Flowers Foods Inc
FLO
$11.88 -0.42%
Exchange: NYSE | Sector: Consumer Defensive | Industry: Packaged Foods
Q1 2024
Published: May 16, 2024

Earnings Highlights

  • Revenue of $1.58B up 2.8% year-over-year
  • EPS of $0.34 increased by 6.1% from previous year
  • Gross margin of 49.4%
  • Net income of 73.04M
  • "“We continue to expand our margins in our away-from-home and private label businesses.”" - Ryals McMullian

Flowers Foods Inc (FLO) Q1 2024 Financial Results: Signs of Robust Growth Amidst Economic Challenges

Executive Summary

Flowers Foods Inc (FLO) delivered strong financial results for the first quarter of 2024, characterized by a notable recovery in branded retail volumes and improvements in profitability metrics. The company reported revenues of $1.57 billion, an increase of 2.76% year over year, and a substantial 39.66% improvement compared to the previous quarter. Management credits strategic investments in marketing, innovation, and operational efficiencies for this growth trajectory. Dave’s Killer Bread continued to lead the brand portfolio with a remarkable 10% unit growth, indicating not only strong brand loyalty but also a shift back towards premium products among consumers as economic conditions improve. Management remains cautious but optimistic about the future due to current economic uncertainties and evolving consumer behavior.

Key Performance Indicators

Revenue

1.58B
QoQ: 39.66% | YoY:2.76%

Gross Profit

779.63M
49.44% margin
QoQ: 44.03% | YoY:6.27%

Operating Income

101.55M
QoQ: 103.52% | YoY:8.30%

Net Income

73.04M
QoQ: 104.74% | YoY:3.30%

EPS

0.35
QoQ: 105.88% | YoY:6.06%

Revenue Trend

Margin Analysis

Key Insights

  • **Revenue:** $1.576 billion (YoY: +2.76%, QoQ: +39.66%)
  • **Gross Profit:** $779.6 million (YoY: +6.27%, QoQ: +44.03%)
  • **Operating Income:** $101.5 million (YoY: +8.30%, QoQ: +103.52%)
  • **Net Income:** $73.0 million (YoY: +3.30%, QoQ: +104.74%)
  • **EPS:** $0.35 (YoY: +6.06%, QoQ: +105.88%)

Historical Earnings Comparison

PeriodRevenue ($M)EPS ($)YoY GrowthReport
Q1 2025 1,554.23 0.25 -1.4% View
Q4 2024 1,111.13 0.20 -1.6% View
Q3 2024 1,190.56 0.31 -0.7% View
Q2 2024 1,224.98 0.32 -0.3% View
Q1 2024 1,576.82 0.34 +2.8% View