Simply Good Foods (SMPL) Reports Q1 EPS of $0.18, Revenues Miss

Simply Good Foods (NASDAQ: SMPL) reported Q1 EPS of $0.18, versus $0.14 reported last year. Revenue for the quarter came in at $120.9 million versus the consensus estimate of $122.51 million.

“I'm pleased that we delivered a solid first quarter with strong net sales, earnings and point of sales growth,” said Joseph E. Scalzo, President and Chief Executive Officer of Simply Good Foods. “Our business continues to be driven by strong base velocity gains of our core products. We maintained our retail momentum with U.S. retail takeaway for the thirteen weeks ended November 24, 2018, up 23.5%. Net sales increased 13.5% and was driven by volume, offset partially by non-price related trade, resulting in double-digit gross profit and adjusted EBITDA(1) growth. As expected, retail takeaway growth exceeded net sales as we worked with our manufacturing network partners to secure additional supply to keep pace with robust demand. Our strong start to the year and progress in securing more supply give us confidence in our ability to deliver full-year net sales and adjusted EBITDA(1) that will exceed our long-term financial target.”

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

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