Flowers Foods (FLO) FY2017 results: revenue $3.9 billion, down 0.2% on the year
Flowers Foods Inc. (FLO) reported revenue of $3.9 billion for fiscal 2017, the year ended 30 December 2017, down 0.2% on the year before. Net income was $150 million, down 8.3%, and diluted earnings per share $0.71. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2020.
Revenue
$3.9 billion
-0.2% on the year
FY2010FY2017
Operating margin
4.1%
6.7% a year earlier
FY2010FY2017
Net income
$150 million
-8.3% on the year
FY2010FY2017
Diluted EPS
$0.71
-9.0% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
3,921
3,927
3,779
-0.2%
Cost of revenue
2,009
n/a
n/a
Gross profit
1,911
n/a
n/a
Gross margin
48.7%
n/a
n/a
Research and development
2.4
3.0
3.3
-20.0%
Selling, general and administrative
1,510
1,469
1,382
+2.8%
Operating income
161
265
298
-39.2%
Operating margin
4.1%
6.7%
7.9%
Interest expense
36.6
34.9
26.8
+4.7%
Pre-tax income
149
250
293
-40.2%
Income tax
-0.8
85.8
104
Effective tax rate
-0.6%
34.4%
35.4%
Net income
150
164
189
-8.3%
Net margin
3.8%
4.2%
5.0%
Diluted EPS
$0.71
$0.78
$0.89
-9.0%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
297
357
336
-16.6%
Capital expenditure
75.2
102
90.8
-26.0%
Free cash flow
222
255
245
-12.8%
Free cash flow margin
5.7%
6.5%
6.5%
Cash from investing
-35.4
-76.7
-470
Cash from financing
-263
-288
141
Depreciation and amortisation
147
141
132
+4.2%
Share-based compensation
16.1
18.8
15.7
-14.2%
Buybacks
2.7
126
6.9
-97.9%
Dividends paid
141
131
120
+7.6%
Dividend per share
$0.67
$0.62
$0.57
+7.2%
Diluted shares, weighted
210m
210m
213m
+0.0%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
1,251
1,210
1,243
+3.4%
Debt
805
958
1,005
-16.0%
Other liabilities
604
593
596
+1.9%
Total liabilities and equity
2,660
2,761
2,844
-3.7%
Fixed assets
732
781
805
-6.3%
Goodwill
465
466
465
-0.2%
Intangible assets
742
836
875
-11.2%
Cash and equivalents
5.1
6.4
14.4
-20.0%
Inventory
111
111
111
+0.1%
Other assets
604
561
573
+7.7%
Total assets
2,660
2,761
2,844
-3.7%
10-K for the year ended 30 December 2017, filed 19 February 2020: the filing.