Flowers Foods rises after Q2 profit beat

Flowers Foods

10/08/2023 22:06

** Shares of bakery foods producer Flowers Foods  FLO.N  up
~3.7% at $25.69 in extended trading
    ** Company posts adjusted Q2 EPS of 33 cents, beating
analysts' est. of 28 cents - Refinitiv
    ** Q2 sales jump 8.8% to $1.23 bln 
    ** "Consumers continue to seek value, though we are seeing
some early indications that they may be acclimating to higher
prices and reverting toward prior purchasing behavior" - CEO
Ryals McMullian 
    ** Company also raises the lower end of its FY EPS forecast
range to $1.18 from $1.15; the upper end stays at $1.25 
    ** As of last close, stock down 13.8% YTD

 (Reporting by Manya Saini in Bengaluru)
 ((Manya.Saini@thomsonreuters.com))