Flowers Foods (FLO) Q2 2026 Earnings
Adjusted EPS of $0.21 excludes $0.02 per share in restructuring-related implementation costs and a $(0.01) per share recovery on inferior ingredients
How Did FLO Stock React to Q2 2026 Earnings?
S&P 500 over the same 30 days: +0.27%.
Did FLO Beat Earnings? Q2 2026 Results
No. Flowers Foods reported Q2 2026 earnings of $0.21 a share on Aug 20, 2026, missing the $0.22 consensus estimate by 5.8%. Revenue was $1.2B against a $1.2B estimate.
Flowers Foods delivered a disappointing second quarter of fiscal 2026, missing on both top and bottom lines as volume declines and margin pressure weighed heavily on results. The packaged bakery company posted adjusted diluted EPS of $0.21, falling 5.79% short of the $0.22 consensus estimate, while net sales slid 4.0% year-over-year to $1.19 billion, below the $1.23 billion Wall Street had anticipated. The shortfall was driven primarily by a 5.8% volume decrease across the business, with Branded Retail, which includes brands like Nature's Own, seeing unit volumes fall 7.6% as consumers traded down amid macroeconomic pressure and intensified competition in the fresh packaged bread category. Profitability eroded sharply, with adjusted EBITDA dropping 19.2% to $111.30 million and margins contracting 180 basis points to 9.3%. Management responded by cutting its full-year outlook, now guiding for net sales of $5.07 billion to $5.14 billion and adjusted diluted EPS of $0.75 to $0.85, down from prior targets, as the company simultaneously pursues an operational realignment and a reported evaluation of strategic portfolio options including its Tastykake brand.
- Volume declines of 5.8% driven by macroeconomic pressures and consumer spending shifts
- Favorable price/mix of 1.8% partially offsetting volume losses
- Branded Retail volume declined 7.6% with 3.8% favorable pricing/mix
- Increased labor and freight costs pressuring margins
- Higher marketing spend to support brand initiatives
- Moderating ingredient costs providing partial offset
- Lower interest expense from reduced debt balances
“Our second quarter results reflect the continued challenges across the fresh packaged bread category, where macroeconomic pressures, evolving consumer purchasing behavior, and sustained competitive activity created a more difficult operating environment than we anticipated. While these headwinds weighed on our performance, they also reinforced the actions we are taking to strengthen our competitiveness and improve execution.”
Flowers Foods CEO, on the earnings call
What Is Flowers Foods's Outlook?
Flowers Foods lowered its full-year fiscal 2026 guidance across all key metrics. Net sales are now expected at approximately $5.070 billion to $5.142 billion (representing -3.5% to -2.2% change YoY), down from prior guidance of $5.163 billion to $5.267 billion. Adjusted EBITDA is expected in the range of $453 million to $481 million, versus prior guidance of $465 million to $495 million. Adjusted diluted EPS is expected at $0.75 to $0.85 per share, down from prior guidance of $0.80 to $0.90. Assumptions include depreciation and amortization of approximately $165 million to $170 million, net interest expense of $65 million to $70 million, an effective tax rate of approximately 26%, weighted average diluted share count of approximately 213.5 million shares, and capital expenditures of approximately $115 million to $125 million.
FLO YoY Financials
| Metric | Q2 2026 | Q2 2025 | Year over year |
|---|---|---|---|
| Revenue | $1.2B | $1.2B | −4.0% |
| Gross Profit | $556.0M | $606.7M | −8.4% |
| Operating Income | $68.1M | $93.4M | −27.1% |
| Net Income | $40.7M | $58.4M | −30.3% |
FLO Revenue by Segment
When Does Flowers Foods Report Next?
Figures from SEC filings and company reports. Not investment advice.