Flowers Foods: 3Q Earnings Snapshot
THOMASVILLE, Ga. (AP) _ Flowers Foods Inc. (FLO) on Wednesday reported third-quarter net income of $39.6 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Thomasville, Georgia-based company said it had net income of 19 cents. Earnings, adjusted for non-recurring costs, were 23 cents per share.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 26 cents per share.
The bakery goods company posted revenue of $923.4 million in the period, also falling short of Street forecasts. Three analysts surveyed by Zacks expected $929.2 million.
Flowers Foods expects full-year earnings in the range of 90 cents to 95 cents per share, with revenue in the range of $3.92 billion to $3.98 billion.
Flowers Foods shares have dropped almost 1 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $19.19, a climb of 7 percent in the last 12 months.