Flowers Foods Reports Strong Financial Growth

By Bobby Samwell • Friday, February 07 15:22 • Permanent Link

Flowers Foods, Inc. (NYSE: FLO) has reported its financial results for the fourth quarter and full year 2024, ended December 28, 2024. Here are the key highlights from the report:

Fourth Quarter 2024: Net sales decreased by 1.6% to $1.111 billion due to volume declines, despite positive pricing/mix. Net income increased by 20.9% to $43.1 million, representing 3.9% of sales, a 70-basis point increase. Adjusted EBITDA increased by 6.3% to $102.4 million, representing 9.2% of net sales, a 70-basis point increase. Diluted EPS increased by $0.03 to $0.20, while adjusted diluted EPS increased by $0.02 to $0.22.

Full Year 2024: Net sales increased by 0.2% to $5.103 billion, driven by positive pricing/mix and the Papa Pita acquisition, which offset volume declines. Net income increased by 101% to $248.1 million, representing 4.9% of sales, a 250-basis point increase. Adjusted EBITDA increased by 7.3% to $538.5 million, representing 10.6% of net sales, a 70-basis point increase. Diluted EPS increased by $0.59 to $1.17, while adjusted diluted EPS increased by $0.08 to $1.28.

Outlook for Fiscal 2025: The company expects net sales of approximately $5.403 billion to $5.487 billion, representing 5.9% to 7.5% growth compared to the prior year. Adjusted EBITDA for fiscal 2025 is projected to be in the range of approximately $560 million to $591 million. * Adjusted diluted EPS for fiscal 2025 is expected to be in the range of approximately $1.11 to $1.24.

Other Highlights: Cash flow from operating activities for fiscal 2024 increased by $63.3 million to $412.7 million. Capital expenditures for fiscal 2024 increased by $3.0 million to $132.1 million. Dividends paid to shareholders for fiscal 2024 increased by $7.8 million to $203.0 million. Cash and cash equivalents were $5.0 million at the end of fiscal 2024.

Flowers Foods' Chairman and CEO, Ryals McMullian, expressed optimism about the company's continued strong execution in a challenging economic environment for 2025. The company also announced the pending acquisition of Simple Mills, which is expected to contribute to future growth.

Following these announcements, the company's shares moved -1.8%, and are now trading at a price of $18.98. For more information, read the company's full 8-K submission here.

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