The Simply Good Foods Company · NASDAQ:SMPL
The Simply Good Foods — Q1 2022 Earnings Presentation
16 slides from The Simply Good Foods's earnings presentation, Jan 5, 2022
Slide 1: First Quarter Fiscal Year 2022 Earnings Conference Call & Webcast Presentation
First Quarter Fiscal Year 2022 Earnings Conference Call & Webcast Presentation January 5, 2022 0
Slide 2: Disclaimer
Disclaimer Forward Looking Statements Certain statements made herein are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by or include w
Slide 3: Joseph E. Scalzo, President and Chief Executive Officer
JOSEPH E. SCALZO PRESIDENT AND CHIEF EXECUTIVE OFFICER 2
Slide 4: Today's Speakers and Agenda
Today’s Speakers and Agenda Speakers Agenda \ Mark Pogharian ▪ Introduction VP, Investor Relations Joe Scalzo ▪ Overview and Q1 Highlights President & Chief Executive Officer ▪ Business Update Todd Cunfer ▪ Financial Summary Chief Financial Officer Joe Scalzo ▪ Fiscal Year 2022 Outlook Update Presid
Slide 5: First Quarter Fiscal 2022 Overview
First Quarter Fiscal 2022 Overview ▪ First quarter results slightly greater than our estimates; a good start to the year ▪ Simply Good Foods Q1 net sales increased +21.7%, driven by higher retail takeaway of our brands versus our estimate - Year over year growth benefited from higher level of consum
Slide 6: Simply Good Foods and Nutritional Snacking Category Retail Performance
Simply Good Foods and Nutritional Snacking Category Retail Performance ▪ Simply Good Foods IRI MULO + C-store retail takeaway similar to Q4 ▪ Atkins and Quest outpaced respective sub-segments of weight management and active nutrition ▪ Simply Good Foods fiscal 2021 e-commerce retail takeaway about t
Slide 7: Atkins Overview
Atkins® Overview 1 ▪ Atkins Q1 IRI MULO + C-store retail takeaway increased 7.7%, with growth across all forms and in key retail channels - Atkins continues to grow across all major customers and channels ▪ Atkins bars Q1 measured channel retail takeaway increased 3.3%; consumption affected by minim
Slide 8: Quest Overview
Quest® Overview 1 ▪ Quest Q1 measured channel retail takeaway increased 36.2%, outpacing the category - Growth driven by the increase of household penetration, improving shopper trips and stronger bar growth along with new product form success - While early, pleased with distribution gains and consu
Slide 9: Summary
Summary ▪ First quarter results better than expected ▪ Continue to expect that net sales and Adjusted EBITDA growth in the first half of the year will be stronger than the second half of the year: - Anticipate that retail takeaway will continue to be solid, although growth rate in 2H22 is more chall
Slide 10: Todd Cunfer, Chief Financial Officer
TODD CUNFER CHIEF FINANCIAL OFFICER 9
Slide 11: Net Sales Performance
Net Sales Performance Net Sales Growth by Segment Fiscal Q1 2022 vs. Year Ago Period 1 1Includes European business exit, a 1.6 ppt headwind to total Company net sales growth 10
Slide 12: 1st Quarter Net Sales and Profit
1st Quarter Net Sales and Profit Fiscal Q1 2022 vs. Year Ago Period Net Sales1 Gross Profit Adjusted EBITDA (and % Margin)1 (and % Margin)1,2 21.7% Year-Over-Year 23.9% Year-Over-Year 34.7% Year-Over-Year Growth Growth Growth $281.3 $231.2 $116.6 41.4% $94.0 $65.6 40.7% 23.3% $48.7 21.1% 1Q21 1Q22 1
Slide 13: Adjusted Diluted Earnings Per Share
Adjusted Diluted Earnings Per Share Reconciliation of Adjusted Diluted EPS 1 2 3,4 3,4 1Other items consist principally of exchange impact of foreign currency transactions and other expenses. 2This line item reflects the aggregate tax effect of all non-tax adjustments reflected in the preceding line
Slide 14: Balance Sheet & Cash Flow
Balance Sheet & Cash Flow ▪ In fiscal 1Q22 term loan debt pay-down of $25million; term loan debt balance at 1 November 27, 2021, $431.5 million (LIBOR +375 bps) ▪ Fiscal first quarter net cash used in operating activities $7.3 million - Cash flow from operations affected by the timing of working cap
Slide 15: Fiscal 2022 Outlook and Commentary
Fiscal 2022 Outlook and Commentary ▪ Anticipate that we will deliver solid net sales and Adjusted EBITDA growth in fiscal 2022 - We do not expect any meaningful changes in workplace mobility in our outlook - Both Atkins and Quest are strong brands with marketing and innovation initiatives in place t
Slide 16: Q&A
Q&A Simply ¥Good FOODS COMPANY”
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