Flowers Foods (NYSE:FLO) unveiled its quarterly earnings figures late in the afternoon, bringing in earnings that were stronger than what analysts called for in the Wall Street consensus estimate, playing a role in lifting FLO stock more than 3% after hours Wednesday.
The Thomasville, Georgia-based business announced today that for its first quarter of its fiscal 2019, it brought in net income of $65.9 million, which tallied up to roughly 31 cents per share. On an adjusted basis when considering non-recurring costs and restructuring costs, the company’s earnings tallied up to 32 cents per share.
The Wall Street consensus estimate saw Flower Foods bringing in adjusted earnings of 30 cents per share, according to data compiled by Zacks Investment Research in a survey of analysts. The business also amassed adjusted earnings of 30 cents per share during the same quarter in its fiscal 2018.
The company also revealed that its revenue for the three-month period came in at $1.26 billion, marking a 4.8% gain when compared to the year-ago quarter. For its fiscal 2019, Flower Foods now forecasts its earnings to be in the range of 94 cents to $1.02 per share.
FLO stock is surging about 3.6% after the bell Wednesday off the heels of an impressive quarterly earnings performance from the company. Shares had been up about 0.3% during regular trading hours as Flower Foods prepared itself to report on its latest quarter.
Article printed from InvestorPlace Media, https://investorplace.com/2019/05/flowers-foods-earnings-flo-stock/.
©2019 InvestorPlace Media, LLC
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