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    1. Management

    New Products, Expanded Distribution & Enhanced Brand Strategy Drive Record Q2 Results For Flowers Foods, Inc.

    Aug. 13, 2015
    Flowerfoodslogo 11461815

    THOMASVILLE, Ga., Aug. 12, 2015 /PRNewswire/ -- Flowers Foods, Inc., producer of Nature's Own, Wonder, Tastykake, and other bakery foods, today reported financial results for the company's 12-week second quarter ended July 18, 2015.

    Second Quarter 2015 Summary Financial Results
    Compared to prior year second quarter

    • Sales(1) increased 1.8% to $889 million
    • EBITDA(2) increased 16.0% to $111 million; adjusted EBITDA(3) increased 13.0% to $113 million
    • Net income increased 23.1% to $52 million; adjusted net income(4) increased 18.4% to $53 million
    • Diluted EPS increased 20.0% to $0.24; adjusted diluted EPS(4) increased 19.0% to $0.25
    • Dividends paid increased 20.8% to $0.1450 per share
    1. Prior period sales have been revised. See explanation in Form 10-Q which will be filed August 13, 2015 and Form 10-K filed February 25, 2015.
    2. Earnings before Interest, Taxes, Depreciation & Amortization; see reconciliation of non-GAAP measures in the financial statements following this release.
    3. Adjusted Earnings before Interest, Taxes, Depreciation & Amortization; see reconciliation of non-GAAP measures in the financial statements following this release.
    4. See reconciliation of non-GAAP measures in the financial statements following this release.

    Second Quarter Highlights

    • EBITDA and EPS are the highest ever recorded during the company's second quarter.
    • For the 12-week second quarter of fiscal 2015, the increase in consolidated sales reflects a volume increase of 0.9% and a positive price/mix of 0.9%.
    • Sales in expansion markets contributed 1.1% to the overall sales increase during the quarter; driven by the acquired Hostess bread brands – Wonder, Home Pride, Merita, and Butternut.
    • The company generated $97.5 million of cash flow from operations and paid down $11.3 million of debt.

    Fiscal 2015 Outlook

    • The company continues to expect 52-week fiscal 2015 sales of $3.786 billion to $3.861 billion and adjusted diluted earnings per share of $0.96 to $1.01. Capital expenditures are anticipated to be in the range of $85.0 to $95.0 million. Full report.

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