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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 $50 million addition to its stock repurchase program, which now totals approximately $76.2 million. The initiative aims to reduce outstanding shares and enhance shareholder value. The company reported cash and cash equivalents of $51.5 million as of February 26, 2022, with a term loan debt of $431.5 million and a Net Debt to Adjusted EBITDA ratio of 1.6x. CFO Todd E. Cunfer expressed confidence in the company's long-term growth and financial flexibility for future investments.
The Simply Good Foods Company (Nasdaq: SMPL) reported a 28.7% increase in net sales for the second quarter ended February 26, 2022, reaching $296.7 million. Net income surged to $18.5 million, an improvement from a net loss of $26.2 million year-over-year. Adjusted EBITDA rose 27.1% to $54.2 million. Despite a projected net sales growth of 13-15% for fiscal 2022, the company anticipates challenges from supply chain costs and a European business exit. Adjusted diluted EPS is expected to grow at a rate exceeding adjusted EBITDA growth.
Quest, part of Simply Good Foods Company (Nasdaq: SMPL), announced the recipients of its inaugural Quest Rookie Challenge, awarding a total of $80,000 in grants. Four organizations—Los Courage Camps, Art in the Paint, Create Now, and Black People Will Swim—each received $20,000 to aid their community-focused initiatives. These grants aim to support local engagement and provide resources for at-risk youth and underserved communities. Quest plans to follow their progress over the next six months, promoting healthy lifestyles and community empowerment.
Simply Good Foods (NASDAQ: SMPL) will report its financial results for the fiscal second quarter ending February 26, 2022, on April 6, 2022, before market open. The call will begin at 6:30 a.m. Mountain Time (8:30 a.m. Eastern Time) with CEO Joseph E. Scalzo and CFO Todd Cunfer discussing the results. Investors can join the live call via telephone or through the company's website. A replay will be available post-call until April 20, 2022. Simply Good Foods focuses on nutritious snacks like bars and shakes under brands such as Atkins and Quest.
Simply Good Foods Company has announced a repricing of its outstanding $431.5 million Term Loan B, effective January 21, 2022. The applicable margin on the loan's interest rate will decrease by 50 basis points to 3.25%, while the SOFR floor will adjust from 1.00% to 0.50%. The loan's maturity date remains unchanged at July 7, 2024. This financial restructuring is expected to enhance the company's liquidity and financial flexibility.
The Simply Good Foods Company (NASDAQ:SMPL) announced the cashless exercise of 6.7 million private placement warrants by Conyers Park Acquisition Corp., resulting in the issuance of 4,830,761 shares. This increases Conyers Park's total holdings from 8,936,017 to 13,766,778 shares, raising the total outstanding shares of Simply Good Foods to 100,963,850. The Chairman, James M. Kilts, emphasized the company's solid business model and growth potential, particularly with their strong brands, Atkins® and Quest®.
The Simply Good Foods Company (Nasdaq: SMPL) reported a 21.7% increase in net sales to $281.3 million for the first quarter ended November 27, 2021, driven by strong performance from its Atkins and Quest brands. Gross profit was $116.6 million, with a gross margin of 41.4%, up 70 basis points. Net income fell to $21.2 million from $43.0 million year-over-year. The company adjusted its fiscal 2022 outlook, now expecting net sales growth of 12-14% and gross margin contraction of approximately 250 basis points due to supply chain inflation. Adjusted EBITDA rose 34.7% to $65.6 million.
The Simply Good Foods Company (NASDAQ: SMPL) will report its financial results for the first quarter ending November 27, 2021, on January 5, 2022, before market open. A conference call led by CEO Joseph E. Scalzo and CFO Todd Cunfer will commence at 6:30 a.m. Mountain Time. Interested investors can join via phone or online at the company’s website. The call will provide insights into the company’s performance and future strategies.
The Simply Good Foods Company (Nasdaq: SMPL) reported a strong fiscal 2021 fourth quarter with a 16.9% increase in net sales to $259.9 million, driven by solid performance from Atkins and Quest brands. Gross profit margin rose to 40.2%, net income reached $18.2 million, and earnings per share improved to $0.19. For fiscal 2022, the company anticipates net sales growth between 8-10%, despite a 1 percentage point headwind from exiting the European market. Adjusted EBITDA is expected to grow slightly faster than net sales.
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