Flowers Foods 2Q Profit Rises On Acquisitions

THOMASVILLE, Ga. (AP) — Bakery goods company Flowers Foods Inc. said Wednesday that its second-quarter profit climbed 27 percent, helped by acquisitions and cost control efforts.

The maker of Nature's Own bread maintained its full-year adjusted earnings forecast but lowered its sales guidance on tightened consumer spending and competition.

Net income rose to $30.3 million, or 33 cents per share, compared with $23.9 million, or 26 cents per share, during the same period a year ago.

Quarterly results included a gain of 2 cents per share related to a May acquisition.

Analysts surveyed by Thomson Reuters, whose estimates generally exclude one-time items, expected earnings of 29 cents per share.

"The success of our strategic acquisitions, combined with our efforts to improve costs and increase efficiencies, drove our earnings and helped us deliver improved operating margins," CEO George Deese said in a statement.

Sales for the period ended July 18 grew 14 percent to $614.4 million from $540.7 million but missed Wall Street's $631.3 million revenue forecast.