- Flowers Foods reported a third-quarter sales increase of 4.8% to $885 million.
- The company's net income fell 1.8% to $44 million due to "acquisition-related costs, facility closing costs, and the effect of the tortilla facility divestiture during the prior year third quarter," according to a news release. Adjusted net income rose 8.3% to $48 million.
- Flowers Foods adjusted its fiscal 2015 outlook of sales, now $3.818 billion to $3.842 billion, and an adjusted net income per diluted common share of $0.96 to $0.98.
Flowers Foods' acquisitions, which most recently included Dave's Killer Bread and its $120 million deal for Alpine Valley Bread in September, are expected to contribute about $50 million to $55 million to fiscal 2015 sales.
With both of these acquisitions, Flowers Foods has expanded its presence in the organic and all-natural breads market as the company adapts to consumers' demands for healthier, simpler, and more natural foods.
"According to IRI data, the organic bread market has grown at a rate of 27% over the past four years, significantly outperforming the broader $23 billion U.S. retail baked goods market," according to a news release.