Flowers Foods (FLO) FY2016 results: revenue $3.9 billion, up 3.9% on the year
Flowers Foods Inc. (FLO) reported revenue of $3.9 billion for fiscal 2016, the year ended 31 December 2016, up 3.9% on the year before. Net income was $164 million, down 13.4%, and diluted earnings per share $0.78. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2019.
Revenue
$3.9 billion
+3.9% on the year
FY2009FY2016
Operating margin
6.7%
7.9% a year earlier
FY2009FY2016
Net income
$164 million
-13.4% on the year
FY2009FY2016
Diluted EPS
$0.78
-12.4% on the year
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
3,927
3,779
3,749
+3.9%
Research and development
3.0
3.3
3.2
-9.1%
Selling, general and administrative
1,469
1,382
1,368
+6.4%
Operating income
265
298
275
-11.1%
Operating margin
6.7%
7.9%
7.3%
Interest expense
34.9
26.8
28.3
+30.2%
Pre-tax income
250
293
268
-14.8%
Income tax
85.8
104
92.3
-17.4%
Effective tax rate
34.4%
35.4%
34.4%
Net income
164
189
176
-13.4%
Net margin
4.2%
5.0%
4.7%
Diluted EPS
$0.78
$0.89
$0.82
-12.4%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
357
336
315
+6.2%
Capital expenditure
102
90.8
83.8
+12.1%
Free cash flow
255
245
231
+4.1%
Free cash flow margin
6.5%
6.5%
6.2%
Cash from investing
-76.7
-470
n/a
Cash from financing
-288
141
n/a
Depreciation and amortisation
141
132
129
+6.6%
Share-based compensation
18.8
15.7
18.7
+19.6%
Buybacks
126
6.9
38.9
+1,741.6%
Dividends paid
131
120
102
+8.8%
Dividend per share
$0.62
$0.57
$0.48
+10.1%
Diluted shares, weighted
210m
213m
213m
-1.4%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
1,210
1,243
1,123
-2.7%
Debt
958
1,005
767
-4.6%
Other liabilities
593
596
519
-0.6%
Total liabilities and equity
2,761
2,844
2,409
-2.9%
Fixed assets
781
805
807
-3.0%
Goodwill
466
465
283
+0.1%
Intangible assets
836
875
645
-4.5%
Cash and equivalents
6.4
14.4
7.5
-55.4%
Inventory
111
111
93.1
-0.3%
Other assets
561
573
573
-2.1%
Total assets
2,761
2,844
2,409
-2.9%
10-K for the year ended 31 December 2016, filed 20 February 2019: the filing.