The Simply Good Foods Company · NASDAQ:SMPL
The Simply Good Foods — Q1 2023 Earnings Presentation
16 slides from The Simply Good Foods's earnings presentation, Jan 5, 2023
Slide 1: First Quarter Fiscal Year 2023 Earnings Conference Call & Webcast Presentation
First Quarter Fiscal Year 2023 Earnings Conference Call & Webcast Presentation January 5, 2023
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 Shaun Mara ▪ Financial Summary Chief Financial Officer Joe Scalzo ▪ Fiscal Year 2023 Outlook President & Ch
Slide 5: First Quarter Fiscal 2023 Overview
First Quarter Fiscal 2023 Overview ▪ Simply Good Foods fiscal Q1 2023 net sales increased +7.0% - As expected, retail takeaway outpaced net sales growth ▪ Fiscal first quarter 2023 retail takeaway about 14% in combined measured and unmeasured channels - Strong Quest performance across key forms, cus
Slide 6: Simply Good Foods Retail Takeaway Performance
Simply Good Foods Retail Takeaway Performance ▪ Fiscal 1Q23 Simply Good Foods IRI MULO + C-store retail takeaway increased +11.1% and about +14% in the combined measured and unmeasured channels ▪ Atkins and Quest marketplace performance solid within the sub-segments of weight management and active n
Slide 7: Atkins Overview
Atkins® Overview 1 ▪ Atkins Q1 POS growth in combined measured and unmeasured channels increased about 4% as strong e-commerce growth outperformed flat measured channels - Retail takeaway at Amazon increased about 75% versus last year - Total unmeasured channel retail takeaway increased more than 40
Slide 8: Quest Overview
Quest® Overview 1 ▪ Quest Q1 POS growth in combined measured and unmeasured channels about the same as the IRI MULO + C-store universe - Retail takeaway at Amazon increased about 36% versus last year - Total unmeasured channel retail takeaway approximately 20% - Unmeasured channels about 24% of tota
Slide 9: Summary
Summary ▪ Pleased with first quarter net sales and retail takeaway performance - The recessionary economy remains challenging; higher prices affecting demand and shopper foot traffic at brick-and-mortar retailers, particularly the food channel - We remain cautiously optimistic about our business wit
Slide 10: Shaun Mara, Chief Financial Officer
SHAUN MARA CHIEF FINANCIAL OFFICER 9
Slide 11: Net Sales Growth
Net Sales Growth ▪ F1Q23 Net Sales $300.9 million, an increase of $19.6 million versus the year ago period Fiscal Q1 2023 Net Sales 1 Reconciliation of 1Q23 POS to Net Sales Growth ~ 1Company estimates 10
Slide 12: 1st Quarter Profit
1st Quarter Profit Fiscal Q1 2023 vs. Year Ago Period Gross Profit Adjusted EBITDA (and % Margin)1 Net Income1 (and % Margin)1,2 -4.8% Year-Over-Year +69.5% Year-Over-Year -7.4% Year-Over-Year Percent Change Percent Change Percent Change $116.6 41.4% $111.0 36.9% $65.6 23.3% $60.8 41.4% 41.4% 20.2%
Slide 13: Adjusted Diluted Earnings Per Share
Adjusted Diluted Earnings Per Share Reconciliation of Adjusted Diluted EPS 1 1This line item reflects the aggregate tax effect of all non-tax adjustments reflected in the preceding line items of the table. The tax effect of each adjustment is computed (i) by dividing the gross amount of the adjustme
Slide 14: Balance Sheet & Cash Flow
Balance Sheet & Cash Flow ▪ Cash balance at November 26, 2022 of $54.1 million - Cash flow from operations of $8.7 million affected by the timing of working capital ▪ Open market repurchase of common stock in the fiscal first quarter of $16.4 million, at an average cost of $30.11 per share - As of N
Slide 15: Fiscal 2023 Outlook and Commentary
Fiscal 2023 Outlook and Commentary ▪ In a challenging economic environment, we are on track to deliver on our fiscal 2023 financial objectives ▪ Full Fiscal Year 2023 Outlook versus 2022: 2 ▪ We have good momentum – December POS 16% - heading into the “New Year, New You” season and have strong custo
Slide 16: Q&A
Q&A Simply ¥Good FOODS COMPANY”
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