Flowers Foods (FLO) FY2014 results: revenue $3.7 billion, up 0.4% on the year
Flowers Foods Inc. (FLO) reported revenue of $3.7 billion for fiscal 2014, the year ended 3 January 2015, up 0.4% on the year before. Net income was $176 million, down 23.9%, and diluted earnings per share $0.82. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2015.
Revenue
$3.7 billion
+0.4% on the year
FY2008FY2014
Operating margin
7.3%
9.0% a year earlier
FY2008FY2014
Net income
$176 million
-23.9% on the year
FY2008FY2014
Diluted EPS
$0.82
-24.8% on the year
FY2008FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
3,749
3,733
3,031
+0.4%
Research and development
3.2
2.6
n/a
+23.1%
Selling, general and administrative
1,368
1,357
1,092
+0.9%
Operating income
275
335
219
-17.8%
Operating margin
7.3%
9.0%
7.2%
Interest expense
28.3
28.9
23.4
-2.0%
Pre-tax income
268
322
209
-16.8%
Income tax
92.3
91.5
72.7
+0.9%
Effective tax rate
34.4%
28.4%
34.8%
Net income
176
231
136
-23.9%
Net margin
4.7%
6.2%
4.5%
Diluted EPS
$0.82
$1.09
$0.65
-24.8%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
315
270
217
+16.5%
Capital expenditure
83.8
99.2
67.3
-15.5%
Free cash flow
231
171
150
+35.1%
Free cash flow margin
6.2%
4.6%
4.9%
Cash from investing
n/a
n/a
-385
Cash from financing
n/a
n/a
174
Depreciation and amortisation
129
118
103
+8.8%
Share-based compensation
18.7
15.9
10.1
+17.1%
Buybacks
38.9
8.8
18.7
+341.3%
Dividends paid
102
92.8
86.5
+10.2%
Dividend per share
$0.48
$0.44
$0.42
+9.2%
Diluted shares, weighted
213m
212m
208m
+0.5%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
1,123
1,076
859
+4.4%
Debt
767
927
610
-17.3%
Other liabilities
519
500
527
+3.7%
Total liabilities and equity
2,409
2,504
1,996
-3.8%
Fixed assets
807
867
726
-6.9%
Goodwill
283
282
270
+0.2%
Intangible assets
645
657
388
-1.8%
Cash and equivalents
7.5
8.5
13.3
-11.8%
Inventory
93.1
101
91.0
-7.7%
Other assets
573
589
507
-2.6%
Total assets
2,409
2,504
1,996
-3.8%
10-K for the year ended 3 January 2015, filed 25 February 2015: the filing.