Simply Good Foods Q4 2023 Earnings Report
Key Takeaways
Simply Good Foods reported a strong fourth quarter with net sales increasing by 16.9% to $320.4 million, net income increasing to $36.6 million, and adjusted diluted EPS increasing to $0.45. The company's performance was driven by volume and pricing improvements, as well as gross margin expansion due to lower ingredient and packaging costs.
Net sales increased by 16.9% to $320.4 million.
Net income increased to $36.6 million, compared to $30.1 million for the comparable period of fiscal 2022.
Earnings per diluted share increased to $0.36, compared to $0.30 in the year ago period.
Adjusted EBITDA increased to $67.3 million, versus $51.0 million in the year ago period.
Simply Good Foods
Simply Good Foods
Forward Guidance
Simply Good Foods expects net sales to increase at the high end of its long-term algorithm of 4-6%, including the benefit of a fifty-third week. Adjusted EBITDA is anticipated to increase slightly greater than the net sales growth rate.
Positive Outlook
- Net sales expected to increase at the high end of the Company's long-term algorithm of 4-6%, including the benefit of a fifty-third week.
- Adjusted EBITDA anticipated to increase slightly greater than the net sales growth rate.
- Sales growth to be driven by volume.
- Strong advertising and marketing plans in place.
- Innovation, merchandising and promotions that should drive solid, overall, financial and marketplace results.