Flowers Foods (FLO) reported results for fiscal 4Q17 on February 7, 2018. The company’s adjusted EPS (earnings per share) of $0.17 and sales of $873.6 million in fiscal 4Q17 easily topped the analysts’ estimate of $0.15 and $861 million, respectively. Despite a tough operational backdrop, the company stated that the demand upsurge in Dave’s Killer Bread boosted the company’s sales performance in fiscal 4Q17.
Among other quarterly highlights, the company’s cost-cutting efforts and organizational restructuring led to a $32 million gross savings in fiscal 2017.
Following the earnings announcement on February 7 and the earnings conference call the next day, the stock had gained nearly 5.6% as of February 8, 2018. This was followed by another 2.1% gain on February 9, 2018. On a YTD (year-to-date) basis, the stock price is up 5.5%.
The YTD stock performance is much better when compared to peers. In comparison, Treehouse (THS) is down 14.8%, while J&J Snack Foods (JJSF) is down 11.8% since the start of this year. Campbell Soup (CPB) is down 4.9% on a YTD basis as of February 9, 2018. In comparison, the S&P 500 Index (SPX-Index) is down 2% as of February 9, 2018.
What analysts have to say after results
After the fiscal 4Q17 results, out of the eight analysts providing a recommendation on Flowers Foods, 50% have rated it as a “hold,” while the rest rated it as a “buy.” We have seen no target price revision activity so far. Currently, the analysts’ 12-month average target price for the company is $21.86, which reflects a 7.3% upside to the share price as of February 9, 2018.
Where do peers stand?
Out of 17 analysts covering Treehouse, ~76.0% have provided a “hold” rating while for Campbell Soup, 56% of the analysts have a “hold.” For J&J Snack Foods, 40.0% of the five analysts covering the stock have provided “hold” ratings.
In this series, we’ll discuss Flowers Foods’ fiscal 4Q17 results in detail, starting with a discussion of the company’s earnings in the next part of this series.
Driven by strong demand for Dave’s Killer Bread, Flowers Foods (FLO) reported fiscal 4Q17 sales of $873.6, which easily beat the analysts’ estimate of $861 million.
In April so far, Italian-American auto giant Fiat Chrysler Automobiles (FCAU) has outperformed the broader market by a wide margin after underperforming in the first quarter.
Royal Dutch Shell (RDS.A) is slated to release its Q1 2019 results on May 2. Before we review the Q1 2019 estimates, let’s recap Shell’s Q4 2018 performance compared to forecasts.
United Parcel Service (UPS) is scheduled to report its first-quarter earnings results on April 25.
Cleveland-Cliffs (CLF) is expected to report its first-quarter earnings results on April 25.
While the overall cannabis sector experienced weakness on April 23, some stocks managed to gain some positive momentum in the first half of the day.
After being listed on the NASDAQ (QQQ) on March 29, Lyft (LYFT) stock has traded on a negative note so far.