The Simply Good Foods Company · NASDAQ:SMPL
The Simply Good Foods — Q3 2021 Earnings Presentation
17 slides from The Simply Good Foods's earnings presentation, Jul 1, 2021
Slide 1: Third Quarter Fiscal Year 2021 Earnings Conference Call & Webcast Presentation
Third Quarter Fiscal Year 2021 Earnings Conference Call & Webcast Presentation July 1, 2021
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 Q3 Highlights President & Chief Executive Officer Business Update Todd Cunfer Financial Summary Chief Financial Officer Q&A 3
Slide 5: Third Quarter Fiscal 2021 Overview
Third Quarter Fiscal 2021 Overview Q3 Simply Good Foods net sales increased +32.0%. Results greater than our estimate as consumer mobility improved faster than our expectations - Relaxing of movement restrictions and better shopper traffic, particularly in the mass retail channel - Increasing on-t
Slide 6: Simply Good Foods Retail Takeaway Outpacing the Category
Simply Good Foods Retail Takeaway Outpacing the Category Simply Good Foods IRI MULO + C-store market share increased Atkins and Quest outpaced the sub-segments of weight management and active nutrition Simply Good Foods e-commerce retail takeaway about the same as measured channels U.S. IRI MU
Slide 7: Atkins Retail Takeaway
Atkins® Retail Takeaway 1 Atkins Q3 IRI MULO + C-store retail takeaway increased 15.6%, with growth across all forms and major retail channels - Increasing mobility, improving shopper trips in brick and mortar retailers and buyer growth resulted in solid retail takeaway - Bars and shakes increased
Slide 8: Quest Retail Takeaway
Quest® Retail Takeaway 1 Quest Q3 measured channel retail takeaway increased +56.2%, significantly outpacing the category - Growth driven by improving shopper traffic in the mass channel, an increase in consumer mobility and greater on-the-go consumption - Bars, about ~60% of total retail sales, r
Slide 9: Summary
Summary Third quarter results better than expected driven by improving mobility and increasing shopper traffic in the mass channel Anticipate Q4 retail dollar sales to be similar to Q3 Expect higher raw materials and distribution costs in Q4 to be offset by continued improved mix Productivit
Slide 10: Todd Cunfer, Chief Financial Officer
TODD CUNFER CHIEF FINANCIAL OFFICER 9
Slide 11: Net Sales Performance
Net Sales Performance Net Sales Drivers of Growth 10
Slide 12: 3rd Quarter Net Sales and Profit
3rd Quarter Net Sales and Profit Fiscal Q3 2021 vs. Year Ago Period Net Sales1 Gross Profit Adjusted EBITDA (and % Margin)1 (and % Margin)1,2 32.0% Year-Over-Year 36.5% Year-Over-Year 55.6% Year-Over-Year Growth Growth Growth $284.0 $215.1 $121.0 $88.6 42.6% 41.2% $67.5 23.8% $43.4 20.2% 3Q20 3Q21 3
Slide 13: Year-to-Date Q3 Net Sales and Profit
Year-to-Date Q3 Net Sales and Profit YTD Q3 Fiscal 2021 vs. Year Ago Period Net Sales1 Gross Profit Adjusted EBITDA (and % Margin)1 (and % Margin)1,2 25.5% Year-Over-Year 29.2% Year-Over-Year 35.9% Year-Over-Year Growth Growth Growth $745.8 $594.4 Includes $7.5 million inventory step-up, a 130 bps h
Slide 14: Earnings Per Share-Diluted
Earnings Per Share-Diluted Reconciliation of Adjusted Diluted EPS 1 2 3 3,5 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 items of
Slide 15: Balance Sheet & Cash Flow
Balance Sheet & Cash Flow Fiscal 3Q21 term loan debt pay-down of $50 million; term loan debt balance at 1 May 30, 2021, $506.5 million (LIBOR +375 bps) Fiscal third quarter year-to-date cash flow from operations of $91.8 million - Cash and cash equivalents balance at May 30, 2021 of $90.2 millio
Slide 16: Fiscal 2021 Outlook
Fiscal 2021 As consumer mobility increased our business accelerated. We are confident in our short and long-term growth prospects as our business and Company have emerged from COVID-19 challenges stronger and more capable Full Fiscal Year 2021 Outlook: - Assuming no significant COVID-19 disrupti
Slide 17: Q&A
Q&A Simply ¥Good FOODS COMPANY”
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