secwatch.observer — SEC 8-K summary
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Issuer:     Simply Good Foods Co (SMPL)
CIK:        0001702744
Form:       8-K
Filed at:   2022-01-05T23:59:59+00:00
Accession:  0001702744-22-000003
Event type: earnings
Sentiment:  neutral
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Simply Good Foods Q1 net sales +21.7%; ups FY22 sales outlook to 12-14% but sees 250bps gross margin contraction
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- Net sales $281.3M (+21.7%); Atkins & Quest retail takeaway +7.7% and +36.2% in measured channels.
- GAAP EPS $0.22 (vs $0.23); adjusted diluted EPS $0.43 (vs $0.29); adjusted EBITDA $65.6M (+34.7%).
- Raises FY22 net sales growth outlook from 8-10% to 12-14%; gross margin now expected to contract ~250bps (vs modest contraction previously).
- FY22 Adjusted EBITDA now seen increasing slightly less than net sales (previously slightly greater); supply chain cost inflation persists.
- Term loan repaid $25M; net debt to adjusted EBITDA 1.8x; cash $35.4M as of Nov 27, 2021.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1702744/000170274422000003/0001702744-22-000003-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1702744/000170274422000003/atk-20220105.htm
  HTML page:      https://secwatch.observer/filing/0001702744-22-000003

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