FLOWERS FOODS INC Earnings Per Share Disclosure
Note 20. Earnings Per Share
The following is a reconciliation of net income and weighted average shares for calculating basic and diluted earnings per common share for Fiscal 2025, 2024, and 2023 (amounts in thousands, except per share data):
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|
Fiscal 2025 |
|
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Fiscal 2024 |
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Fiscal 2023 |
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Net income |
|
$ |
83,825 |
|
|
$ |
248,116 |
|
|
$ |
123,416 |
|
Basic Earnings Per Common Share: |
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|
|
|
|
|
|
|
|
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Basic weighted average shares outstanding per common share |
|
|
211,343 |
|
|
|
211,023 |
|
|
|
211,630 |
|
Basic earnings per common share |
|
$ |
0.40 |
|
|
$ |
1.18 |
|
|
$ |
0.58 |
|
Diluted Earnings Per Common Share: |
|
|
|
|
|
|
|
|
|
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Basic weighted average shares outstanding per common share |
|
|
211,343 |
|
|
|
211,023 |
|
|
|
211,630 |
|
Add: Shares of common stock assumed issued upon vesting of performance-contingent restricted stock and deferred stock |
|
|
764 |
|
|
|
1,114 |
|
|
|
1,726 |
|
Diluted weighted average shares outstanding per common share |
|
|
212,107 |
|
|
|
212,137 |
|
|
|
213,356 |
|
Diluted earnings per common share |
|
$ |
0.40 |
|
|
$ |
1.17 |
|
|
$ |
0.58 |
|
There were 1,839,440 anti-dilutive shares for Fiscal 2025. There was an immaterial amount of anti-dilutive shares for Fiscal 2024 and 287,510 anti-dilutive shares for Fiscal 2023.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2026 | Feb 25, 2026 | Showing above |
| 2024 | Feb 18, 2025 | |
| 2023 | Feb 21, 2024 | |
| 2022 | Feb 23, 2022 | |
| 2021 | Feb 24, 2021 | |
| 2019 | Feb 19, 2020 | |
| 2018 | Feb 20, 2019 | |
| 2017 | Feb 21, 2018 | |
| 2016 | Feb 23, 2017 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.