Flowers Foods, Inc. (NYSE:FLO) Q3 2024 Earnings Conference Call November 8, 2024 8:30 AM ET

Company Participants

J.T. Rieck - Executive Vice President, Finance & Investor Relations
Ryals McMullian - Chairman & Chief Executive Officer
Steve Kinsey - Chief Financial Officer

Conference Call Participants

Steve Powers - Deutsche Bank
Bill Chappell - Truist Securities
Robert Dickerson - Jefferies
Jim Salera - Stephens
Mitchell Pinheiro - Sturdivant & Company
Max Gumport - BNP Paribas

Operator

Good morning, and thank you for standing by. Welcome to the Flower Foods Third Quarter 2024 Results Conference Call. Please be advised that today's event is being recorded.

I would now like to hand the conference over to your opening speaker today, J.T. Rieck, Executive Vice President of Finance and Investor Relations. Please go ahead.

J.T. Rieck

Thank you, Josh, and good morning. I hope everyone had the opportunity to review our earnings release, listen to our prepared remarks and view the slide presentation posted earlier on our Investor Relations website. After today's Q&A session, we will also post an audio replay of this call.

Please note that in this Q&A session, we may make forward-looking statements about the company's performance. Although we believe these statements to be reasonable, they are subject to risks and uncertainties that could cause actual results to differ materially. In addition to what you hear in these remarks, important factors relating to Flowers Foods business are fully detailed in our SEC filings. We also provide non-GAAP financial measures for which disclosure and reconciliations are provided in the earnings release and at the end of the slide presentation on our website.

Joining me today are Ryals McMullian, Chairman and CEO; and Steve Kinsey, our CFO. Ryals, I'll turn it over to you.

Ryals McMullian

Okay. Good morning, everybody. We're quite pleased with the strong performance of our leading brands in what continues to be a pretty challenging environment. While consumers' value-seeking behavior pressured category sales, we did grow dollars and units in fresh packaged breads. And that growth drove the largest share gains in the category, which validates our investments in differentiation. In our other segment, execution of our portfolio strategy enabled sales growth as strong pricing initiatives more than offset volume losses.

As we look to close out the year and look ahead to 2025, we remain focused on enhancing shareholder value, of course, and delivering results consistent with our long-term financial targets. That process includes maximizing our opportunities in areas that we can control by targeting pockets of growth in branded retail, margining up our private label and Away-from-Home businesses and executing on our cost savings plan.