Flowers Foods(US:FLO)2024-08-16 11:50Financial Performance - Net sales decreased slightly by 0.2% year-over-year to $1.225 billion[4] - Net income increased by 5% year-over-year to $67.0 million[3] - Adjusted EBITDA increased by 7.8% year-over-year to $143.5 million, representing 11.7% of sales, up 90 bps[4,6] - GAAP diluted EPS increased by $0.02 year-over-year to $0.32[6] - Adjusted diluted EPS increased by $0.03 year-over-year to $0.36[6] Sales Components - Price/Mix contributed +1.0% to sales[6] - Volume decreased by -1.2%[6] Fiscal Year 2024 Guidance - Sales are projected to be between $5.091 billion and $5.172 billion[7] - Adjusted EBITDA is expected to be between $524 million and $532 million[7] - Adjusted diluted EPS is projected to be between $1.20 and $1.30[7] Market Share and Category Trends - Flowers Foods' brands gained the most unit and dollar share of any company in the fresh packaged bread category[2] - The fresh packaged bread category is outperforming overall food, with a unit change of -0.2% year-over-year compared to general food[13,14] - Private label momentum is fading, with a change in private label unit share of -0.3%[16,17]