Flowers Foods (NYSE:FLO) 1Q17 earnings; In Line With Street Estimates

Flowers Foods (NYSE:FLO) 1Q17 earnings; In Line With Street Estimates

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Flowers Foods (NYSE:FLO) revealed net income for the first quarter of $ 60.42 million or 29 cents per share, compared to income of $ 59.36 million or 28 cents per share, in the year-ago period.

On adjusted basis, FLO reported $ 52.64 million or $ 0.25 per share.

Headquartered in Thomasville, Georgia, the company disclosed, Sales that reached $ 1.19 billion, slipped from $ 1.20 billion a year ago.

The consensus estimates from Thomson Reuters are income of $ 0.25 per share from $ 1.21 billion in revenue. Analysts estimates generally exclude one time charges / gains.

Allen Shiver, president and CEO, said: we gained share in our key segments of the bread category. We also delivered lower production costs as a percentage of sales, the result of investments in capacity and improved manufacturing efficiency. we announced plans to change our organizational structure to support greater brand growth, accountability, operational efficiency, and our long-term strategy.