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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.
The Simply Good Foods Company (NASDAQ: SMPL) will announce its financial results for the 13-week fiscal fourth quarter ending August 28, 2021, on October 22, 2021, before market open. The company will host a conference call at 6:30 a.m. MT (8:30 a.m. ET) featuring CEO Joseph E. Scalzo and CFO Todd Cunfer. Investors can participate by calling specific numbers or tuning into the live broadcast on the company's website. A replay will be available until November 5, 2021.
The Simply Good Foods Company (Nasdaq: SMPL) reported significant financial results for the thirteen weeks ending May 29, 2021. Net sales surged by 32.0% to $284.0 million, primarily driven by strong performances from Atkins and Quest brands. However, net income decreased to $5.9 million from $48.1 million in the prior year due to non-cash charges related to warrant liabilities. The company raised its full-year guidance, projecting net sales of $995-1,005 million and Adjusted EBITDA of $200-205 million, reflecting positive trends from improving consumer mobility.
The Simply Good Foods Company (NASDAQ: SMPL) will release its fiscal third quarter financial results for the period ending May 29, 2021, on July 1, 2021, prior to market opening. A conference call hosted by CEO Joseph E. Scalzo and CFO Todd Cunfer will begin at 6:30 a.m. MT (8:30 a.m. ET) to discuss these results further. Investors can join the call by dialing 1-877-407-0792 or 201-689-8263 for international access. The presentation will also be available on the company's website. A replay will be accessible until July 15, 2021.
Simply Good Foods (Nasdaq: SMPL) announced a restatement of its financial statements following SEC guidance regarding the accounting for warrants from its 2017 SPAC merger. The restatement involves reclassifying public and private placement warrants from equity to liabilities, leading to an estimated liability increase of $110 million to $130 million for the quarter ended February 27, 2021. This adjustment does not impact cash flows or previously reported operating metrics. The company has about 6.7 million warrants remaining outstanding.
Simply Good Foods Company (NASDAQ: SMPL) announced its participation in a virtual fireside chat at the Goldman Sachs Global Staples Forum on May 18, 2021, at 10:30 a.m. ET. The event will be accessible via a live audio webcast on the company’s website and archived for 30 days. Headquartered in Denver, Simply Good Foods focuses on branded nutritional foods, including nutrition bars and shakes. With brands like Atkins and Quest, the company aims to lead in the nutritious snacking category, emphasizing innovation and growth in the food market.
The Simply Good Foods Company (Nasdaq: SMPL) reported a 1.5% increase in net sales to $230.6 million for the 13 weeks ended February 27, 2021, driven by strong e-commerce and Quest brand performance. Net income rose to $19.1 million compared to $10.7 million in the prior year, with earnings per diluted share increasing to $0.19. The company's full-year outlook expects net sales between $930-940 million and Adjusted EBITDA of $180-185 million. Despite challenges, the company is positioned for growth with ongoing investments and effective cost control measures.
The Simply Good Foods Company (NASDAQ: SMPL) will report its financial results for the fiscal second quarter ending February 27, 2021, on April 7, 2021. A conference call will occur at 6:30 a.m. MT (8:30 a.m. ET) featuring CEO Joseph E. Scalzo and CFO Todd Cunfer. Investors can join via phone or stream live from the company’s website. A replay will be available until April 21, 2021. Simply Good Foods specializes in nutritional brands like Atkins and Quest, focusing on innovation and growth in the wellness and snacking sectors.
