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The Simply Good Foods Company reports developments for a nutritional snacking business built around Quest, Atkins and OWYN. Its updates cover financial results and outlook, brand-level sales trends, input-cost pressures, product launches and retail availability for protein bars, ready-to-drink shakes, chips, snacks and related confectionery products.
Company news also includes cost-savings initiatives, corporate realignment, executive leadership changes, investor relations appointments and Nasdaq compensation disclosures tied to employment arrangements. Brand releases from Quest Nutrition highlight new protein snack formats and marketing partnerships within the company’s active-lifestyle product portfolio.
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Simply Good Foods Company (Nasdaq: SMPL) reported its financial results for the second quarter ended February 25, 2023. The Company achieved net sales of $296.6 million, nearly unchanged from last year. Net income rose to $25.6 million compared to $18.5 million in the previous year, resulting in earnings per diluted share of $0.25, up from $0.18. However, the gross margin declined to 34.6% due to rising supply chain costs. The Company reaffirmed its full-year sales outlook of slightly over 4-6% growth, though gross margin is expected to decline more than previously anticipated. Adjusted EBITDA for the year is projected to grow, but at a lesser rate than net sales.
The Simply Good Foods Company (NASDAQ: SMPL) has announced it will release its financial results for the 13-week fiscal second quarter ending February 25, 2023, on April 5, 2023, before market opening. A conference call will follow at 6:30 a.m. Mountain time (8:30 a.m. Eastern), featuring CEO Joseph E. Scalzo and CFO Shaun P. Mara. Investors can participate via a U.S. dial-in number or internationally. The conference will also be streamed live on the company’s website, with a replay available for two weeks after the call.
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.