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BRIEF-Flowers Foods says on track to achieve cost savings associated with project Centennial​
September 27, 2017 / 8:36 PM / 3 months ago

BRIEF-Flowers Foods says on track to achieve cost savings associated with project Centennial​

Sept 27 (Reuters) - Flowers Foods Inc

* Flowers Foods Inc - ‍on track to achieve cost savings associated with project centennial​

* Flowers Foods Inc - ‍expects to make incremental investments in 2018 to align its brands​

* Flowers Foods Inc - ‍company is “improving manufacturing efficiencies and reducing skus”​

* Flowers Foods Inc sees 2017 eps in range of $0.67 to $0.69

* Flowers Foods Inc sees ‍2017 sales flat to down 1%​

* Flowers Foods Inc sees 2017 adjusted EPS in range of $0.85 to $0.90

* Fy2017 earnings per share view $0.85 -- Thomson Reuters I/B/E/S

* Flowers Foods Inc - ‍maintains its previously communicated ebitda margin goal for fiscal 2018 of 12% to 13%​

* Flowers Foods Inc - ‍company is targeting long-term sales growth of 3% to 4%.​

* Flowers Foods Inc - ‍remains “confident” in its target of realizing 250bps of EBITDA margin expansion by fiscal 2021​

* Flowers Foods-sees non-cash charges related to pension settlement, trademark impairments from brand rationalization project to be recorded in q3 2017

* Flowers Foods Inc - ‍anticipated input cost inflation in range of $30 million to $40 million for 2018​

* Flowers Foods Inc says gross savings targets relative to fiscal 2016 of $25 million to $30 million for fiscal 2017​

* Flowers Foods Inc - ‍expects eps growth over long-term in range of 8 pct to 10 pct​

* Flowers Foods Inc - sees ‍gross savings targets of $70 million to $80 million for fiscal 2018 from PG&S, SCO, and other cost saving initiatives​ Source text for Eikon: Further company coverage:

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