Flowers Foods reports Q3 adjusted EPS 33c, consensus 29c

Reports Q3 revenue $1.191B, consensus $1.2B. “Strong performance by our leading brands and successful execution of our cost initiatives and portfolio strategy drove better-than-expected earnings in the Q3,” said Ryals McMullian, chairman and CEO of Flowers Foods (FLO). “We handily outpaced the bread category, growing tracked channel sales in both units and dollars. Those results were achieved despite headwinds from a pressured consumer, which also particularly impacted our sweet baked goods and fast food businesses. Additionally, implementation of our portfolio strategy enhanced performance in our away-from-home business, improving profitability of existing business and adding higher margin new accounts.”