THOMASVILLE, Ga. (AP) _ Flowers Foods Inc. (FLO) on Wednesday reported a first-quarter loss of $5.8 million, after reporting a profit in the same period a year earlier.
The Thomasville, Georgia-based company said it had a loss of 3 cents per share. Earnings, adjusted for non-recurring costs, came to 41 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 34 cents per share.
The bakery goods company posted revenue of $1.35 billion in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $1.33 billion.
Flowers Foods expects full-year earnings in the range of $1 to $1.08 per share.
Flowers Foods shares have climbed 4% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $22.61, a rise of 6% in the last 12 months.