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How Did Flowers Foods Perform in 3Q16?

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Nov. 11 2016, Updated 11:04 a.m. ET

Price movement

Flowers Foods (FLO) has a market cap of $3.3 billion. It rose 1.4% to close at $15.87 per share on November 9, 2016. The stock’s weekly, monthly, and year-to-date (or YTD) price movements were 4.1%, 5.5%, and -26.2%, respectively, on the same day. FLO is trading 3.4% above its 20-day moving average, 4.4% above its 50-day moving average, and 7.7% below its 200-day moving average.

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Related ETF and peers

The Vanguard S&P Mid-Cap 400 Growth ETF (IVOG) invests 0.49% of its holdings in Flowers Foods. The ETF tracks a market-cap-weighted index of growth companies culled from the S&P 400. The YTD price movement of IVOG was 7.1% on November 9. The market caps of Flowers Foods’ competitors are as follows:

  • Campbell Soup (CPB) — $17.0 billion
  • Panera Bread (PNRA) — $4.6 billion

Performance of Flowers Foods in fiscal 3Q16

Flowers Foods reported fiscal 3Q16 sales of $918.8 million, a rise of 3.8% over the sales of $885.3 million in fiscal 3Q15. The higher sales are a result of acquisitions, a rise in the price-to-mix ratio, and a fall in volume. Sales from direct store delivery and warehouse delivery rose 3.0% and 7.8%, respectively, between fiscal 3Q15 and fiscal 3Q16. It reported a pension plans settlement loss of $1.8 million in fiscal 3Q16. The company’s income from operations narrowed by 70 basis points.

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Its net income and EPS (earnings per share) fell to $40.2 million and $0.19, respectively, in fiscal 3Q16, compared with $43.8 million and $0.21 in fiscal 3Q15. It reported adjusted EBITDA (earnings before interest, tax, depreciation, and amortization) and adjusted EPS of $101.7 million and $0.21, respectively, in fiscal 3Q16, a fall of 3.0% and 8.7% from fiscal 3Q15.

Projections

The company has made the following projections for fiscal 2016:

  • sales of $3.93 billion to $3.99 billion
  • EPS of $0.88 to $0.93
  • adjusted EPS of $0.90 to $0.95

Next, we’ll discuss WhiteWave Foods (WWAV).

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