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By Will Feuer
Flowers Foods cut its full-year sales and adjusted profit outlook, citing a slow start to the year and softening demand for some categories. The Wonder Bread maker said its results were also hampered as Americans return to eating out more after the pandemic drove a surge in demand for at-home meals. The company lowered its full-year adjusted earnings outlook by 5 cents a share on both ends of the range. The company now expects sales of $5.09 billion to $5.14 billion, down from prior guidance of $5.18 billion to $5.24 billion. Shares fell 4.7%, to $27.50, in after-hours trading on Thursday.
DXC Technology’s full-year sales outlook came in below Wall Street analysts’ expectations. The IT-services said it expects fiscal 2024 sales of $14.4 billion to $14.55 billion, below analysts’ expectations of $14.58 billion, according to FactSet. In fiscal 2023, the company posted sales of $14.43 billion. The company’s fiscal fourth-quarter sales came in at $3.59 billion, below the $3.62 billion that analysts were expecting, according to FactSet. Shares fell 4.6%, to $22.75, in after-hours trading.
Presto Automation posted fiscal third-quarter sales of $6.6 million, down 12% from a year earlier. The company attributed the decline to the amortization of legacy contracts. Presto, which provides labor automation technology for the hospitality industry, also swung to a quarterly loss, citing change in the fair value of warrant liabilities and convertible promissory notes as well as stock-based compensation. Shares fell 5.7%, to $2.84, in after-hours trading.
Write to Will Feuer at Will.Feuer@wsj.com
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