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Flowers Foods Reports Record 1.158B in Third Quarter 2022 Results; Ryals McMullian Details

Flowers Foods Reports Record 1.158B in Third Quarter 2022 Results; Ryals McMullian Details


THOMASVILLE, GA
Monday, November 14th, 2022

Flowers Foods recently released its financial results for its 2022 third quarter. The producer of Nature’s Own, Dave’s Killer Bread, and other bakery foods revealed that its sales increased 12.7 percent compared to the prior year, with a quarter record of $1.158 billion.

Ryals McMullian, President and Chief Executive Officer, Flowers Foods“Flowers’ record results in a challenging environment underscore the resiliency of our business and the ongoing effectiveness of our strategy,” said Ryals McMullian, President and Chief Executive Officer. “Our performance reflects strong results from our number one brands, which continue to resonate with consumers despite the impact of inflation on purchasing decisions. And we are successfully mitigating this inflationary impact with initiatives to enhance sales and margins.”

Branded retail sales increased $59.4 million, or 8.6 percent, to $748.4 million; store branded retail sales increased $39.3 million, or 31.5 percent to $163.9 million; while non-retail and other sales increased $31.7 million, or 14.8 percent, to $245.8 million.

The producer of Nature’s Own, Dave’s Killer Bread, and other bakery foods revealed that its sales increased 12.7 percent compared to the prior year, with a quarter record of $1.158 billion

The release continued by noting the company’s net income increased by 4.3 percent to $40.5 million, while the adjusted EBITDA increased by 1.6 percent to $120.4 million.

“Looking forward, we are focused on maintaining our momentum through increased investments in innovation and marketing. By leveraging our leading brands, we believe that our agile innovation initiative will expand our revenue streams beyond the traditional bread aisle. The nationwide launch of Dave’s Killer Bread snack bars in 2023 is just the first step in this process,” McMullian stated. “Our strong balance sheet and ample cash flow enable us to take a long-term perspective, and we have a 100-plus year history of driving profitable growth in a variety of market conditions. As always, we remain focused on creating shareholder value and achieving results in line with our long-term financial targets.”

Dive into the company’s release here for more information, and stick around with Deli Market News as we report on all things specialty, deli, and dairy.

Flowers Foods
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