Packaged bakery food company Flower Foods (NYSE: FLO) will be reporting results this Friday before market hours. Here’s what you need to know.
Flowers Foods missed analysts’ revenue expectations by 2.7% last quarter, reporting revenues of $1.55 billion, down 1.4% year on year. It was a softer quarter for the company, with a miss of analysts’ EBITDA estimates and a significant miss of analysts’ EPS estimates.
Is Flowers Foods a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Flowers Foods’s revenue to grow 3.5% year on year to $1.27 billion, improving from its flat revenue in the same quarter last year. Adjusted earnings are expected to come in at $0.29 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Flowers Foods has missed Wall Street’s revenue estimates six times over the last two years.
Looking at Flowers Foods’s peers in the perishable food segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Vital Farms delivered year-on-year revenue growth of 25.4%, beating analysts’ expectations by 8%, and Fresh Del Monte Produce reported revenues up 3.8%, topping estimates by 2.2%. Vital Farms traded up 21.8% following the results while Fresh Del Monte Produce was also up 4.2%.
Read our full analysis of Vital Farms’s results here and Fresh Del Monte Produce’s results here.
There has been positive sentiment among investors in the perishable food segment, with share prices up 5.8% on average over the last month. Flowers Foods is up 9% during the same time and is heading into earnings with an average analyst price target of $18.13 (compared to the current share price of $16.76).
Unless you’ve been living under a rock, it should be obvious by now that generative AI is going to have a huge impact on how large corporations do business. While Nvidia and AMD are trading close to all-time highs, we prefer a lesser-known (but still profitable) semiconductor stock benefiting from the rise of AI. Click here to access our free report on our favorite semiconductor growth story.
StockStory is growing and hiring equity analyst and marketing roles. Are you a 0 to 1 builder passionate about the markets and AI? See the open roles here.
