Flowers Foods Q3 Profit Tops View; Cuts FY14 Outlook - Quick Facts

(RTTNews) - Flowers Foods, Inc. (FLO) reported third-quarter net income of $44.4 million or $0.21 per share, compared to $38.4 million or $0.18 per share, last year.

On average, eight analysts polled by Thomson Reuters expected the company to report profit per share of $0.20 for the quarter. Analysts' estimates typically exclude special items.

Sales decreased 3.3% to $849.36 million from $878.49 million, last year, while seven analysts expected revenue of $881.61 million for the quarter. The company said the decrease was attributable to positive net price/mix of 1.1% and decreased volume of 4.4%.

For fiscal 2014. the company now expects adjusted earnings per share to be in the range of $0.86 to $0.90 and sales in the range of $3.75 billion to $3.77 billion. Previously, the company expected adjusted earnings of $0.92 to $0.98 per share and sales of $3.88 billion to $3.94 billion. Analysts now expect the company to report fiscal 2014 earnings per share of $0.93 on revenue of $3.85 billion.