Simply Good Foods (NASDAQ: SMPL) reported Q3 EPS of $0.50, $0.02 better than the analyst estimate of $0.48. Revenue for the quarter came in at $334.8 million versus the consensus estimate of $336.75 million.

Outlook

While early, fourth quarter fiscal 2024 retail takeaway for Quest and Atkins are tracking to the Company’s estimates. As such, the Company reaffirms "legacy" Simply Good Foods, excluding OWYN, net sales outlook for the full fiscal year. Specifically, legacy net sales are expected to increase around the mid-point of the Company’s long-term algorithm of 4-6%, including the benefit of a fifty-third week. OWYN net sales are expected to be in the $25-30 million range for the balance of fiscal year 2024.

The year-to-date strong gross margin expansion has provided the Company with flexibility to meaningfully invest in marketing and growth initiatives to drive earnings growth. Therefore, for the full year fiscal 2024, the Company expects Adjusted EBITDA(3), including OWYN, to increase about 8% compared to last year and versus a previous estimate of 6-8%.

For earnings history and earnings-related data on Simply Good Foods (SMPL) click here.