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NEW YORK - Flowers Foods , Inc. (NYSE:FLO) reported fourth quarter earnings that surpassed analyst expectations, while revenue fell short of estimates.
The company also provided guidance for fiscal year 2025.
Flowers Foods reported adjusted earnings per share of $0.22 for the fourth quarter, beating the analyst consensus of $0.21. However, revenue came in at $1.11 billion, below the $1.13 billion analysts had forecast.
Net sales decreased 1.6% YoY as positive pricing/mix was more than offset by volume declines.
For the full fiscal year 2024, net sales increased 0.2% to $5.103 billion. Adjusted EBITDA rose 7.3% to $538.5 million, representing 10.6% of net sales.
"Flowers’ strong execution of our portfolio strategy and cost savings initiatives drove fourth quarter and full year 2024 adjusted EPS growth in a difficult economic environment," said Ryals McMullian, chairman and CEO of Flowers Foods.
Looking ahead, the company expects fiscal 2025 net sales of $5.403 billion to $5.487 billion, representing 5.9% to 7.5% growth compared to the prior year. Adjusted diluted EPS is forecast in the range of $1.11 to $1.24.
The company noted that first-half 2025 results are expected to benefit from new business wins and savings initiatives, while the back half outlook incorporates commodity cost headwinds and challenging category trends.
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