Welcome to our dedicated page for Flowers Foods news (Ticker: FLO), a resource for investors and traders seeking the latest updates and insights on Flowers Foods stock.
Flowers Foods, Inc. (NYSE: FLO), headquartered in Thomasville, Georgia, is a leading producer and marketer of packaged bakery goods in the United States. With 2023 sales totaling $5.1 billion, Flowers Foods operates numerous bakeries across the country that deliver an extensive range of bakery products, including fresh breads, buns, rolls, snack cakes, pastries, and tortillas. The company's products are distributed to retail and foodservice customers nationwide, making them widely accessible through supermarkets, convenience stores, and restaurants.
Flowers Foods boasts an impressive portfolio of top brands, including Nature's Own, Wonder, Dave's Killer Bread, Tastykake, Cobblestone Bread, Canyon Bakehouse, and Mrs. Freshley's. Additionally, the company markets popular regional brands such as Merita, Home Pride, Butternut, and Evangeline Maid. Flowers Foods' products are well-loved for their quality and taste, catering to a diverse consumer base.
In 2023, Flowers Foods recorded outstanding financial performance, driven by the effectiveness of its brand portfolio strategy and strong operational execution. The company's flagship brand, Dave's Killer Bread, achieved a milestone with record retail sales of $1 billion. Flowers Foods continually seeks to innovate, introducing new products to expand its market presence. Recent examples include the launch of Nature's Own Keto loaf and Dave's Killer Bread Snack Bars, which have been well-received by consumers.
Flowers Foods is committed to enhancing productivity and efficiency through various initiatives, including the deployment of an upgraded enterprise resource planning (ERP) system and other digital advancements. These efforts aim to streamline operations, reduce costs, and ultimately boost margins. The company also focuses on corporate responsibility and sustainability, working to achieve its environmental, social, and governance (ESG) goals.
Key financial highlights for fiscal 2023 include cash flow from operating activities of $349.4 million, capital expenditures of $129.1 million, and dividends paid to shareholders totaling $195.2 million. Flowers Foods' strong financial position allows it to invest in growth opportunities while delivering value to its shareholders.
Flowers Foods remains dedicated to innovation, marketing, and expanding its distribution network. The company has recently collaborated with Victory Brewing Company to create the Tastykake Koffee Kake Ale, a unique product that combines the flavors of Tastykake's Koffee Kake Cupcake with a sweet ale, available in select retailers. This collaboration exemplifies Flowers Foods' commitment to creativity and expanding its brand reach.
Looking ahead, Flowers Foods maintains a positive outlook for 2024, anticipating benefits from moderating commodity costs, positive pricing actions, and ongoing savings initiatives. The company is focused on maximizing shareholder value and driving results in line with its long-term financial targets.
Flowers Foods will announce its first quarter 2021 financial results on May 20, 2021, after market close. This event will be followed by a live Q&A webcast on May 21, 2021, at 8:30 a.m. Eastern. Flowers Foods is a leading U.S. packaged bakery producer, reporting $4.4 billion in sales for 2020. Their well-known brands include Nature's Own, Dave’s Killer Bread, and Wonder. Investors can access the webcast and related materials on the company's investor relations website.
Ibotta, a leading rewards platform, has partnered with Nature's Own on April 12, 2021, to celebrate National Grilled Cheese Sandwich Day. For one day only, Ibotta Savers can receive a free loaf of Nature's Own bread and a $0.25 discount on cheese. Users need to download the Ibotta app, add the offers, and upload their purchase receipts to get cash back. Ibotta has delivered nearly $900 million in rewards since its launch in 2012 and has over 40 million downloads. Nature's Own is owned by Flowers Foods (NYSE: FLO), known for its quality and healthy bread options.
Flowers Foods, Inc. (NYSE: FLO) announced a public offering of $500 million in senior notes with a 2.400% interest rate due in 2031. The offering is expected to close on March 9, 2021. Proceeds will be used to redeem $400 million of existing 4.375% senior notes due 2022, with the remainder allocated for general corporate purposes. Deutsche Bank and BofA Securities are leading the offering, which is filed under an automatic shelf registration with the SEC.
Flowers Foods (NYSE: FLO) announced a quarterly dividend of $0.20 per share, reflecting a 5.3% increase from the previous year. This marks the 74th consecutive quarterly dividend the company has paid. The dividend is set to be paid on March 19, 2021, to shareholders on record as of March 5, 2021. Flowers, a leading bakery products producer in the U.S., reported $4.4 billion in sales for 2020, emphasizing its strong market presence and commitment to returning value to shareholders.
Flowers Foods (NYSE: FLO) reported its financial results for the 53-week fiscal 2020, ending January 2, 2021. Total sales increased by 6.4% to $4.388 billion, driven by an additional week contributing 1.8%. Net income decreased 7.4% to $152.3 million, while adjusted net income rose 36.1% to $278.0 million. For Q4 alone, sales surged 11.5% to $1.023 billion, with adjusted EBITDA climbing 34.3% to $113.5 million. For fiscal 2021, FLO anticipates sales between $4.212 billion and $4.300 billion, reflecting a projected decrease.
Flowers Foods (NYSE: FLO) will report its fourth quarter and full year 2020 financial results on February 11, 2021 after market close. The company will provide a press release, pre-recorded management remarks, and supporting slides during this announcement. Following this, a live Q&A webcast is scheduled for February 12, 2021 at 8:30 a.m. Eastern which will last approximately 30 minutes. Details for accessing the webcast and additional materials will be available at www.flowersfoods.com/investors.
Flowers Foods announces the promotion of Heeth Varnedoe to Chief Transformation Officer (CTO), effective January 4, 2021. The new role will focus on implementing cross-functional initiatives to advance the company's strategic plans, particularly its digital and enterprise resource planning efforts. Varnedoe has been with Flowers since 1990, holding various management positions, and is expected to enhance transparency and collaboration, ensuring initiatives meet operational and financial goals. In 2019, Flowers Foods reported sales of $4.1 billion, making it one of the largest producers in the U.S.
Flowers Foods, Inc. (NYSE: FLO) has amended its December 2, 2020, press release regarding a voluntary recall of Canyon Bakehouse products. The recall affects Canyon Bakehouse Everything Bagels and Mountain White Bread due to potential gluten contamination. This poses risks for individuals with wheat allergies or celiac disease. The affected products were distributed across 13 states, including Arkansas and Texas. While no illnesses have been reported, consumers are advised to discard the affected products or return them for a refund. More information is available through Flowers' Consumer Relations Center.
Flowers Foods, Inc. (NYSE: FLO) is recalling Canyon Bakehouse Mountain White Bread and Everything Bagels due to potential gluten contamination. This recall affects products distributed in 14 states, including Arkansas, Colorado, and Texas. Although no illnesses have been reported, consumers with wheat allergies or celiac disease are advised against consumption. Affected items have specific UPC and Lot Numbers, and consumers should return them for a full refund or discard them. The company generated $4.1 billion in sales in 2019, continuing to be a leading bakery producer in the U.S.
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