flowers foods inc (FLO) Key Developments
Flowers Foods, Inc. Reports Consolidated Earnings Results for the First Quarter Ended April 25, 2015; Provides Earnings Guidance for the Year 2015
May 28 15
Flowers Foods, Inc. reported consolidated earnings results for the first quarter ended April 25, 2015. For the quarter, the company reported sales of $1,146,045,000 compared to $1,153,917,000 a year ago. Income from operations (EBIT) was $96,538,000 compared to $98,201,000 a year ago. Income before income taxes (EBT) was $94,956,000 compared to $95,029,000 a year ago. Net income was $61,389,000 or $0.29 per diluted share compared to $61,066,000 or $0.29 per diluted share a year ago. EBITDA was $136,355,000 compared to $137,493,000 a year ago. Net cash provided by operating activities was $118,423,000 and purchase of property, plant and equipment was $19,983,000.
The company continues to expect 52-week fiscal 2015 sales of $3.786 billion to $3.861 billion and earnings per share of $0.96 to $1.01. Capital expenditures are anticipated to be in the range of $85.0 to $95.0 million.
Investors Reportedly Mulls Acquisition Of Hostess Brands
May 28 15
Post Holdings, Inc. (NYSE:POST) reportedly is seeking acquisition of Hostess Brands, LLC from Apollo Global Management, LLC and C. Dean Metropoulos & Co. “Post Holdings is among several bidders seeking to acquire Hostess Brands Inc. for roughly $2 billion,” a source close to the situation told the New York Post. Other reported bidders include Grupo Bimbo, S.A.B. de C.V. (BMV:BIMBO A), Flowers Foods, Inc. (NYSE:FLO)and ARYZTA AG (SWX:ARYN), the sources told the newspaper. Representatives from Post Holdings, Flowers Foods and Grupo Bimbo didn't respond with comments for the newspaper's report.
Flowers Foods Mulls Acquisitions
Apr 16 15
Flowers Foods, Inc. (NYSE:FLO) may look at acquisition opportunities. Allen L. Shiver, President and Chief Executive Officer of the company said: “Flowers Foods has an operating strategy that works. By focusing on the fundamentals of our business-fresh products, excellent customer service, efficient bakeries, attention to consumer trends, and making strategic acquisitions-we believe the company is well-positioned for continued growth over the long-term.”
Flowers Baking Co. to Begin Production at Bakery in Lenexa
Apr 14 15
Flowers Baking Co. has announced that it will begin production at a bakery in Lenexa this summer. The bakery was acquired by Flowers Foods in July 2013 and has been undergoing an extensive modernization project at an estimated cost of more than $10 million.
Flowers Foods Expands Operations at Ensley Facility
Mar 17 15
Flowers Foods has renewed its lease at its Ensley distribution warehouse and has expanded its Birmingham footprint. The company recently renegotiated its lease which was 27,400 square feet at the 2700 Republic Blvd. flex space building in Ensley. The lease now encompasses 39,200 square feet for the distribution center, which covers the state of Alabama.