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Flowers Foods (FLO) earnings and revenue breakdown

Latest: Q2 2026 · 10-Q filed Aug 20, 2026 · Flowers Foods (FLO) Q2 2026 earnings results →

Q2 2026 Revenue down 4% year over year to $1.2B · 3¢ of every $1 of revenue kept as net profit · operating margin 5.7%

Flowers Foods made $1.2B in Q2 2026 (-4% Y/Y). Operating margin 5.7%, net earnings $40.7M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 20, 2026.

Revenue$1.2B
Year over year-4%
Operating margin5.7%
Net earnings$40.7M
Operating cash flow$134M

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Flowers Foods Q2 2026 revenue breakdown: Sankey diagram of revenue, costs, profit and cash flow
Flowers Foods Q2 2026 revenue breakdown — free to use with credit and a link (terms). Share on X
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What changed this quarter

Revenue was $1.2B in Q2 2026, down 4% year over year.

Operating profit was $0.07B, a 5.7% margin (down 1.8 points year over year). Total costs fell 2% while revenue fell 4%. Net earnings were $0.04B, down 30% year over year. The effective tax rate was 25.1%.

Operating cash flow was $0.13B (up 2% year over year), 329% of net earnings. Non-cash charges added back $0.04B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items added $0.05B. Capital expenditures of $0.02B left free cash flow of $0.11B.

Quarterly history

Flowers Foods revenue by quarterFlowers Foods revenue by quarter$1.1BQ4 2024$1.2BQ2 2025$1.2BQ3 2025$1.2BQ4 2025$1.2BQ2 2026
Flowers Foods net earnings by quarterFlowers Foods net earnings by quarter$43.1MQ4 2024$58.4MQ2 2025$39.5MQ3 2025−$67.1MQ4 2025$40.7MQ2 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q2 202610-QAug 20, 2026$1.2B-4%5.7%$40.7M$134M
Q4 202510-KFeb 25, 2026$1.2B+11%-5.8%−$67.1M$125M
Q3 202510-QNov 6, 2025$1.2B+3%5.4%$39.5M$54.4M
Q2 202510-QAug 15, 2025$1.2B+2%7.5%$58.4M$131M
Q4 202410-KFeb 18, 2025$1.1B-2%5.5%$43.1M$130M

Charts

Flowers Foods: revenue growth, year over year and quarter over quarterFlowers Foods: revenue growth, year over year and quarter over quarterY/YQ/Q-2%Q4 2024+2%+12%Q2 2025+3%-1%Q3 2025+11%+1%Q4 2025-4%-3%Q2 2026
Latest (Q2 2026): Y/Y -4%, Q/Q -3%.
Flowers Foods: where the cash came from (+) and went (−), TTM to Q2 2026Flowers Foods: where the cash came from (+) and went (−), TTM to Q2 2026Operating cash flow$421MDividends−$186MCapital spending−$115MNet borrowing (+) / repaid (−)−$65.1MCash drawn (+) / kept (−)−$41.7MOther financing−$8.6MBuybacks−$3.8MOther investing−$1.3MAcquisitions−$48K
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Flowers Foods: profit against cash, quarter by quarterFlowers Foods: profit against cash, quarter by quarterNet incomeOperating cash flow$35.7M$92.0MQ4 2023$67.0M$63.3MQ2 2024$65.0M$114MQ3 2024$43.1M$130MQ4 2024$58.4M$131MQ2 2025$39.5M$54.4MQ3 2025−$67.1M$125MQ4 2025$40.7M$134MQ2 2026
Latest (Q2 2026): Net income $40.7M, Operating cash flow $134M.
Flowers Foods: diluted shares by fiscal yearFlowers Foods: diluted shares by fiscal year212MFY2020213MFY2021213MFY2022213MFY2023212MFY2024212MFY2025
-0.1% since FY2020: buybacks shrank the count.
Flowers Foods: long-term debt falling due (FY2025)Flowers Foods: long-term debt falling due (FY2025)$400M2026$65.0M2027$5.0M2030$1.3BLater
Cash $12.1M, short-term investments —, long-term debt $1.8B at 2026-01-03.
Flowers Foods in its industry: growth against margin (16 companies, SIC 2000)Flowers Foods in its industry: growth against margin (16 companies, SIC 2000)revenue growth, year over year →↑ operating marginmedian -1%median 0%MDLZCAGCPBBRBRBGSSMPLHAINVITLOFRMBYNDLSFBRLSBOFUCFITRWDFLO (-4%, 6%)
Food and Kindred Products; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

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💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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Customers and suppliers named in filings

Sells to

About Flowers Foods

Headquartered in Thomasville, Ga., Flowers Foods, Inc. (NYSE: FLO) is one of the largest producers of packaged bakery foods in the United States with 2025 net sales of $5.3 billion. Flowers operates bakeries across the country that produce a wide range of bakery products. Among the company’s top brands are Nature’s Own , Dave’s Killer Bread , Canyon Bakehouse , Simple Mills , Wonder, and Tastykake . Learn more at www.flowersfoods.com.

In its own words, from its 8-K, filed Aug 20, 2026.

Flowers Foods against its Food and Kindred Products peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -4% against the peers' median -8%. Operating margin: 5.7% against the peers' median 9.0%.

CompanyQuarterRevenueY/YOp. margin
FLO Flowers FoodsQ2 2026$1.2B-4%5.7%
MDLZ Mondelez InternationalQ3 2026$10.0B+2%17.6%
CAG Conagra BrandsQ1 FY27$2.6B-1%10.3%
CPB Campbell'sQ4 FY26$2.1B-8%0.2%
BRBR Bellring BrandsQ3 FY26$570M+4%11.5%
BGS B&G FoodsQ2 2026$383M-10%9.0%
SMPL Simply Good FoodsQ4 FY26$333M-10%13.8%
HAIN Hain Celestial GroupQ4 FY26$263M-28%-21.2%
VITL Vital FarmsQ3 2026$182M-8%-4.2%

Source: Flowers Foods 10-Q on SEC EDGAR · CIK 1128928 · Food and Kindred Products

13F: who owns FLO and who is buying

Largest holders of FLO (13F)Largest holders of FLO (13F)BlackRock$274MVanguard Group$229MVanguard Portfolio Management LLC$109MFuller & Thaler Asset Management$86.8MVanguard Capital Management LLC$69.7MState Street$69.2MQuantinno Capital Management LP$67.4MCharles Schwab Investment Managem…$64.8MInvesco$58.8MAQR Capital Management LLC$56.6M
Funds' net buying of FLO by quarter (13F)Funds' net buying of FLO by quarter (13F)−$3.7M2024-09$34.0M2024-12$226M2025-03$168M2025-06−$25.9M2025-09$122M2025-12−$36.6M2026-03$320M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on FLO

History

Every quarter: Q2 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q4 2024 results

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