Flowers Foods, Inc. (NYSE:FLO) Q2 2022 Earnings Conference Call August 12, 2022 8:30 AM ET Company Participants J.T. Rieck - Senior Vice President, Finance and Investor Relations Ryals McMullian - President and Chief Executive Officer Steve Kinsey - Chief Financial Officer Conference Call Participants Bill Chappell - Truist Robert Dickerson - Jefferies Connor Rattigan - Consumer Edge Research Steve Powers - Deutsche Bank Mitch Pinheiro - Sturdivant & Company. Operator Good day and welcome to the Flowers Foo ...

Flowers Foods, Inc. (NYSE:FLO) Q1 2022 Earnings Conference Call May 20, 2022 8:30 AM ET Company Participants J.T. Rieck - Senior Vice President, Finance and Investor Relations Ryals McMullian - President and Chief Executive Officer Steve Kinsey - Chief Financial Officer Conference Call Participants Ryan Bell - Consumer Edge Research Steve Powers - Deutsche Bank Mitch Pinheiro - Strudivant & Company Ben Bienvenu - Stephens Bill Chappell - Truist Securities Operator Good day, and thank you for standing by. We ...

Financial Performance - Net sales increased by 103% year-over-year, reaching $1436 billion, driven by a 135% increase in price/mix, offset by a 32% decrease in volume[8] - Adjusted EBITDA increased by 24% year-over-year to $1655 million, representing 115% of sales, a decrease of 90 bps, as inflation-driven pricing actions offset significant input and logistics cost increases[8] - GAAP diluted EPS increased by $006 year-over-year to $040, while adjusted diluted EPS increased by $003 year-over-year to $044[8] Fiscal Year 2022 Guidance - The company projects sales growth of 100% to 120%[9] - Adjusted EPS is expected to be in the range of $120 to $130[9] - Capital expenditures are projected to be between $150 million and $160 million, with $60 million to $70 million related to an ERP upgrade[9] Market Share and Category Review - Flowers' bread share was 180% in Q1 2022[14] - Flowers' cake share was 76% in Q1 2022[14] - Dollar sales for Flowers fresh packaged breads increased by 213% in Q1 2022 compared to Q1 2020[17] Long-Term Growth Targets - The company's long-term sales target is 1-2%, with FY'22 reaching 52%[10] - The long-term adjusted EPS target is 7-9%, with FY'22 reaching 92% based on guidance midpoint[10]

Flowers Foods, Inc. (NYSE:FLO) Q4 2021 Results Conference Call February 11, 2022 8:30 AM ET Company Participants Ryals McMullian - President and CEO J.T. Rieck - SVP, Finance and Investor Relations Steve Kinsey - CFO Conference Call Participants Jim Salera - Stephens Mitch Pinheiro - Sturdivant & Company Ryan Bell - Consumer Edge Research Robert Dickerson - Jefferies Operator Good day, and thank you for standing by. Welcome to the Flowers Foods Fourth Quarter and Fiscal Year 2021 Results Conference Call. [O ...

| --- | --- | --- | --- | |--------------------------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | FOURTH QUARTER 2021 | | | | | REVIEW February 10, 2022 | | | | | | | | | | | | | | | | | | | REGARDING FORWARD-LOOKING STATEMENTS Statements contained in this presentation and certain other written or oral statements made from time to time by Flowers Foods, Inc. (the "company", "Flowers Foods", "Flowers", "us", "we", or "our") and its representatives that are not historical facts are forw ...

Flowers Foods, Inc. (NYSE:FLO) Q3 2021 Earnings Conference Call November 12, 2021 8:30 AM ET Company Participants Ryals McMullian – President and CEO J.T. Rieck – Senior Vice President Finance and Investor Relations Steve Kinsey – CFO Conference Call Participants Bill Chappell – Truist Ben Bienvenu – Stephens Steve Powers – Deutsche Bank Mitch Pinheiro – Sturdivant & Company Operator Good morning, ladies and gentlemen. And welcome to the Flowers Foods Third Quarter 2021 Earnings Conference Call. At this tim ...

國 FlowersFoods Third Quarter 2021 Review November 11, 2021 Regarding Forward-Looking Statements 2 Statements contained in this presentation and certain other written or oral statements made from time to time by Statements contained in this presentation and certain other written or oral statements made from time to time by Flowers Foods, Inc. (the "company", "Flowers Foods", "Flowers", "us", "we", or "our") and its representatives that are not historical facts are forward-looking statements as defined in the ...

國 FlowersFoods Second Quarter 2021 Review August 12, 2021 Regarding Forward-Looking Statements 2 Statements contained in this transcript and certain other written or oral statements made from time to time by Flowers Foods, Inc. (the "company", "Flowers Foods", "Flowers", "us", "we", or "our") and its representatives that are not historical facts are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements relate to current expectations regardi ...

Flowers Foods, Inc. (NYSE:FLO) Q2 2021 Earnings Conference Call August 13, 2021 8:30 AM ET Company Participants J.T. Rieck - Vice President of Investor Relations and Treasurer Ryals McMullian - President and Chief Executive Officer Steve Kinsey - Chief Financial Officer and Chief Accounting Officer Conference Call Participants Bill Chappell - Truist Mitchell Pinheiro - Sturdivant Ryan Bell - Consumer Edge Research Ben Bienvenu - Stephens Operator Good day and thank you for standing by. Welcome to the Flower ...

Financial Data and Key Metrics Changes - The company reported a strong performance in Q1 2021, with branded retail business up 13.7% compared to Q1 2019, indicating a positive trajectory [27][28] - The company is on track to deliver $30 million to $40 million in portfolio optimization savings for the year, which includes procurement, overhead, and SG&A savings [32] Business Line Data and Key Metrics Changes - The food service segment is starting to recover, particularly the quick serve business, which is up compared to 2019, while overall food service remains depressed [21] - The company has set new margin thresholds for its food service business and is focusing on improving profitability [21] Market Data and Key Metrics Changes - Private label products have decreased from 26% to 20% of the category, reflecting a shift in consumer preference towards branded products [14][15] - The company has seen market share gains in the Northeast region, which has been a focus area for growth [33] Company Strategy and Development Direction - The company is committed to maintaining a disciplined approach to M&A, with an active interest in the current landscape despite challenges in valuations [38] - Digital initiatives are a key focus, with investments expected to ramp up in the back half of the year [22] Management's Comments on Operating Environment and Future Outlook - Management believes that some consumer behavior changes due to the pandemic may be permanent, but they also expect some reversion to pre-pandemic levels [8] - The company is optimistic about its ability to manage commodity inflation through various levers, including efficiencies and cost initiatives [5][6] Other Important Information - The company is actively evaluating its bakery network for optimization and efficiency improvements [17] - The management has indicated that they are beginning to think about strategies for 2022, although specific guidance has not been provided yet [20] Q&A Session Summary Question: Insights on commodity inflation and pricing potential - Management acknowledged volatility in commodity markets but expressed confidence in their guidance for 2021, with strategies in place to manage costs [5][6] Question: Changes in consumer behavior and channel servicing - Management noted that while some patterns may revert, they believe they are well-positioned with their branded portfolio and expect food service to return at better margins [8] Question: Competitive pricing landscape - Management reported no significant changes in competitive pricing, with promotional activities remaining consistent with past quarters [11] Question: Private label market dynamics - Management indicated that the decline in private label is consumer-driven, with retailers recognizing the benefits of branded products [15][24] Question: Food service profitability improvements - Management shared that they have set new margin thresholds for food service and are focused on improving profitability, with early returns being positive [21] Question: Digital initiatives and funding - Management confirmed that they have started investing in digital initiatives, with more details expected later in the year [22] Question: M&A landscape and valuations - Management highlighted an active M&A environment but emphasized a disciplined approach to valuations [38] Question: Innovations in product offerings - Management expressed excitement about new product innovations, particularly in flatbreads, and the positive reception from consumers [39]