Flowers Foods Inc

Latest Results (21.11.2025):

Flowers Foods Inc's third quarter of 2025 (12-week period ended October 4, 2025) showed revenue growth driven by the Simple Mills acquisition but weaker profitability: net sales rose 3.0% to $1.227 billion, while net income fell 39.2% to $39.5 million and adjusted EBITDA declined 11.4% to $118.1 million.

Headline results

Net sales increased 3.0% to $1.227 billion; net income was $39.5 million (3.2% of sales), down 39.2%; adjusted EBITDA was $118.1 million, down 11.4% and equal to 9.6% of sales.

Earnings per share

Diluted EPS decreased $0.12 to $0.19. Adjusted diluted EPS decreased $0.10 to $0.23.

Acquisition impact

Simple Mills added $70.7 million in net sales, contributed $11.1 million to adjusted EBITDA, produced a $2.0 million net loss, and reduced diluted EPS by $0.01 for the quarter.

Margin and cost drivers

Materials, supplies, labor and other production costs rose to 52.1% of sales (up 190 bps) driven by increased outside purchases, lower price/mix and lower production volumes. SD&A was 38.8% of sales (up 10 bps); adjusted SD&A was 38.3% (down 30 bps). D&A was $39.9 million (3.3% of sales).

Interest, restructuring and other items

Net interest expense increased by $9.7 million due to debt issued for the Simple Mills acquisition. Restructuring charges rose $5.5 million; plant closure and impairment costs decreased $4.5 million versus prior year.

Cash flow & capital allocation

Year-to-date operating cash flow rose to $320.8 million. Capital expenditures were $80.3 million year-to-date (down $6.3 million). Dividends paid were $157.0 million. Cash and cash equivalents at quarter end were $16.7 million.

Updated 2025 outlook

For the 53-week fiscal 2025, Flowers expects net sales of ~$5.254B–$5.306B, adjusted EBITDA of ~$515M–$532M, and adjusted diluted EPS of ~$1.02–$1.08 (Simple Mills partial-year impact and 53rd week noted). Key assumptions include net interest expense ~$58M–$62M, D&A ~$168M–$172M, effective tax ~24.5%, and ~212.3M diluted shares.