FLO on NYSE

Flowers Foods

Logo: flowersfoods.com5

Commercial bakery company in the United States

Flowers Foods, Inc., headquartered in Thomasville, Georgia, is a producer and marketer of packaged bakery foods in the United States. The company operates 44 bakeries across 19 states that produce a variety of products, including bread, buns, snack cakes, rolls, tortillas and pastries.3 From Wikipedia, CC BY-SA 4.0

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Last updated Oct 19, 2026.

Overview

$5.3BRevenue, fiscal 20266
$83.8MNet income, fiscal 20266
1919Founded1

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  • TickerFLO on NYSE1
  • IndustryFood and Kindred Products1
  • HeadquartersThomasville1
  • Websitewww.flowersfoods.com
  • Incorporated inGA7
  • Business address1919 Flowers Circle, Thomasville, Ga 317577
  • Filer categoryLarge accelerated filer7
  • Legal formProfit Corporation4
  • LEI7YNCQQNDK8FBM9BBTK254
  • StatusActive4
  • LEI statusIssued and current4
  • Registered addressC/O CORPORATION SERVICE COMPANY, 30092 Peachtree Corners, United States4
  • Registered withGeorgia Secretary of State Corporations Division, 00462734
Flowers Bakery Headquarters, Thomasville
Photo: Michael Rivera, CC BY-SA 3.0, via Wikimedia Commons9

Flowers Foods, Inc., headquartered in Thomasville, Georgia, is a producer and marketer of packaged bakery foods in the United States. The company operates 44 bakeries across 19 states that produce a variety of products, including bread, buns, snack cakes, rolls, tortillas and pastries. As of February 2013, Flowers Foods had grown to be the "second-largest baking company in the United States."3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2026

3.3%Operating margin6
1.6%Net margin6
6.4%Return on equity6
1.04×Debt to equity6
$319.1MFree cash flow6

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Branded Retail brought in 66% of the revenue Flowers Foods broke down this way in fiscal 2025.

  1. Branded Retail$3.5B666%up 6% from 2024
  2. Other$1.8B634%down 3% from 2024
Products and services by year
Products and services202320242025
Branded Retail$3.3B$3.3B$3.5B
Other$1.8B$1.8B$1.8B

Where the money goes

Where each dollar of revenue went, fiscal 2026

  • Research and development0¢$9.3K
  • Selling, general and admin39¢$2.1B
  • Other costs57¢$3.0B
  • Interest1¢$76.7M
  • Income tax1¢$31.2M
  • Profit2¢$83.8M

Out of $5.3B in revenue.6

Where each dollar of operating cash went, fiscal 2026

  • Capital spending28¢$127.1M
  • Dividends paid47¢$209.3M
  • Share buybacks1¢$5.5M
  • Kept or used elsewhere23¢$104.3M

Out of $446.2M of cash from operations.6

Financial statements

Revenue1011126$5.3B in 2026+27% since 2019
0$2.0B$4.0B$6.0B2019: $4.1B$4.1B20192021: $4.4B$4.4B2021+6%2022: $4.8B$4.8B2022+10%2023: $5.1B$5.1B2023+6%2024: $5.1B$5.1B2024+0%2026: $5.3B$5.3B2026+3%
Operating income1011126$174.0M in 2026−23% since 2019
0$100.0M$200.0M$300.0M$400.0M2019: $225.4M$225.4M20192021: $321.5M$321.5M2021+43%2022: $303.2M$303.2M2022−6%2023: $172.9M$172.9M2023−43%2024: $348.3M$348.3M2024+101%2026: $174.0M$174.0M2026−50%
Net income1011126$83.8M in 2026−49% since 2019
0$100.0M$200.0M$300.0M2019: $164.5M$164.5M20192021: $152.3M$152.3M2021−7%2022: $228.4M$228.4M2022+50%2023: $123.4M$123.4M2023−46%2024: $248.1M$248.1M2024+101%2026: $83.8M$83.8M2026−66%

Every line of the income statement as filed: the last 3 fiscal years, latest first.6

Period ending2025-12-312024-12-312023-12-31
Net sales$5.3B$5.1B$5.1B
Materials, supplies, labor and other production costs (exclusive of depreciation and amortization shown separately below)$2.7B$2.6B$2.6B
Selling, distribution and administrative expenses$2.1B$2.0B$2.1B
Depreciation and amortization$167.4M$159.2M$151.7M
Restructuring charges$6.1M$7.4M$7.1M
Plant closure costs and impairment of assets$7.4M$10.3M$7.3M
Impairment of intangible assets$136.0M
Loss on inferior ingredients$2.7M
Income from operations$174.0M$348.3M$172.9M
Interest expense$76.7M$37.1M$36.6M
Interest income-$17.4M-$17.5M-$20.6M
Other components of net periodic pension and postretirement benefits credit-$381.0K-$273.0K-$269.0K
Income before income taxes$115.1M$328.9M$157.1M
Income tax expense$31.2M$80.8M$33.7M
Net income$83.8M$248.1M$123.4M
Net income per common share$0.40$1.18$0.58
Weighted average shares outstanding211.3M shares211.0M shares211.6M shares
Net income per common share$0.40$1.17$0.58
Weighted average shares outstanding212.1M shares212.1M shares213.4M shares
Cash dividends paid per common share$0.98$0.95$0.91

Compare Flowers Foods with another company

The story

1914–1942

In 1914, brothers William Howard and Joseph Hampton Flowers founded the Flowers Ice Cream Company in Thomasville, Georgia. To meet local demand for fresh bread, they established the Flowers Baking Company in 1919. The bakery initially sold 500 loaves of "Flowers Quality Bread" on its first morning, utilizing modern equipment capable of producing 30,000 loaves daily. Throughout the 1920s, the company expanded its distribution of bread, rolls, and cakes via rail into southern Georgia, Alabama, and Florida.

During the company's early years, William Howard Flowers managed the bakery while Joseph Hampton Flowers oversaw the ice cream operations. In 1929, the firm completed its first divestiture by selling the ice cream division to Foremost Dairies. Following the death of William Howard Flowers in 1934, his son, William Howard Flowers Jr., assumed leadership of the bakery.

The company made its first acquisition in 1937 by purchasing the Tally Maid Bakery of Tallahassee, Florida. During World War II, the bakery operated continuously to supply bread to U.S. military camps across the southeastern United States. In 1942, Flowers became the sixth bakery in the country to franchise Quality Bakers of America's Sunbeam brand, incorporating the Little Miss Sunbeam mascot on its packaging.

1960s–1980s

During the 1960s, Flowers expanded by purchasing bakeries in Panama City, Florida and Opelika, Alabama. The company constructed a new bakery in Jacksonville, Florida in 1965, and entered the metropolitan Atlanta market two years later by acquiring the Atlanta Baking Company.

In 1968, the company launched an initial public offering, changed its name to Flowers Industries Inc., and began trading over-the-counter. The following year, the company listed on the American Stock Exchange. The stock offering raised over $2 million, funding a series of acquisitions of bakeries across Virginia, Alabama, Louisiana, and the Carolinas. Flowers entered the frozen foods market in 1976 by purchasing Stilwell Foods, a frozen vegetable producer.

To accommodate its growth, the company moved its headquarters in 1975 to a new 15-acre corporate complex south of Thomasville, Georgia. Flowers listed on the New York Stock Exchange in 1982 under the ticker symbol "FLO" and debuted on the Fortune 500 list of the largest U.S. industrial corporations the following year at number 470. During the 1980s, the company temporarily diversified into selling sandwiches and cookies, exiting both ventures by the end of the decade while continuing to acquire bakeries across the southeastern and southwestern United States.

1990s–present

In 1996, Flowers Industries expanded its portfolio by acquiring the Mrs. Smith's frozen dessert brand and entering a joint venture to purchase the Keebler Company. By the early 2000s, the company refocused on its core snack cake and bread operations. It divested its interest in Keebler Company in 2001 for $1.2 billion, subsequently restructuring and rebranding as Flowers Foods. The company then sold Mrs. Smith's in 2003.

Flowers Foods continues to pursue acquisitions to expand into emerging product categories. These initiatives include targing the Hispanic market with its Mi Casa tortilla line, and offering organic products—such as Dave's Killer Bread and Alpine Valley Bread—alongside keto-friendly items and smaller loaf variations under its Nature's Own Brand.

From Wikipedia’s article on Flowers Foods, shared under CC BY-SA 4.0.8

Leadership

Who has led Flowers Foods, and when. Pick a name to see everywhere that person has worked.

Board members and other officers (45)

Products and brands

  • Wonder Bread

Listed on Wikidata.1

Subsidiaries and ownership

Also owns

From Wikidata.1

Acquisitions

In 1976, the company entered the frozen foods market by acquiring Stilwell Foods of Stilwell, Oklahoma, along with its Rio Grande Foods unit in McAllen, Texas. In 1996, Flowers acquired both the Keebler Company and Mrs. Smith's Pies. However, in 2001 it sold its investment in Keebler to the Kellogg Company. Its remaining business units, Flowers Bakeries and Mrs. Smith's Bakeries, were spun off into a new entity named Flowers Foods. In 2002, the company restructured into three divisions: Flowers Bakeries, Flowers Snack, and Mrs. Smith's Bakeries.

In late 2002, Flowers purchased Ideal Baking Company and acquired Bishop Baking Company from Kellogg, expanding its presence into north Arkansas, southern Missouri, and parts of Tennessee, including Memphis. In 2003, Flowers sold its Mrs. Smith's frozen dessert business to the Schwan Food Company and renamed the Flowers Snack division, resulting in two divisions: Flowers Bakeries and Flowers Specialty.

In 2005, Flowers acquired Royal Cake Company and continued operating its bakery in Winston-Salem, North Carolina. In February 2006, Flowers purchased Derst Baking Co. of Savannah, Georgia, which retained its name under the Flowers Foods Bakeries Group. In 2008, Flowers acquired ButterKrust Bakery in Lakeland, Florida and Holsum Bakery in Phoenix. In 2009, the company purchased Leo's Foods, a tortilla manufacturer.

Acquisitions continued into the 2010s. In 2011, Flowers acquired Philadelphia-based snack cake maker Tastykake, expanding into the mid-Atlantic region. In 2012, it purchased Lepage Bakeries in Maine and acquired assets and licenses from Bimbo Bakeries for the Sara Lee and Earthgrains brands in California and Oklahoma City. In 2013, the company purchased most of the bread brands of Hostess Brands, including Wonder Bread, along with 20 closed Hostess bakeries.

Read the full text

Flowers Foods made three acquisitions in 2015: Dave's Killer Bread of Milwaukie, Oregon, for $275 million in cash; Alpine Valley Bread Co., an organic bakery in Mesa, Arizona; and the North American rights to the Roman Meal trademark for bread, buns, and rolls. At the end of 2018, Flowers Foods acquired Canyon Bakehouse, a privately held gluten-free bread company based in Johnstown, Colorado. With that purchase, the company had acquired 16 companies since 2003.

Flowers Foods bought Papa Pita for an undisclosed amount in 2023. Most recently, in the first quarter of 2025, Flowers Foods acquired Simple Mills for $795 million in cash.

From Wikipedia’s article on Flowers Foods, shared under CC BY-SA 4.0.8

Timeline

  1. May 28, 2019New chief executive Ryals McMullian becomes CEO17
  2. Jun 4, 2013New chief executive Allen L. Shiver becomes CEO18
  3. Jan 5, 2006New chief executive George E. Deese becomes CEO19
  4. 1919Founded Founded1

Filings

376 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 44 major events, 251 insider forms, 20 large holders, 41 other. The latest 20:

  1. Oct 13, 20264 PRIMARY DOCUMENT EDGAR
  2. Oct 8, 2026144 EDGAR
  3. Aug 28, 2026S-3ASR EDGAR
  4. Aug 28, 20268-K EDGAR
  5. Aug 20, 202610-Q EDGAR
  6. Aug 20, 20268-K EDGAR
  7. Aug 7, 2026SCHEDULE 13G EDGAR
  8. Jul 31, 2026SCHEDULE 13G/A EDGAR
  9. Jul 28, 2026SCHEDULE 13G/A EDGAR
  10. Jun 18, 202611-K EDGAR
  11. Jun 16, 20264 PRIMARY DOCUMENT EDGAR
  12. Jun 10, 20264 PRIMARY DOCUMENT EDGAR
  13. Jun 8, 20264 PRIMARY DOCUMENT EDGAR
  14. Jun 5, 20268-K EDGAR
  15. Jun 4, 2026SCHEDULE 13G/A EDGAR
  16. Jun 2, 20268-K EDGAR
  17. Jun 1, 20264 PRIMARY DOCUMENT EDGAR
  18. Jun 1, 20264 PRIMARY DOCUMENT EDGAR
  19. Jun 1, 20264 PRIMARY DOCUMENT EDGAR
  20. Jun 1, 20264 PRIMARY DOCUMENT EDGAR

The 376 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

22 open-market trades by officers, directors and large owners since October 2021: 12 buys and 10 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Jun 8, 2026SCAGLIONE DIEGO ANTHONYChief Financial OfficerBuy5,000$7.51$37.5KForm 4
Apr 1, 2026McMullian RyalsChairman and CEOSale209,000$8.03$1.7MForm 4
Jan 2, 2026McMullian RyalsChairman and CEOSale209,000$10.87$2.3MForm 4
Dec 3, 2025STITH MELVIN TDirectorBuy456$10.90$5.0KForm 4
Sep 25, 2025McMullian RyalsChairman and CEOSale350,000$12.83$4.5MForm 4
Sep 9, 2025Cox CindyChief Human Resources OfficerSale3,600$15.00$54.0KForm 4
May 27, 2025DEESE GEORGE EDirectorBuy6,000$16.84$101.0KForm 4
May 27, 2025McFadden William JamesonDirectorBuy3,000$16.92$50.8KForm 4
May 27, 2025Chubb Thomas Caldecot IIIDirectorBuy3,000$16.88$50.6KForm 4
Apr 2, 2024Casey Edward J. Jr.DirectorBuy5,000$23.55$117.8KForm 4
Mar 11, 2024THOMAS TERRY SChief Growth OfficerSale36,577$23.11$845.3KForm 4
Dec 20, 2023KINSEY R STEVEChief Financial OfficerBuy1,780$22.46$40.0KForm 4
Dec 19, 2023TILLMAN STEPHANIE BChief Legal CounselBuy700$22.37$15.7KForm 4
Dec 18, 2023McMullian RyalsChairman and CEOBuy9,100$21.99$200.1KForm 4
Jun 28, 2023COURTNEY H MARKChief Brand OfficerSale14,272$24.39$348.1KForm 4
Dec 20, 2022Chubb Thomas Caldecot IIIDirectorBuy2,000$28.42$56.8KForm 4
Aug 23, 2022Chubb Thomas Caldecot IIIDirectorBuy3,000$27.50$82.5KForm 4
Aug 18, 2022McMullian RyalsChairman and CEOSale143,020$27.97$4.0MForm 4
Jul 20, 2022STITH MELVIN TDirectorBuy7$26.80$195Form 4
Jun 2, 2022McMullian RyalsChairman and CEOSale9,400$26.40$248.2KForm 4

All 22 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.34,631,216$273.6M0.0%+14,612,794
Vanguard Portfolio Management LLC13,811,454$109.1M0.0%+3,053,268
Fuller & Thaler Asset Management, Inc.10,983,938$86.8M0.2%−364,874
Vanguard Capital Management LLC8,826,026$69.7M0.0%+94,851
State Street Corp8,756,329$69.2M0.0%−3,211,278
Quantinno Capital Management LP8,527,936$67.4M0.1%+5,131,382
Charles Schwab Investment Management Inc8,196,732$64.8M0.0%+1,679,440
Invesco Ltd.7,444,845$58.8M0.0%+2,189,100
Aqr Capital Management LLC7,163,993$56.6M0.0%+2,821,864
Gotham Asset Management, LLC6,650,995$52.5M0.1%+6,174,229
Morgan Stanley5,949,191$47.0M0.0%+2,134,166
Dimensional Fund Advisors LP5,264,867$41.6M0.0%−2,280,286
Geode Capital Management, LLC5,224,816$41.3M0.0%+1,247,088
UBS Group AG4,842,232$38.3M0.0%+658,688
Goldman Sachs Group Inc4,634,570$36.6M0.0%+2,244,886
MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.4,493,625$35.5M0.0%+2,968,104
Fmr LLC3,720,124$29.4M0.0%+3,065,518
Two Sigma Investments, LP2,420,213$19.1M0.0%+1,551,906
Northern Trust Corp2,321,861$18.3M0.0%+539,196
Bank Of America Corp /de/2,299,753$18.2M0.0%+437,286
Pine Valley Investments Ltd Liability Co1,987,882$15.7M0.7%New
Magarian Capital Management, LLC1,803,177$14.2M4.6%New
Bank of New York Mellon Corp1,527,897$12.1M0.0%−242,458
Southeast Asset Advisors, LLC1,506,841$11.9M1.2%+113,307
Man Group plc1,497,487$11.8M0.0%+869,812

13F reports cover disclosed long positions in U.S. stocks only.

Members of Congress who traded it

7 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.

DateMemberTradeAmountVs S&P sinceFiling
Sep 11, 2025Lisa C. McClainRepublican, HouseSale$1,001 - $15,000+74.5%Report
Aug 4, 2025Lisa C. McClainRepublican, HouseBuy$1,001 - $15,000−84.3%Report
Jun 11, 2025Lisa C. McClainRepublican, HouseSale$1,001 - $15,000+90.8%Report
Jun 9, 2025Lisa C. McClainRepublican, HouseBuy$1,001 - $15,000−92.2%Report
Apr 10, 2023Daniel S. GoldmanDemocratic, HouseSale$15,001 - $50,000+165.9%Report
Mar 6, 2023Daniel S. GoldmanDemocratic, HouseBuy$15,001 - $50,000−168.9%Report
Mar 28, 2022Virginia FoxxRepublican, HouseSale$50,001 - $100,000+145.1%Report

Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).

Sources

The numbers on this page point here. Each one links to the record it came from.

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    Company websiteFlowers Foods logo
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