TheStreet

Packaged food company Flowers Foods (FLO - Get Report) is gaining more than 5% Thursday following its first-quarter earnings beat after Wednesday's closing bell.

The Thomasville, GA-based company reported first-quarter earnings of 32 cents per share on revenue of $1.264 billion. Analysts polled by FactSet were expecting the company to report earnings of 30 cents per share on revenue of $1.232 billion. 

For the year, the Nature's Own parent company expects to earn between 94 cents and $1.02 per share. FactSet analysts anticipate full-year earnings of 97 cents per share. 

"We achieved record sales in the first quarter and are proud of the solid start to the year," said Allen Shiver, Flowers Foods president and CEO. "In our core business, we benefited from pricing actions taken to mitigate inflationary headwinds as well as continued growth from key brands including Dave's Killer Bread, Nature's Own and Wonder. The recently acquired Canyon Bakehouse also drove top-line growth, and we remain on-track with the rollout of the brand across our distribution network."

Flowers Foods was trading at $22.50 Thursday.