Flowers Foods, Inc. (NYSE:FLO) announced its second‑quarter 2026 results, which fell short of analyst expectations and prompted a downward revision of its full‑year outlook. The company posted adjusted earnings per share of $0.21 for the quarter, missing the consensus estimate of $0.24 by $0.03. Revenue declined 4.0% year‑over‑year to $1.19 billion, below the $1.24 billion forecast, reflecting a favorable price/mix increase of 1.8% that was more than offset by a 5.8% volume decrease; net sales in the prior year were $1.24 billion.
Chairman and CEO Ryals McMullian attributed the results to continued challenges in the fresh packaged bread category, citing macroeconomic pressures, evolving consumer purchasing behavior, and sustained competitive activity that created a tougher operating environment than anticipated.
Adjusted EBITDA fell 19.2% to $111.3 million, representing 9.3% of net sales, a decline of 180 basis points from the prior year. The company cited a challenging consumer environment, higher marketing expense, and increased labor and freight costs as primary headwinds, partially offset by lower interest expense and moderating ingredient costs.
Branded Retail net sales decreased 3.8% to $794.6 million, driven by a 7.6% volume decline that was partially mitigated by a 3.8% favorable pricing/mix effect.
For fiscal 2026, Flowers Foods revised its adjusted EPS guidance to a range of $0.75‑$0.85, with a midpoint of $0.80, below the analyst consensus of $0.83. Revenue guidance was lowered to $5.07‑$5.142 billion, with a midpoint of $5.106 billion, trailing the consensus estimate of $5.167 billion.
Following the announcement, the company's shares declined 4.6% in after‑hours trading.