22.23
price up icon0.14%   0.03
 
loading

Why is Flowers Foods Inc (FLO) Stock down?

We've noticed a 5.13% decline in Flowers Foods Inc (FLO) stock during the 2024-02-09 trading session. While this could be attributed to normal volatility or various internal and external factors, please be aware that we are actively monitoring the situation, and we'll provide timely updates as soon as possible!
10 Nov, 2023:

Flowers Foods, Inc. Stock (FLO) dropped by 6.90% from $22.16 to $20.63 in the trading on Friday November 10, 2023. The reasons why FLO stock down today include:

  • Net loss: Flower Foods incurred a net loss of $46.7 million as a result of settling a class action lawsuit in California. This settlement led to a roughly 3% decrease in the company's earnings per share (EPS).
  • Products volume: Due to higher prices, Flower Foods has observed that people are choosing cheaper baked goods instead of the more expensive branded ones. As a result, the company's overall sales volume declined by 4.1% compared to the same period last year in Q3.
  • Full-year guidance: Flower Foods originally expected sales between $5.095 - $5.141 billion, but now it predicts sales in the range of $5.085 - $5.104 billion. The more significant change is in the company's earnings per share (EPS) guidance. Initially, it foresaw full-year diluted EPS between $1.18 - $1.25, but now it anticipates a lower range of $0.60 - $0.67 due to the settlement costing more than initially estimated.
19 May, 2023:

FLO's stock fell 9.88% after the parent of baked goods brands like Tastykake, Wonder Bread, and Dave's Killer Bread cut its full-year guidance in its first-quarter earnings report. Flowers said that revenue in the first quarter rose 6.9% to $1.534 billion, a record for that quarter but slightly below estimates at $1.55 billion. However, inflation ate into the company's profits, and gross margin fell 170 basis points to 46.2%. That led to a decline in adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) fell 8.7% to $151.1 million.

https://www.fool.com/investing/2023/05/19/why-flowers-foods-stock-was-falling-today/

packaged_foods LW
$77.46
price up icon 0.48%
packaged_foods SJM
$113.69
price up icon 0.68%
packaged_foods PPC
$51.25
price up icon 2.15%
packaged_foods CPB
$46.38
price up icon 0.11%
packaged_foods CAG
$28.77
price down icon 0.69%
packaged_foods HRL
$30.74
price down icon 0.58%
Cap:     |  Volume (24h):