The Simply Good Foods Company reports strong financial results for third quarter of 2024.

From GlobeNewswire: 2024-06-27 07:00:00

Simply Good Foods reported financial results for the third quarter of 2024, excluding performance from OWYN due to acquisition. Net sales increased to $334.8 million, with net income of $41.3 million. Gross margin improved by 320 basis points. Full fiscal year 2024 outlook includes anticipated net sales growth and expected $25-30 million in OWYN net sales.

Third quarter results were led by Quest growth and improved Atkins trends, with retail takeaway of 5.0%. Gross margin improvement enabled investments and earnings growth. CEO Geoff Tanner highlighted successful Quest advertising and on-track Atkins revitalization plan. Acquisition of OWYN adds a third brand, strengthening market position.

Year-to-date third quarter 2024 highlights include net sales of $955.6 million, net income of $110 million and Adjusted EBITDA of $191.7 million. Sales driven by Quest volume, with gross margin improvement and increased net income. Operating expenses, selling and marketing expenses increased for the period, primarily due to investments in growth initiatives.



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