$FLO (Flowers Foods, Inc.)

$FLO {{ '2016-08-11T06:29:08+0000' | timeago}} • Announcement

$FLO has repurchased about 6.9MM shares YTD. Currently, 6.8MM shares remain on company's repurchase authorization. Since beginning of FY16, through both dividends and share repurchases, $FLO has returned $191MM to shareholders.

$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.

$FLO {{ '2016-12-20T14:59:47+0000' | timeago}} • Announcement

AB Mauri North America agreed to buy the business and assets of Specialty Blending Co., a bread and sweet goods mix manufacturer located in Cedar Rapids, Iowa, and a subsidiary of $FLO. The transaction is expected to close in 1Q17. Financial terms are not disclosed.

$FLO {{ '2016-12-19T11:38:43+0000' | timeago}} • Announcement

$FLO said CEO Allen Shiver and Keith Wheeler, president of Flowers Bakeries, exercised stock options this week. Shiver exercised stock options for 152,100 shares and consequently lifted his direct ownership to 685,086 shares. Wheeler exercised stock options for 11,475 shares and consequently lifted his direct ownership to 15,758 shares.

$FLO {{ '2016-11-17T17:02:26+0000' | timeago}} • Announcement

$FLO said COO Bradley Alexander has exercised stock options for 88,200 shares. And consequently increased his direct ownership from 212,485 shares of its common stock to 230,835 shares, which is well in excess of stock ownership guidelines. Alexander sold shares of $FLO common stock obtained through this option exercise in the open market.

$FLO {{ '2016-11-10T14:21:21+0000' | timeago}} • Webcast

With respect to workforce, $FLO anticipates to see the traditional low single-digit increase in overall workforce costs for 2017.

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