From GlobeNewswire: 2024-04-04 07:00:00

Simply Good Foods Company reported strong financial results for the second quarter of fiscal year 2024. Net sales were $312.2 million, with net income of $33.1 million and earnings per diluted share of $0.33. Adjusted EBITDA increased to $57.8 million. Quest brand drove sales growth, with Atkins performance slightly below estimates. Gross margin improved by 280 basis points, enabling investments in the business. Year-to-date, net sales were $620.9 million, with a net income of $68.7 million and adjusted EBITDA of $119.8 million. Cash provided by operating activities increased by 76% compared to the previous year. The company remains confident in the long-term potential of both Quest and Atkins brands, with plans for innovation and growth initiatives in place to drive increasing shareholder value. The company expects Net Sales to increase around the mid-point of its long-term algorithm of 4-6%, with Adjusted EBITDA anticipated to increase 6-8% driven by gross margin expansion. Overall, Simply Good Foods remains focused on executing its strategic priorities to deliver on growth objectives and drive shareholder value. The Company continues to have a solid outlook for full year fiscal 2024 Net Sales growth, driven by volume and supported by advertising, marketing, and innovation plans.



Read more at GlobeNewswire:: The Simply Good Foods Company Reports Fiscal Second Quarter