Q3 net sales up 2.6% to $324.8M; Adj. EBITDA up 5.2% to $66.6M; reaffirms FY2023 outlook

Simply Good Foods Co

2023-Q3 EPS reported $0.96 revenue$922,254,000

Net sales $324.8M (+2.6% YoY); net income $35.4M ($0.35 diluted EPS); adjusted diluted EPS $0.44 flat YoY.
Adjusted EBITDA $66.6M vs $63.3M; gross margin 36.7% down 80 bps YoY but sequentially up from Q2's 34.6%.
U.S. retail takeaway up ~11% combined measured+unmeasured; Quest +24%, Atkins -2%.
Reaffirmed FY2023: net sales slightly above 4-6% long-term algo; Adj. EBITDA growth slightly below net sales growth.
Term loan amendment lowered rate, extended maturity to March 2027; repaid $40M; net debt/Adj. EBITDA 1.1x.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Simply Good Foods Co reported the thirty-nine weeks ended May 27, 2023 results: revenue $922.3 million, net income $96.9 million, EPS $0.96 per diluted share. Guidance reaffirmed.

Period: the thirty-nine weeks ended May 27, 2023
Revenue: $922.3 million
Net income: $96.9 million
EPS: $0.96 per diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Net sales were $922.3 million versus $894.5 million • Net income (2) of $96.9 million versus $78.4 million • Earnings per diluted share (“EPS”) (2) of $0.96 versus $0.78 • Adjusted Diluted EPS (3) of $1.18 versus $1.23 • Adjusted EBITDA (4) of $178.3 million versus $183.1 million

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Simply Good Foods Co reported the third quarter ended May 27, 2023 results: revenue $324.8 million, net income $35.4 million, EPS $0.35 per diluted share. Guidance reaffirmed.

Period: the third quarter ended May 27, 2023
Revenue: $324.8 million
Net income: $35.4 million
EPS: $0.35 per diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Third Quarter Summary: (1) • Net sales of $324.8 million versus $316.5 million • Net income (2) of $35.4 million versus $38.8 million • Earnings per diluted share (“EPS”) (2) of $0.35 versus $0.38 • Adjusted Diluted EPS (3) of $0.44, the same as the year ago period • Adjusted EBITDA (4) of $66.6 million versus $63.3 million

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Source: SEC EDGAR

accession 0001702744-23-000046

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