Flowers Foods narrows FY24 adjusted EPS view to $1.24-$1.28 from $1.20-$1.30

Narrows FY24 revenue view to $5.116B-$5.147B from $5.091B-$5.172B. Consensus is for FY24 EPS $1.25 and for revenue $5.14B. Sees FY24 depreciation and amortization $155M-$160M; net interest expense $20M-$24M; effective tax rate 25%; weighted average diluted share count for the year 212.5M shares; and Capital expenditures $130M-$140M, with $5M-$7M related to the ERP upgrade, compared to prior guidance in the range of $145M-$155M, with $3M-$6M related to the ERP upgrade.