United States

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

Wednesday, 27 Sep 2017 04:30pm EDT 

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​.