Flowers Foods: 2Q Earnings Snapshot
THOMASVILLE, Ga. (AP) _ Flowers Foods Inc. (FLO) on Wednesday reported second-quarter profit of $45.4 million.
The Thomasville, Georgia-based company said it had profit of 21 cents per share. Earnings, adjusted for non-recurring costs, came to 25 cents per share.
The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 28 cents per share.
The bakery goods company posted revenue of $941.3 million in the period, surpassing Street forecasts. Three analysts surveyed by Zacks expected $937.1 million.
Flowers Foods expects full-year earnings in the range of $1 to $1.07 per share, with revenue in the range of $3.92 billion to $3.98 billion.
Flowers Foods shares have increased nearly 4 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $20.07, an increase of 15 percent in the last 12 months.