Flowers Foods Q3 Filing: Liabilities & Customer Sales Detailed

TL;DR

Flowers Foods Q3 10-Q shows liabilities and sales from Walmart/Sam's Club.

AI Summary

Flowers Foods Inc. reported its Q3 results for the period ending October 5, 2024. The company's financial statements show various liabilities and equity accounts, including "Other Current Liabilities" and "Other Noncurrent Liabilities" as of December 30, 2023. The filing also references "Sales Revenue Net" from key customers like Walmart and Sam's Club for the period of July 16, 2023, to October 7, 2023.

Why It Matters

This filing provides insight into Flowers Foods' financial structure and its relationships with major retailers, which can impact investor understanding of the company's stability and revenue streams.

Risk Assessment

Risk Level: low — The filing is a routine quarterly report with no immediate red flags indicating significant new risks.

Key Numbers

• N/A — Sales Revenue Net (Specific sales figures for the quarter are not detailed in the provided snippet.)
• N/A — Total Liabilities (Specific dollar amounts for liabilities are not detailed in the provided snippet.)
• N/A — Retained Earnings (Specific dollar amounts for retained earnings are not detailed in the provided snippet.)

Key Players & Entities

• FLOWERS FOODS INC (company) — Filer
• Walmart (company) — Customer
• Sam's Club (company) — Customer
• 2024-10-05 (date) — Reporting Period End Date
• 2023-12-30 (date) — Balance Sheet Date

FAQ

Key Financial Figures

• $0.01 — nge on which registered Common Stock, $0.01 par value FLO NYSE Indicate by ch

Filing Documents

• flo-20241005.htm (10-Q) — 3679KB
• flo-ex31_1.htm (EX-31.1) — 14KB
• flo-ex31_2.htm (EX-31.2) — 14KB
• flo-ex32.htm (EX-32) — 13KB
• 0000950170-24-123679.txt ( ) — 17138KB
• flo-20241005.xsd (EX-101.SCH) — 2404KB
• flo-20241005_htm.xml (XML) — 3635KB

Financial Information

PART I. Financial Information 4 Item 1.

Financial Statements (Unaudited)

Financial Statements (Unaudited) 4 Condensed Consolidated Balance Sheets as of October 5, 2024 and December 30, 2023 4 Condensed Consolidated Statements of Income (Loss) for the Twelve and Forty Weeks Ended October 5, 2024 and October 7, 2023 5 Condensed Consolidated Statements of Comprehensive Income (Loss) for the Twelve and Forty Weeks Ended October 5, 2024 and October 7, 2023 6 Condensed Consolidated Statements of Changes in Stockholders' Equity for the Twelve and Forty Weeks Ended October 5, 2024 and October 7, 2023 7 Condensed Consolidated Statements of Cash Flows for the Forty Weeks Ended October 5, 2024 and October 7, 2023 9 Notes to Condensed Consolidated Financial Statements (unaudited) 10 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 37 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 52 Item 4.

Controls and Procedures

Controls and Procedures 53

Other Information

PART II. Other Information 54 Item 1.

Legal Proceedings

Legal Proceedings 54 Item 1A.

Risk Factors

Risk Factors 54 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 54 Item 3. Defaults Upon Senior Securities 54 Item 4. Mine Safety Disclosures 54 Item 5. Other Information 54 Item 6. Exhibits 55

Forward-Looking Statements

Forward-Looking Statements Forward-looking statements are based on current information and are subject to risks and uncertainties that could cause our actual results to differ materially from those projected. Certain factors that may cause actual results, performance, liquidity, and achievements to differ materially from those projected are discussed in this Quarterly Report on Form 10-Q (this "Form 10-Q") and may include, but are not limited to: unexpected changes in any of the following: (i) general economic and business conditions; (ii) the competitive setting in which we operate, including advertising or promotional strategies by us or our competitors, as well as changes in consumer demand; (iii) interest rates and other terms available to us on our borrowings; (iv) supply chain conditions and any related impact on energy and raw materials costs and availability and hedging counter-party risks; (v) relationships with or increased costs related to our employees and third-party service providers; (vi) laws and regulations (including environmental and health-related issues); an

FINANCIAL STA TEMENTS (UNAUDITED)

ITEM 1. FINANCIAL STA TEMENTS (UNAUDITED) FLOWERS FOODS, INC. CONDENSED CONSOLIDA TED BALANCE SHEETS (Amounts in thousands, except share data) (Unaudited) October 5, 2024 December 30, 2023 ASSETS Current assets: Cash and cash equivalents $ 14,975 $ 22,527 Accounts and notes receivable, net of allowances of $ 25,656 and $ 33,386 , respectively 387,356 328,246 Inventories, net: Raw materials 62,169 72,941 Packaging materials 26,991 28,743 Finished goods 80,552 82,813 Inventories, net 169,712 184,497 Spare parts and supplies 89,236 86,386 Other 46,445 66,057 Total current assets 707,724 687,713 Property, plant and equipment: Property, plant and equipment 2,547,879 2,500,531 Less: accumulated depreciation ( 1,600,177 ) ( 1,537,550 ) Property, plant and equipment, net 947,702 962,981 Financing lease right-of-use assets 213 130 Operating lease right-of-use assets 308,782 276,734 Notes receivable from independent distributor partners 112,333 123,571 Assets held for sale 25,198 21,799 Other assets 14,567 18,487 Goodwill 679,896 677,796 Other intangible assets, net 633,544 657,742 Total assets $ 3,429,959 $ 3,426,953 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Current maturities of long-term debt $ — $ — Current maturities of financing leases 107 99 Current maturities of operating leases 64,566 47,507 Accounts payable 286,919 318,600 Other accrued liabilities 217,469 292,946 Total current liabilities 569,061 659,152 Noncurrent long-term debt 1,054,143 1,048,144 Noncurrent financing lease obligations 10 23 Noncurrent operating lease obligations 251,120 236,872 Total long-term debt and right-of-use lease liabilities 1,305,273 1,285,039 Other liabilities: Postretirement/post-employment obligations 5,315 5,798 Deferred taxes 107,863 91

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View this 10-Q filing on SEC EDGAR