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Flowers Foods profit holds mostly steady YOY in fiscal Q1

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According to Market Intelligence, February 2023

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Flowers Foods profit holds mostly steady YOY in fiscal Q1

Flowers Foods Inc. said its normalized net income for the fiscal first quarter ended April 25 was 28 cents per share, compared with the S&P Capital IQ consensus estimate of 30 cents per share.

In the prior-year period, the per-share result came in at a profit of 28 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $59.3 million, compared with $59.4 million in the prior-year period.

The normalized profit margin rose to 5.2% from 5.1% in the year-earlier period.

Total revenue came to $1.15 billion, compared with $1.15 billion in the prior-year period, and total operating expenses totaled $1.05 billion, compared with $1.06 billion in the year-earlier period.

Reported net income totaled $61.7 million, or 29 cents per share, compared to $61.7 million, or 29 cents per share, in the year-earlier period.