Flowers Foods (FLO) Q1 Earnings and Revenues Miss Estimates

Company Performance - Flowers Foods reported quarterly earnings of $0.38 per share, missing the Zacks Consensus Estimate of $0.40 per share, with an earnings surprise of -5% [1] - The company posted revenues of $1.58 billion for the quarter ended March 2024, missing the Zacks Consensus Estimate by 0.10%, compared to year-ago revenues of $1.53 billion [2] - Over the last four quarters, Flowers Foods has surpassed consensus EPS estimates two times and topped consensus revenue estimates two times [2] Stock Movement and Outlook - Flowers Foods shares have increased by approximately 13.3% since the beginning of the year, outperforming the S&P 500's gain of 11.3% [3] - The sustainability of the stock's price movement will depend on management's commentary during the earnings call and future earnings expectations [3][4] - The current consensus EPS estimate for the coming quarter is $0.33 on $1.25 billion in revenues, and for the current fiscal year, it is $1.25 on $5.17 billion in revenues [7] Industry Context - The Zacks Industry Rank for Food - Miscellaneous is currently in the top 35% of over 250 Zacks industries, indicating a favorable outlook for the industry [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact Flowers Foods' stock performance [5][6]