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Flowers Food Sees Higher Profits; Beats Estimates (FLO)
Bakery product producer, Flowers Foods, Inc.(FLO
) reported increased earnings on Wednesday, beating analysts estimates.
The Thomasville, GA based company reported earnings of $38.56 million, or 28 cents per share, up from $23.03 million, or 17 cents per share last year. Analysts expected to see earnings of 25 cents per share.
Revenue for the quarter was $749.44 million, a 15% increase from $653.56 million last year. Analysts estimated $708.14 in revenue.
The company is holding off on releasing their outlook for FY2013 earnings. FLO is waiting for more information regarding possible acquisitions, notably the Hostess situation.
Flowers Foods shares were up 83 cents, or 2.98% during Thursday morning trading. The stock has increased 49% in the past year.
The Bottom Line
Shares of Flowers Foods, Inc.(FLO) have a 2.29% yield, based on Wednesday’s closing price of $27.89.
Flowers Foods, Inc.(FLO) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.
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