Flowers Foods reported its sales increased by 11.0% to a record USD 4.806 billion, its 2022 financial results show. In the fourth quarter of 2022, sales increased by 10.1% to a quarter-record of USD 1.083 billion. Last year’s Q4 net income increased by 23.6% to USD 48.6 million, compared with the results of Q4 – 2021.
For the 2023 fiscal year, the company anticipates sales in the range of approximately USD 5.176 billion to USD 5.242 billion, representing an increase of around 7.7% to 9.1% compared to 2022.
“Our record fourth quarter and fiscal year 2022 sales highlight the flexibility of our business model and strong execution by our Flowers team,” said Ryals McMullian, president and CEO of Flowers Foods. “We have taken steps to adapt and respond to the inflationary environment by implementing price increases, improving the profitability of our lower-margin products, and increasing the attractiveness of our branded portfolio through innovation. We have also entered into an agreement to acquire Papa Pita Bakery, which we expect to provide additional capacity for our growth products and expand our geographic reach. Building off our achievements in 2022, we are investing in continued growth for this year and beyond.”
As part of these efforts, Flowers Foods is increasing marketing to support the launch of Dave’s Killer Bread snack bars throughout the US.
Flowers Foods operates bakeries across the US, with brands including Nature’s Own, Dave’s Killer Bread, Wonder, Canyon Bakehouse, and Tastykake.
Photo: Flowers Foods (LinkedIn)