Flowers Foods (FLO) FY2025 results: revenue $5.3 billion, up 3.0% on the year
Flowers Foods Inc. (FLO) reported revenue of $5.3 billion for fiscal 2025, the year ended 3 January 2026, up 3.0% on the year before. Net income was $84 million, down 66.2%, and diluted earnings per share $0.40. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2026.
Revenue
$5.3 billion
+3.0% on the year
FY2018FY2025
Operating margin
3.3%
6.8% a year earlier
FY2018FY2025
Net income
$84 million
-66.2% on the year
FY2018FY2025
Diluted EPS
$0.40
-65.8% on the year
FY2018FY2025
this yearthe year beforeHover a bar for its figure.
The year in brief
What management said about the year
Guidance figures: 6 new.
Fourth-quarter sales rose 11%: The company attributed the growth to the extra week, the Simple Mills acquisition and higher pricing/mix, which more than offset volume declines.
Quarter net loss from impairment: Fourth-quarter diluted EPS was a loss of $0.32. Adjusted net income was $45.8 million, down 1.5%, excluding the non-cash charge.
Fourth-quarter adjusted EPS flat: Fourth-quarter adjusted diluted EPS was $0.22, flat with the prior year. Full-year adjusted diluted EPS was $1.09, down $0.19.
Branded Retail sales up 16.6%: Branded Retail fourth-quarter net sales were $811.6 million. Simple Mills added 7.7 points and the extra week 8.3 points to growth.
Production costs rose to 51.5%: Production costs rose to 51.5% of net sales, mainly from higher outside purchases of product, partly offset by lower workforce-related and ingredient costs.
$ 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
FY2025
FY2024
FY2023
On the year
Last 8 years
Operating cash flow
446
413
349
+8.1%
Capital expenditure
127
132
129
-3.8%
Free cash flow
319
281
220
+13.7%
Free cash flow margin
6.1%
5.5%
4.3%
Cash from investing
-943
-173
-404
Cash from financing
504
-258
-88.1
Depreciation and amortisation
167
159
152
+5.2%
Share-based compensation
32.3
29.7
26.9
+8.6%
Buybacks
5.5
22.7
45.8
-75.8%
Dividends paid
209
203
195
+3.1%
Dividend per share
$0.98
$0.95
$0.91
+3.4%
Diluted shares, weighted
212m
212m
213m
-0.0%
Balance sheet
$ million
FY2025
FY2024
FY2023
On the year
Last 8 years
Shareholders' equity
1,303
1,410
1,352
-7.6%
Debt
2,006
1,276
1,285
+57.2%
Operating lease liabilities
251
254
237
-1.3%
Finance lease liabilities
0.1
0.0
0.0
+945.5%
Other liabilities
623
460
553
+35.4%
Total liabilities and equity
4,184
3,400
3,427
+23.0%
Fixed assets
953
964
963
-1.2%
Goodwill
1,048
680
678
+54.1%
Intangible assets
0.1
0.3
658
-56.4%
Cash and equivalents
12.1
5.0
22.5
+141.8%
Inventory
202
172
184
+17.3%
Other assets
1,969
1,579
921
+24.7%
Total assets
4,184
3,400
3,427
+23.0%
10-K for the year ended 3 January 2026, filed 25 February 2026: the filing.