Flowers Foods reports Q3 adjusted EPS 29c, consensus 28c

Reports Q3 revenue $1.2B, consensus $1.21B. “We are pleased to have delivered another quarter with record sales, where we maintained unit share in a challenging environment,” said Ryals McMullian, chairman and CEO of Flowers Foods. “Our pricing strategy proved effective, helping to mitigate inflation and drive top line results. Volume trends improved sequentially, reflecting strong branded retail performance and the diminished impact of business rationalizations. We continued to invest in areas that we expect to drive future growth, including our team, bakeries, brand marketing, and digital initiatives. “Our diverse product portfolio is well-positioned to meet an increasingly value-focused consumer. We also are investing in innovation to introduce additional differentiated products across the price spectrum, and increasing marketing efforts to aid awareness. Nature’s Own Keto loaf and healthier snacking options from Dave’s Killer Bread are recent examples that are helping to maintain our strong momentum into the fourth quarter and expand our market potential. We remain focused on maximizing our near-term results while enabling future growth in line with our long-term financial targets.”