Business
The Simply Good Foods Company Reports Fiscal Second Quarter 2025 Financial Results and Reaffirms Fiscal Year 2025 Outlook
DENVER, April 09, 2025 (GLOBE NEWSWIRE) -- The Simply Good Foods Company (Nasdaq: SMPL) (“Simply Good Foods,” or the “Company”), a developer, marketer and
About this update from The Simply Good Foods Company
[{"type":"text","content":"DENVER, April 09, 2025 (GLOBE NEWSWIRE) -- The Simply Good Foods Company (Nasdaq: SMPL) (“Simply Good Foods,” or the “Company”), a developer, marketer and seller of branded nutritional foods and snacking products, today reported financial results for the thirteen and twenty-six weeks ended March 1, 2025. The acquisition of Only What You Need, Inc. (\"OWYN\") was completed on June 13, 2024. Therefore, the Company's year-ago performance for the thirteen and twenty-six weeks ended February 24, 2024, does not include results of the OWYN business. The reference to \"organic\" or \"legacy\" Simply Good Foods in this press release encompasses Simply Good Foods' business excluding OWYN. Second Quarter Summary:(1) Net sales of $359.7 million versus $312.2 millionNet income of $36.7 million versus $33.1 millionEarnings per diluted share (“EPS”) of $0.36 versus $0.33Adjusted Diluted EPS(2) of $0.46 versus $0.40Adjusted EBITDA(3) $68.0 million versus $57.8 million Reaffirming Fiscal Year 2025(4) Outlook: Net sales expected to increase 8.5% to 10.5%Adjusted EBITDA expected to increase 4% to 6%The fifty-third week in fiscal year 2024 is an approximately 2-percentage point headwind to both Net Sales and Adjusted EBITDA growth in fiscal year 2025 and is incorporated in the outlook above \"I am very pleased with our second quarter and first half results. We are executing well, adding new doors, winning with innovation, and driving brand awareness and household penetration of our brands\" said Geoff Tanner, President and Chief Executive Officer of Simply Good Foods. \"Simply Good Foods grew second quarter retail takeaway 7%, with organic(5) net sales growth up over 4%. Strong top-line enabled Adjusted EBITDA growth of 18% year-over-year, which also benefited from favorable commodities and strong cost discipline. In these uncertain times, we remain excited about the mainstreaming of consumer demand for high protein, low-sugar, low-carb foods and beverages, and we are confident our differentiated portfolio of three uniquely positioned brands puts us at the forefront of this generational shift.\" Second Quarter 2025 Results Net sales increased $47.5 million, or 15.2%, to $359.7 million. OWYN net sales contributed $33.8 million, or 10.8%, to reported net sales growth, while organic net sales grew 4.4%, driven by Quest. International organic net sales...