Simply Good Foods Q1 net sales +7% to $300.9M, Adj. EBITDA $60.8M vs $65.6M; reaffirms FY outlook

Simply Good Foods Co

2023-Q1 EPS reported $0.36 revenue$300,878,000

Net sales $300.9M (+7.0%); net income $35.9M vs $21.2M; Diluted EPS $0.36 vs $0.22.
Adjusted Diluted EPS $0.42 vs $0.43; Adjusted EBITDA $60.8M vs $65.6M.
Gross margin 36.9% (down 450bps) due to logistics and contract manufacturer cost overruns.
Reaffirmed FY2023: net sales slightly above 4-6% growth; Adj. EBITDA in line with net sales growth rate.
Repurchased $16.4M in common stock at avg $30.11; repaid $6.5M term loan; cash $54.1M.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Simply Good Foods Co reported first quarter ended November 26, 2022 results: revenue $300.9 million, net income $35.9 million, EPS $0.36.

Period: first quarter ended November 26, 2022
Revenue: $300.9 million
Net income: $35.9 million
EPS: $0.36
Result: reported results

Exact text from the filing

algorithm and that Adjusted EBITDA will increase in line with the net sales growth rate.” Fiscal First Quarter 2023 Results Net sales increased $19.6 million, or 7.0%, to $300.9 million versus the year ago period. Net price realization was about a 9.8 percentage point contribution to net sales growth and volume was off about 1.7 percentage points. The March 2022

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Simply Good Foods Co updated its full fiscal year 2023 guidance (reaffirmed).

Period: full fiscal year 2023
Guidance: reaffirmed
Result: guidance update

Exact text from the filing

Reaffirm fiscal year 2023 Net Sales and Adjusted EBITDA (4) outlook: • Net sales expected to increase slightly greater than the Company's long-term algorithm of 4-6%, including a headwind of almost 1 percentage point related to the frozen pizza licensing • Adjusted EBITDA (4,5) anticipated to increase in line with the net sales growth rate

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Source: SEC EDGAR

accession 0001702744-23-000005

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