Flowers Foods Reports Mixed Results, Cuts Guidance

May 25, 2012

Flowers Foods (NYSE:FLO) reported Q1 EPS of $0.28, inline with estimates.Revenues in the quarter rose 12% year-over-year to $898 million, beating estimates by $9 million.The company said its input costs hurt margins, offset that with SG&A and operations expense cuts, it reported Q1 gross margins of 46.7% vs. 48.6% year-over-year and it sees 2012 EPS rising 3.5% - 8% from $0.96 in 2011, vs. its prior view of 7% - 12% growth given on February 9th, which implies $0.99 - $1.04. More or less their high range of guidance is inline with analyst estimates.Flowers Foods currently up on the stock exchange, seeing an increase of over 5.5% to $20.68.