$FLO (Flowers Foods, Inc.)

$FLO {{ '2016-05-19T11:24:19+0000' | timeago}} • Announcement

Packaged foods maker $FLO posted lower 1Q16 results, hurt by higher expenses. $FLO said net income fell 3.3% to $59.36MM, or $0.28 per share from $61.4MM, or 0.29 per share a year ago. Revenue rose 5.09% to $1.20Bil, helped by acquisitions of Dave's Killer Bread and Alpine Valley Bread contributing 5.3% to the overall sales increase.

$FLO {{ '2017-09-27T22:53:19+0000' | timeago}} • Announcement

$FLO maintains its EBITDA margin goal for FY18 of 12-13%. The company is targeting long-term sales growth of 3-4%. $FLO remains confident in its target of realizing 250BP of EBITDA margin expansion by FY21, and expects EPS growth over the long-term in the range of 8-10%.

$FLO {{ '2017-09-27T22:53:02+0000' | timeago}} • Announcement

$FLO provided its 2017 outlook of sales flat to down 1%, EPS of $0.67-0.69 and adjusted EPS of $0.85-0.90. The company also detailed gross savings targets relative to FY16 of $25-30MM for FY17 and $70-80MM for FY18 from PG&S, SCO, and other cost saving initiatives. The company anticipates input cost inflation of $30-40MM for 2018.

$FLO {{ '2017-09-27T15:25:10+0000' | timeago}} • Announcement

$FLO, producer of packaged bakery foods, has appointed Debo Mukherjee to the newly created role of Chief Marketing Officer, effective Oct 2, 2017. He will lead Flowers' marketing and branding initiatives and play a key role in product innovation.

$FLO {{ '2017-09-25T14:24:45+0000' | timeago}} • Announcement

$FLO appoints Harish Ramani as its senior vice president and chief information officer. In this new role, Ramani will be responsible for the company's information technology operations. Prior to this, he served as the global CIO and senior vice president of ARYZTA plc.

$FLO {{ '2017-07-28T19:49:49+0000' | timeago}} • Announcement

$FLO promoted J.T. Rieck, VP of investor relations and financial analysis, to the additional role of treasurer. In this role, Rieck oversees $FLO's banking and credit agency relations, cash management and forecasting, treasury policies, capital structure, and strategic research, while continuing his investor relations and financial analysis duties.

$FLO {{ '2017-05-18T14:40:14+0000' | timeago}} • Webcast

$FLO now sees FY17 capex to be $95-105MM, an effective tax rate of about 35.5%, and net interest expense of $17-18MM. Depreciation & amortization expense is expected to be in the range of $145-150MM for the year.

$FLO {{ '2017-05-18T14:14:50+0000' | timeago}} • Webcast

For FY19 and beyond, $FLO sees sales growing at 3-4% range, with EBITDA margins of 13-14%. For FY18, EBITDA margin is predicted to be 12-13%. Flowers Foods said it is targeting at least 250 basis point lift in EBITDA margin by FY21, as it announced its 1Q17 results.

$FLO {{ '2017-05-17T21:15:11+0000' | timeago}} • Announcement

$FLO now expects FY17 sales to trend to the lower end of its prior range of $3.927-4.006Bil, representing growth of about 0.0-2.0%. The company now predicts adjusted EPS to be in the middle of its prior range of $0.85-0.95. Adjusted EPS forecast excludes sale of Cedar Rapids, Iowa mix plant and costs associated with Project Centennial.

$FLO {{ '2017-05-17T21:12:00+0000' | timeago}} • Announcement

$FLO reported a rise in 1Q17 earnings driven by gain on divestiture. Net income rose to $60.42MM or $0.29 per share from $59.36MM or $0.28 per share last year. Sales slid to $1.19Bil from $1.20Bil, on softness in the fresh bread category, competitive marketplace and divestiture of mix manufacturing business. Adjusted EPS fell to $0.25 from $0.28.

$FLO {{ '2017-05-04T18:17:13+0000' | timeago}} • Announcement

$FLO said Steve Kinsey, currently EVP and CFO, will be Chief Financial & Administrative Officer. Tonja Taylor, currently SVP of Human Resources, will be Chief Human Resources Officer. The position of Chief Marketing Officer is currently being recruited.

$FLO {{ '2017-05-04T18:15:43+0000' | timeago}} • Announcement

$FLO announced an enhanced organizational structure. The new organizational structure establishes two business units (BUs), Fresh Bakery and Specialty/Snacking, and realigns key leadership roles. The company will transition to the new structure over the next several months with full implementation expected during FY18.

$FLO {{ '2017-05-04T18:15:12+0000' | timeago}} • Announcement

$FLO announced an enhanced organizational structure designed to provide greater focus on the company's strategic objectives under Project Centennial, emphasize brand growth and innovation in line with a national branded food company, drive enhanced accountability, reduce costs, and strengthen long-term strategy.

$FLO {{ '2017-02-14T14:44:52+0000' | timeago}} • Webcast

$FLO anticipates at least $45MM in savings opportunity from the Project Centennial. The company said a portion of the savings will be realized in second half of 2017, and the most will be realized in 2018.

$FLO {{ '2017-02-14T14:28:00+0000' | timeago}} • Webcast

$FLO said a great deal of work will be done in 2017 to reduce complexity and strengthen capabilities. The company expects to realize net benefits from these actions in fiscal 2018.

$FLO {{ '2017-02-14T13:59:03+0000' | timeago}} • Webcast

$FLO said it took findings from diagnostic phase of Project Centennial, crafted strategic initiatives, and took initial steps to set these initiatives in motion during 4Q16. The company also reduced costs during the quarter by trimming overtime hours, spending less on supplies and travel, and increasing bakery throughput.

$FLO {{ '2017-02-13T22:59:44+0000' | timeago}} • Announcement

$FLO is targeting at least 250BP of net EBITDA margin improvement by FY21, and expects to achieve run rate cost reductions of at least $45MM by FY18. During the phase of Project Centennial, $FLO expects sales growth to be flat to 2%, and EBITDA margins to be 12-13%.

$FLO {{ '2017-02-13T22:56:59+0000' | timeago}} • Announcement

For 2017, $FLO expects sales of $3.927-4.006Bil, representing growth of approx. 0-2%. Adjusted diluted EPS is expected to be $0.85-0.95, excluding a gain on the sale of the Cedar Rapids, Iowa mix plant of about $0.09-0.10 per share, and costs associated with Project Centennial of about $0.07-0.09 per share.

$FLO {{ '2017-02-13T22:54:14+0000' | timeago}} • Announcement

$FLO's Direct-Store-Delivery (DSD) segment sales for 4Q16 were $730.5MM, an increase of 2.2% compared to 4Q15. Warehouse segment sales were $138.2MM, a decrease of 3.6% compared to the prior year period.

$FLO {{ '2017-02-13T22:50:04+0000' | timeago}} • Announcement

$FLO reported a decline in 4Q16 earnings, driven primarily by higher asset impairments, a legal settlement, and higher workforce-related and consulting costs.  Net income was $13MM or $0.06 per share, down 60% compared to 4Q15. Consolidated sales were $868.7MM, an increase of 1.2% compared to last year.

$FLO {{ '2016-12-23T12:59:48+0000' | timeago}} • Announcement

$FLO said its EVP and CFO R. Steve Kinsey exercised his stock options for 113,400 shares and consequently increased his direct ownership from 225,305 shares of common stock to 248,803 shares.

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