Flowers Foods, Inc. (NYSE: FLO) today reported financial results for the company’s 16-week first quarter ended April 19, 2025.
First Quarter Summary:
Compared to the prior year first quarter where applicable
- Net sales(1) decreased 1.4% to $1.554 billion as the Simple Mills acquisition benefit was more than offset by pricing/mix and volume declines.
- Net income decreased 27.4% to $53.0 million, representing 3.4% of sales, a 120-basis point decrease, primarily due to reduced sales, higher SD&A expense, and higher interest expense, partly offset by moderating ingredient costs. Adjusted net income(2) decreased 8.2% to $73.7 million.
- Adjusted EBITDA(2) increased 1.6% to $162.0 million, representing 10.4% of net sales, a 30-basis point increase.
- Diluted EPS decreased $0.09 to $0.25. Adjusted diluted EPS(2) decreased $0.03 to $0.35.
- Completed acquisition of Simple Mills, which contributed $24.3 million in net sales, net loss of $4.2 million, $3.6 million to adjusted EBITDA(2), and ($0.02) diluted EPS(2).
Chairman and CEO Remarks:
“Despite economic uncertainty and greater than expected category declines in the first quarter, Flowers’ performance underscores the importance of our leading brands, each of which maintained or gained unit and dollar share,” said Ryals McMullian, chairman and CEO of Flowers Foods. “To mitigate category weakness, we are continuing to invest in on-trend innovation and targeting significant opportunities in faster-growing categories and adjacencies. The expansion of Dave’s Killer Bread into the snacking category and the acquisition of Simple Mills, in combination with new product introductions like Nature’s Own Keto in our core bread markets, exemplify our alignment with consumers’ growing demand for differentiated, better-for-you products, and we remain excited about their continued growth potential.
“Our adjusted 2025 financial guidance reflects our first quarter performance, the challenging consumer environment, and potential for increased tariff costs. To improve our near-term results, we are gaining additional shelf space, winning new business, and taking other proactive measures, while evolving our business to enable long-term outperformance. Our talented team and leading brands give me great confidence that we can drive shareholder value and deliver results consistent with our long-term financial targets.”
About Flowers Foods
Headquartered in Thomasville, Ga., Flowers Foods, Inc. (NYSE: FLO) is one of the largest producers of packaged bakery foods in the United States with 2024 net sales of $5.1 billion. Flowers operates bakeries across the country that produce a wide range of bakery products. Among the company’s top brands are Nature’s Own, Dave’s Killer Bread, Canyon Bakehouse, Simple Mills, Wonder, and Tastykake. Learn more at www.flowersfoods.com.
Investor Contact: Eric Jacobson, InvestorRelations@flocorp.com
Media Contact: flowersfoods.com/contact