Flowers Foods: 4Q Earnings Snapshot
THOMASVILLE, Ga. (AP) _ Flowers Foods Inc. (FLO) on Wednesday reported fourth-quarter net income of $20.8 million.
On a per-share basis, the Thomasville, Georgia-based company said it had profit of 10 cents. Earnings, adjusted for restructuring costs and costs related to mergers and acquisitions, came to 16 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 15 cents per share.
The bakery goods company posted revenue of $880.7 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $866.7 million.
For the year, the company reported profit of $157.2 million, or 74 cents per share. Revenue was reported as $3.95 billion.
Flowers Foods expects full-year earnings to be 94 cents to $1.02 per share, with revenue in the range of $4.03 billion to $4.11 billion.
Flowers Foods shares have climbed nearly 8 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $19.89, an increase of 5 percent in the last 12 months.