Flowers Foods shares are trading lower after the company reported worse-than-expected Q3 revenue results and issued FY23 revenue guidance below estimates.
Portfolio Pulse from Benzinga Newsdesk
Flowers Foods' stock is trading lower due to the company reporting third-quarter revenue that fell short of expectations and providing full-year 2023 revenue guidance that was also below analyst estimates.
November 10, 2023 | 4:12 pm
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Flowers Foods reported disappointing Q3 revenue and provided FY23 guidance that did not meet analyst expectations, causing the stock to trade lower.
The negative impact on Flowers Foods' stock price is due to the company's reported earnings not meeting market expectations, which is a strong indicator of potential short-term bearish sentiment among investors. The issuance of lower-than-expected revenue guidance for the full year further compounds concerns about the company's near-term financial performance.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100