Flowers Foods Down 7.54% To $20.48 After Earnings Beat

Flowers Foods (FLO) said after close Thursday that it earned $0.29 per share in quarter three 2023. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.

On the revenue line, the company reported $1.2 billion, missing estimates by $11 million.

In the same quarter a year ago, the company earned $0.3 per share on revenue of $1.2 billion.

The stock is down 7.54% to $20.48 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

Wall Street Analysts had an average rating of Hold on the stock prior to the report.

InvestorsObserver gives the stock a Bearish Sentiment score at the moment based on recent trading.

Flowers Foods has performed a little below average during the past few months. Before the report, Flowers Foods received a Long-Term Technical Rank by InvestorsObserver of 33, putting it in the bottom half of stocks. The firm was recently trading at a 52-week low of $20.24 on October 12, 2023 and set a 52-week high on December 2, 2022 at $30.16.

Flowers Foods Inc is an American company producing bakery food for retail and foodservice across the United States. The product portfolio includes fresh breads, buns, rolls, snack cakes, and tortillas. The company distributes to supermarkets, convenience stores, and restaurants. The key brands are Nature's Own, Whitewheat, Cobblestone Bread, Wonder, Dave's Killer Bread, Canyon Bakehouse, Mrs. Freshley's, and Tastykake.