Yahoo Finance Flowers Foods (FLO) Gears Up for Q1 Earnings: Is a Beat Likely?
Flowers Foods, Inc. FLO is likely to register top-and bottom-line growth when it reports first-quarter fiscal 2024 earnings on May 16. The Zacks Consensus Estimate for revenues is pegged at $1.6 billion, suggesting an increase of 2.9% from the prior-year quarter’s reported figure.
The consensus mark for quarterly earnings has remained unchanged in the past 30 days at 40 cents per share, indicating growth of 5.3% from the year-ago quarter’s reported figure. FLO has a trailing four-quarter earnings surprise of 6.8%, on average.
Factors To Note
Flowers Foods has been reaping benefits from favorable pricing actions, which has been boosting sales. This, along with impressive portfolio strategies and enhanced efficiencies, has been helping the company mitigate various inflationary pressures to generate better margins.
The company is on track with its core strategic priorities, which are yielding. This encompasses developing its team, concentrating on brands, prioritizing margins and looking out for prudent mergers and acquisitions. Focus on innovation and product differentiation helps Flowers Foods in capturing consumer interest and expanding market share in adjacent categories. The continuation of these trends is likely to have aided The TJX Companies’ performance in the to-be-reported quarter.
Flowers Foods, Inc. Price and EPS Surprise
Flowers Foods, Inc. price-eps-surprise | Flowers Foods, Inc. Quote
However, the ongoing inflationary environment may persist as a challenge, potentially influencing consumer spending capabilities and input expenses. Also, management foresees business exits to affect volumes, especially in the first half of 2024. These downsides are likely to have put pressure on the company’s performance in the fiscal first quarter.
What the Zacks Model Unveils
Our proven model predicts an earnings beat for Flowers Foods this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Flowers Foods carries a Zacks Rank #3 and has an Earnings ESP of +0.46%.
Other Stocks With the Favorable Combination
Here are three other companies worth considering, as our model shows that these also have the correct combination to beat on earnings this time:
The TJX Companies TJX currently has an Earnings ESP of +2.50% and a Zacks Rank #2. TJX is likely to register top and bottom-line growth when it reports first-quarter fiscal 2024 results. The Zacks Consensus Estimate for its quarterly revenues is pegged at $12.5 billion, indicating 5.8% growth from that reported in the prior-year quarter. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for TJX’s fiscal first-quarter earnings is pegged at 87 cents, indicating 14.5% growth from the year-ago quarter's actuals. The consensus mark has been unchanged in the past 30 days. TJX has a trailing four-quarter earnings surprise of 6.3%, on average.
Ollie's Bargain Outlet Holdings, Inc. OLLI currently has an Earnings ESP of +3.08% and a Zacks Rank of 3. The company is likely to register top- and bottom-line increases when it posts first-quarter fiscal 2024 numbers. The Zacks Consensus Estimate for Ollie's Bargain’s quarterly revenues is pegged at $503.8 million, indicating growth of 9.7% from the figure reported in the prior-year quarter.
The Zacks Consensus Estimate for Ollie's Bargain’s quarterly earnings of 65 cents suggests a rise of 32.7% from the year-ago quarter’s levels. OLLI has a trailing four-quarter earnings surprise of 7.3%, on average.
Ross Stores ROST currently has an Earnings ESP of +3.24% and a Zacks Rank #3. The company is likely to register top and bottom-line growth when it reports first-quarter fiscal 2024 results. The Zacks Consensus Estimate for its quarterly revenues is pegged at $4.82 million, indicating 7.3% growth from that reported in the prior-year quarter.
The Zacks Consensus Estimate for Ross Stores’ fiscal first-quarter earnings is pegged at $1.34 per share, indicating 22.9% growth from that reported in the year-ago quarter. The consensus mark has been unchanged in the past 30 days. ROST has a trailing four-quarter earnings surprise of 9.1%, on average.
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The TJX Companies, Inc. (TJX) : Free Stock Analysis Report
Ross Stores, Inc. (ROST) : Free Stock Analysis Report
Flowers Foods, Inc. (FLO) : Free Stock Analysis Report
Ollie's Bargain Outlet Holdings, Inc. (OLLI) : Free Stock Analysis Report
