Flowers Foods Q4 Profit Down

(RTTNews) - Flowers Foods, Inc. (FLO), Thursday reported fourth-quarter net income of $39.3 million or $0.18 per share, down from $55.8 million or $0.26 per share last year.

Adjusted earnings for the quarter was $0.20 per share, compared to $0.28 per share last year.

Sales for the fourth quarter was $983.5 million, down 3.9% from $1.02 billion last year.

Analysts polled by Thomson Reuters expected earnings of $0.21 per share on revenues of $991.1 million for the quarter.

Looking forward to the fiscal year 2022, the company expects sales of about $4.660 billion to $4.695 billion and adjusted earnings of about $1.25 to $1.35 per share. Analysts currently estimate earnings of $1.27 per share on revenues of $4.42 billion.