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Dec. 15, 2015, 9:33 AM
- Egg prices fell 4.8% in November to follow a 3.8% slide in October.
- The level of egg prices is still 23.7% higher than a year ago, due largely to the avian flu issue earlier this year.
- Milk prices were also lower during November, down 0.7% M/M and 7.7% Y/Y. The broader dairy category saw price declines of 3.4% Y/Y and 0.6% M/M.
- These are some of the companies that talked about milk or egg prices being a factor during their most recent earnings conference call: CALM, KO, DF, WWAV, GIS, POST, KR, DG, OTCPK:PRRFY, BDBD, GTIM, BOBE, HRL, FLO, JJSF, DENN, MCD.
- BLS CPI data
Nov. 20, 2015, 9:53 AM
Nov. 12, 2015, 5:44 PM
Nov. 12, 2015, 8:28 AM
- Flower Foods (NYSE:FLO) increases revenue guidance to $3.81B to $3.84B vs. $3.80B consensus. EPS $0.96 to $0.98 vs. $1.00 consensus is seen after factoring in Q3 results.
- During the earnings call, management noted that acquisitions of organic brands will be a sales driver.
- Earnings call webcast
- Previously: Flowers Foods EPS in-line, beats on revenue (Nov. 11 2015)
Nov. 11, 2015, 5:40 PM
Nov. 11, 2015, 5:01 PM
- Flowers Foods (NYSE:FLO): Q3 EPS of $0.23 in-line.
- Revenue of $885.3M (+4.8% Y/Y) beats by $11.98M.
Nov. 10, 2015, 5:35 PM
Oct. 13, 2015, 5:19 PM
- Flowers Foods (FLO +0.5%) has wrapped its acquisition of organic breadmaker Alpine Valley Bread Co., for $120M in cash and stock.
- Alpine Valley will operate as an independent subsidiary.
- The company has a "great team, delicious products, and a proven warehouse distribution platform in place to support the strong growth of their organic brands," says Flowers CEO Allen Shiver.
- Flowers also wrapped a $275M deal for Dave's Killer Bread, another organic breadmaker, in September.
- Previously: Flowers Foods finishes organic bread acquisition (Sep. 14 2015)
Sep. 29, 2015, 4:00 PM
- The food sector has been upturned by a DealReporter story indicating that a deal might not be worked out for the private label business of ConAgra. A number of food stocks have a M&A premium built into their share price which has added to volatility over the last few months.
- Post Holdings (POST -10%), Pinnacle Foods (PF -5.2%), Treehouse Foods (THS -2.7%), B&G Foods (BGS -2.1%), Diamond Foods (DMND -2%), and Flower Foods (FLO -2.4%) are all lower on the day.
Sep. 14, 2015, 7:29 AM
Sep. 9, 2015, 7:46 AM
- Flower Foods (NYSE:FLO) announces it will acquire Alpine Valley Bread Company for $120M.
- Alpine Valley expects to generate $85M to $95M in FY16, largely from organic bread sales.
- Flower Foods will fund 10% of the acquisition with common stock.
- The deal is expected to close in Q4.
Aug. 18, 2015, 10:01 AM
- Flowers Foods (NYSE:FLO) declares $0.145/share quarterly dividend, in line with previous.
- Forward yield 2.38%
- Payable Sept. 15; for shareholders of record Sept. 1; ex-div Aug. 28.
Aug. 13, 2015, 10:06 AM
- Flower Foods (FLO +4.5%) trades higher after Q2 results came in stronger than expected.
- The company grew EBITDA by 16% during the quarter off of 2% sales growth.
- Higher volume of branded retail bread sales boosted results in Flower's DSD segment.
- Flower Foods set FY15 EPS guidance at $0.96-$1.01 vs. $0.97 consensus.
- Previously: Flowers Foods beats by $0.03, beats on revenue (Aug. 12 2015)
Aug. 12, 2015, 5:16 PM
- Flowers Foods (NYSE:FLO): Q2 EPS of $0.25 beats by $0.03.
- Revenue of $888.8M (+1.8% Y/Y) beats by $1.24M.
Aug. 11, 2015, 5:35 PM
Jul. 7, 2015, 9:08 AM
- Hostess Brands, the bakery firm that was pursuing a sale after two years under private-equity ownership, has taken itself off that market and will pursue an IPO instead, Reuters reports.
- The company reportedly turned down offers from other companies and P-E firms that valued it from $2.4B-$2.5B including debt. It'll now seek a new loan to pay a dividend to its owners, Dean Metropoulos and Apollo Global Management (NYSE:APO).
- Hostess has turned its business around quickly after filing for bankruptcy three years ago, but its market share is still below pre-bankruptcy levels.
- Brands have been relaunched and profitability has improved since being bought out of bankruptcy.
- Snack rivals: MDLZ, HSY, FLO, OTCPK:GRBMF.
Flowers Foods Inc is a producer and marketer of packaged bakery foods. It consists of two business segments direct-store-delivery and warehouse delivery. Its brands include Nature's Own, Whitewheat, Wonder Bread,Cobblestone Bread Co., among others.
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