Welcome to our dedicated page for The Simply Good Foods Company news (Ticker: SMPL), a resource for investors and traders seeking the latest updates and insights on The Simply Good Foods Company stock.
The Simply Good Foods Company Common Stock (symbol: SMPL) operates as a consumer packaged food and beverage company serving North America and international markets. Headquartered in Denver, Colorado, the company focuses on developing, marketing, and selling a diverse range of low-carbohydrate, high-protein snacks and meal replacements under the Atkins™ and Quest™ brand names.
The company’s extensive product portfolio includes nutrition bars, ready-to-drink (RTD) shakes, sweet and salty snacks, protein bars, cookies, protein chips, and licensed frozen meals. These products cater to consumers seeking healthier snack options without sacrificing taste. Simply Good Foods distributes its products through multiple retail channels, including mass merchandise, grocery and drug stores, club stores, convenience stores, gas stations, and e-commerce platforms like Atkins.com, QuestNutrition.com, and Amazon.com.
Recently, the company launched notable marketing campaigns to increase brand awareness and relevance among new consumer demographics. For instance, the Atkins brand debuted its “Who Knew?” campaign featuring Rob Lowe, Wanda Sykes, and John Owen Lowe, aiming to challenge perceptions and highlight the brand’s delicious, low-carb offerings. Similarly, the Quest brand introduced its “It’s Basically Cheating” campaign with Kumail Nanjiani, emphasizing the taste and nutritional benefits of Quest products.
Financially, Simply Good Foods reported strong performance, reflecting its growth-oriented strategy and commitment to innovation. The company seeks to expand its wellness platform through organic growth and strategic investments in the snacking and broader food categories.
With a firm dedication to leading the nutritious snacking movement, Simply Good Foods continues to deliver great-tasting, better-for-you snacks and meal replacements, making it a notable player in the health-conscious food market.
The Simply Good Foods Company (NASDAQ: SMPL) has announced a CEO succession plan, naming Geoff Tanner as President, COO, and CEO Elect effective April 3, 2023, succeeding Joseph E. Scalzo on July 7, 2023. Scalzo will transition to Executive Vice Chair of the Board and will serve until August 31, 2024. Under Scalzo's leadership, the company experienced significant growth, increasing net sales from $369 million in 2016 to nearly $1.2 billion in 2022, achieving a 21.2% CAGR. Tanner brings over 20 years of experience in the food industry, previously with The J.M. Smucker Company, and is expected to drive continued growth and innovation at Simply Good Foods.
On January 24, 2023, Quest™, under Simply Good Foods (NASDAQ: SMPL), launched Quest Cheese Crackers, offering 10g of protein and 5g of net carbs per serving. This new product aims to provide a savory, nutritious snacking option for health-conscious consumers. In partnership with DJ Steve Aoki, Quest is promoting the product through the #QuestCheeseParty Challenge on TikTok, encouraging user engagement and interaction. The crackers are available at major retailers like Amazon, Target, and Walmart, supporting the company’s strategy to meet growing consumer demand for healthier snack options. Quest emphasizes taste paired with nutritional value in its expanding portfolio.
The Simply Good Foods Company (Nasdaq: SMPL) reported a 7.0% increase in net sales to $300.9 million for Q1 FY2023. Net income rose to $35.9 million, while earnings per diluted share increased to $0.36. However, gross profit declined by $5.6 million to $111.0 million, with a gross margin of 36.9%. The company reaffirmed its fiscal 2023 guidance, expecting net sales to grow slightly above the long-term 4-6% target. Challenges in logistics and contract manufacturing costs were noted, although an improved outlook for ingredient costs in H2 FY2023 was mentioned.
The Simply Good Foods Company (NASDAQ: SMPL) will report its fiscal first quarter results for the 13 weeks ending November 26, 2022, on January 5, 2023, before market open. A conference call will be held at 6:30 a.m. MT (8:30 a.m. ET) to discuss these results, featuring CEO Joseph E. Scalzo and CFO Shaun P. Mara. Interested investors can listen in via phone or through the company’s website. A replay of the call will be available until January 19, 2023.
The Simply Good Foods Company (NASDAQ: SMPL) announced the appointment of Shaun Mara as Chief Financial Officer, effective October 27, 2022. Previously the CFO of Atkins Nutritionals, Mara has extensive financial experience. He succeeds Todd E. Cunfer, who is resigning for personal reasons but will assist in the transition. Joseph E. Scalzo, CEO, expressed confidence in Mara's capabilities to drive sustainable growth. The company focuses on nutritional foods and plans to expand its wellness platform and snacking innovation.
The Simply Good Foods Company (Nasdaq: SMPL) reported a 5.5% increase in net sales to $274.2 million for Q4 2022, with net income rising to $30.1 million from $18.2 million, resulting in Earnings per Share (EPS) of $0.30. For fiscal 2022, net sales grew 16.2% to $1.17 billion. The company anticipates net sales growth exceeding 4-6% in fiscal 2023, despite challenges like supply chain cost inflation. A $50 million increase in share repurchase authorizations was also approved.
Simply Good Foods Company (NASDAQ: SMPL) announced that its largest stockholder, Conyers Park Sponsor, LLC, distributed all shares of the company's common stock to its unitholders. This pro rata distribution follows the planned schedule marking the fifth anniversary of the initial business combination that established Simply Good Foods. The majority of shares, about 8 million, were allocated to senior investment professionals associated with Centerview Capital Consumer, who currently intend to retain these shares and remain on the board.
The Simply Good Foods Company (NASDAQ: SMPL) will announce its financial results for the fourth quarter and full fiscal year 2022 on October 21, 2022, before market open. A conference call, featuring CEO Joseph E. Scalzo and CFO Todd Cunfer, will take place at 6:30 a.m. Mountain time (8:30 a.m. Eastern time) to discuss these results. Investors can access the call via phone or online. The company, known for brands like Atkins and Quest, focuses on nutritional foods and aims to enhance its wellness platform through innovation and growth.
The Simply Good Foods Company (Nasdaq: SMPL) reported strong third quarter results for the period ending May 28, 2022. Net sales rose by 11.5% to $316.5 million, driven by solid retail performance. Net income surged to $38.8 million from $5.9 million a year prior. Earnings per share increased to $0.38. The company anticipates full fiscal 2022 net sales growth of 14-15%, while adjusted EBITDA is expected to grow slightly less than net sales. However, fourth quarter sales may lag due to higher customer inventory levels.
The Simply Good Foods Company (NASDAQ: SMPL) will report its financial results for the fiscal third quarter ending May 28, 2022, on June 30, 2022, before market open. A conference call with CEO Joseph E. Scalzo and CFO Todd Cunfer will be held at 6:30 a.m. Mountain Time (8:30 a.m. Eastern Time) to discuss the results. Investors can participate by dialing 1-877-407-0792 or 201-689-8263 for international calls. The results will also be shared via a live broadcast on the Company's website.
FAQ
What is the current stock price of The Simply Good Foods Company (SMPL)?
What is the market cap of The Simply Good Foods Company (SMPL)?
What does The Simply Good Foods Company do?
Where is The Simply Good Foods Company headquartered?
What are some of the products offered by The Simply Good Foods Company?
Which retail channels does The Simply Good Foods Company use for distribution?
What is the focus of the Atkins brand campaign 'Who Knew?'?
What is the Quest brand's 'It's Basically Cheating' campaign about?
How has The Simply Good Foods Company performed financially?
What is Simply Good Foods' strategy for growth?
Where can I purchase Simply Good Foods products online?
Who can I contact for investor relations at The Simply Good Foods Company?
