The Simply Good Foods Company · NASDAQ:SMPL
The Simply Good Foods — Q4 2024 Earnings Presentation
19 slides from The Simply Good Foods's earnings presentation, Oct 24, 2024
Slide 1: Fourth Quarter & Full Fiscal Year 2024 Conference Call & Webcast Presentation
Fourth Quarter & Full Fiscal Year 2024 Conference Call & Webcast Presentation October 24, 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 3
Slide 4: Agenda
Agenda 1. Introduction by Mark Pogharian, VP of Investor Relations 2. Overview and Q4 Highlights by Geoff Tanner, President and CEO 3. Financial Summary and Fiscal Year 2025 Outlook by Shaun Mara, CFO 4. Q&A 4
Slide 5: Key Messages
Key Messages Delivered on our Q4 objectives • Net Sales growth of 17.2%; extra week in Q4 and the OWYN acquisition about an 8 and 9 ppt. benefit to net sales growth - On a like-for-like 13-week basis, N. America Quest net sales increased about 5%, less than expectations due to chips supply constrain
Slide 6: Simply Good Foods Retail Takeaway Performance
Simply Good Foods Retail Takeaway Performance Nutritional Snacking Category growth solid, driven by volume Unmeasured channels, driven by eCommerce, additive to legacy brand measured channels POS growth Quest and OWYN outpacing category growth 4Q24 Measured Channels 4Q24 Measured + Unmeasured Channe
Slide 7: Quest Overview
Quest Overview Quest Q4 retail takeaway in IRI MULO + C-store and combined measured and unmeasured channels increased 8.8% and 10% 1 • Consumption slowed during Q4 primarily due to temporary chips capacity constraints that resulted in stockouts at retail customers • As discussed last quarter there w
Slide 8: Atkins Overview
Atkins Overview Atkins Q4 retail takeaway in IRI MULO + C-store and combined measured and unmeasured channels declined 8.4% and 5% • Ecommerce remains solid with Q4 retail takeaway of 15% • Average weekly retail dollar sales in measured channels stabilized in Q4 • RTD shake trends improving with Q4
Slide 9: OWYN Overview
OWYN Overview Strong retail takeaway1 in measured and unmeasured channels: Retail Takeaway % Change vs. Year Ago1 2 U.S. IRI MULO Unmeasured Channels Measured + Unmeasured Channels +112% +115% +81% +80% +32% +29% F4Q24 FY24 F4Q24 FY24 F4Q24 FY24 Strong measured channel growth versus the year ago per
Slide 10: Summary
Summary 3 ✓ Simply Good Foods is a $1.4 billion U.S. leader in nutritional snacking with a diversified portfolio across brands, forms and consumers that is aligned with lifestyle megatrends of high protein, low carb and minimal sugar: ✓ Executing against our strategy and delivering on our financial
Slide 11: Shaun Mara, Chief Financial Officer
Shaun Mara Chief Financial Officer 11
Slide 12: Net Sales Drivers
Net Sales Drivers Fourth quarter and full year Net Sales $375.7 million and $1.3 billion, an increase of 17.2% and 7.1% versus the year ago period Net Sales Drivers of Growth F4Q24 FY24 Legacy1 Business (excluding the extra week) 1% 3% Benefit of 53rd Week 8% 2% Legacy1Net Sales 8% 5% 2 OWYN 9% 2% T
Slide 13: Fourth Quarter Earnings
Fourth Quarter Earnings Fiscal Q4 2024 vs. Year Ago Period Gross Profit Adjusted EBITDA (and % Margin)1 (and % Margin)1,2 Net Income1 +21.2% Year-Over-Year +15.2% Year-Over-Year -20.1% Year-Over-Year Percent Change Percent Change Percent Change Includes $3.2 million inventory step-up, a 90 bps headw
Slide 14: Full Fiscal Year 2024 Earnings
Full Fiscal Year 2024 Earnings Full Fiscal Year 2024 vs. Year Ago Period Gross Profit Adjusted EBITDA (and % Margin)1 (and % Margin)1,2 Net Income1 +12.8% Year-Over-Year +9.6% Year-Over-Year +4.3% Year-Over-Year Percent Change Percent Change Percent Change Includes $3.2 million inventory step-up, a
Slide 15: 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 16: Balance Sheet & Cash Flow
Balance Sheet & Cash Flow Fiscal fourth quarter and full year cash flow from operations of about $48.8 and $215.7 million, respectively Cash balance at August 31, 2024 of $132.5 million Term loan balance at August 31, 2024, $400 million (SOFR + 250 bps) million 1 - For the fourteen and fifty-three w
Slide 17: Fiscal 2025 Outlook
Fiscal 2025 Outlook The Company is focused on executing against its strategic initiatives that build on existing capabilities and making investments in the business that management expects will strengthen its brands in the marketplace The Company expects strong Quest and OWYN net sales and retail ta
Slide 18: Simply Good Foods
sIMpLy GOOD
Slide 19: Thank You
THANK YOU.
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