NM | ||||||
Restructuring charges | 0.01 | 0.01 | ||||||
Restructuring-related implementation costs | 0.03 | 0.03 | ||||||
Acquisition and integration-related costs | NM | NM | ||||||
Legal settlements and related costs | 0.05 | 0.05 | ||||||
Adjusted net income per diluted common share | $ | 0.80 | to | $ | 0.90 | |||
NM - not meaningful. | ||||||||
Certain amounts may not add due to rounding. | ||||||||
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SOURCE Flowers Foods, Inc.