The Simply Good Foods Company · NASDAQ:SMPL
The Simply Good Foods — Q1 2024 Earnings Presentation
16 slides from The Simply Good Foods's earnings presentation, Jan 4, 2024
Slide 1: First Quarter Fiscal Year 2024 Earnings Conference Call & Webcast Presentation
First Quarter Fiscal Year 2024 Earnings Conference Call & Webcast Presentation January 4, 2024
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: Geoff Tanner, President and Chief Executive Officer
GEOFF TANNER 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 Geoff Tanner, President & CEO ▪ Overview and Q1 Highlights ▪ Quest and Atkins Update Shaun Mara, CFO ▪ Financial Summary ▪ Fiscal Year 2024 Outlook ▪ Q&A 3
Slide 5: First Quarter Fiscal 2024 Overview
First Quarter Fiscal 2024 Overview 1 ▪ Q1 financial results and retail takeaway of 8% in line with our estimates - As expected, Q1 retail takeaway outpaced Net Sales growth due to timing of shipments versus the year ago period ▪ Net Sales increased 2.6% to $308.7 million driven by continued Quest mo
Slide 6: Simply Good Foods Retail Takeaway Performance
Simply Good Foods Retail Takeaway Performance 1 ▪ Nutritional Snacking Category performance remains strong and increased 12% in Q1, driven by volume growth ▪ Fiscal 1Q24 Simply Good Foods IRI MULO + C-store retail takeaway increased 7.1% and about +8% in the combined measured and unmeasured channels
Slide 7: Quest Overview
Quest® Overview 1 ▪ Quest Q1 IRI MULO + C-store retail takeaway increased 20.0% - Solid performance across major forms and customers driven by volume growth - Strong relationships with top customers drives collaborative growth discussions and planning 2 ▪ Q1 POS growth in unmeasured channels about 1
Slide 8: Atkins Overview
Atkins® Overview ▪ Atkins Q1 retail takeaway in the IRI MULO + C-store universe and combined measured and 1 2 unmeasured channels off about 6% and 4%, respectively - Q1 retail takeaway at Amazon up 12% - Retail takeaway stabilized - Strong marketing and merchandising plans in place for "New Year, Ne
Slide 9: Summary
Summary ▪ First quarter marketplace results a positive start to the year ▪ Simply Good Foods is uniquely positioned as the U.S. leader in nutritional snacking ▪ Collaboration with key customers is strong and they are committed to our brands ▪ Executing against our priorities and remain committed to
Slide 10: Shaun Mara, Chief Financial Officer
SHAUN MARA CHIEF FINANCIAL OFFICER 9
Slide 11: Net Sales Growth
Net Sales Growth ▪ F1Q24 Net Sales $308.7 million, an increase of $7.8 million versus the year ago period Net Sales Increase vs. Last Year 1 10
Slide 12: 1st Quarter Profit
1st Quarter Profit Fiscal Q1 2024 vs. Year Ago Period 1 1, 2 Gross Profit Adjusted EBITDA (and % Margin) (and % Margin) Net Income 1 +3.7% Year-Over-Year +2.0% Year-Over-Year -0.8% Year-Over-Year Percent Change Percent Change Percent Change $115.1 37.3% $111.0 36.9% $62.0 20.0% 41.4% 36.9% $60.8 20.
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 25, 2023 of $121.4 million - Cash flow from operations of $47.5million compared to $8.7 million in the year ago period ▪ Term loan debt balance at November 25, 2023, $275.0 million (SOFR +250 bps) 1 - Term loan debt pay-down of $10.0 million in F1
Slide 15: Fiscal 2024 Outlook
Fiscal 2024 Outlook ▪ Reaffirm fiscal year 2024 outlook ▪ Expect lower ingredient and packaging costs to drive solid gross margin expansion - Provides the Company with flexibility to invest in capabilities and marketing initiatives that drive growth ▪ Fiscal year 2024 outlook: 1 1 14 1Dollars in mil
Slide 16: Q&A
Q&A Simply ¥Good FOODS COMPANY”
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