The Simply Good Foods Company Reports Fiscal First Quarter 2020 Financial Results; Updates Full Fiscal Year 2020 Outlook
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Simply Good Foods (SMPL) Tops Q1 EPS by 2c, Revenues Miss; Offers FY20 EPS Guidance Above Consensus
January 9, 2020 7:04 AM ESTSimply Good Foods (NASDAQ: SMPL) reported Q1 EPS of $0.22, $0.02 better than the analyst estimate of $0.20. Revenue for the quarter came in at $152.2 million versus the consensus estimate of $161.75 million.
First Quarter 2019 Financial Highlights vs. First Quarter 2018
Net sales increased 25.8%, or $31.2 million, to $152.2 millionGross profit margin of 40.9%, a decrease of 200 basis pointsIncludes a non-cash $2.4 million inventory purchase accounting step-up adjustment related to the Quest acquisitionIncome tax benefit was $1.7 million versus expense of $4.6 millionNet loss of $4.8 million vs. Net income of $15.3 millionAdjusted EBITDA(1) increased 19.1% to $31.8 millionEarnings... More