secwatch.observer — SEC 8-K summary
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Issuer:     Simply Good Foods Co (SMPL)
CIK:        0001702744
Form:       8-K
Filed at:   2024-06-27T23:59:59+00:00
Accession:  0001702744-24-000043
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Simply Good Foods Q3 EPS beats; raises FY24 adj. EBITDA outlook to ~8% growth; OWYN acquired
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- Net sales $334.8M (+3.1% YoY); net income $41.3M; diluted EPS $0.41; adjusted diluted EPS $0.50 vs $0.44 YoY.
- Gross margin 39.9%, up 320 bps YoY, driven by lower input costs; adjusted EBITDA $71.9M vs $66.6M YoY.
- Completed OWYN acquisition on June 13 for $280M cash + $250M incremental term loan; OWYN expected to add $25-30M net sales in FY24.
- Full-year legacy net sales reaffirmed at mid-point of 4-6% growth; total adj. EBITDA growth raised to ~8% from prior 6-8%.
- Quest retail takeaway +13%; Atkins -5%; net debt target ~1.25x adj. EBITDA by fiscal year-end.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1702744/000170274424000043/0001702744-24-000043-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1702744/000170274424000043/atk-20240627.htm
  HTML page:      https://secwatch.observer/filing/0001702744-24-000043

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