The Simply Good Foods Company · NASDAQ:SMPL
The Simply Good Foods — Q3 2024 Earnings Presentation
18 slides from The Simply Good Foods's earnings presentation, Jun 27, 2024
Slide 1: Third Quarter Fiscal Year 2024 Earnings Presentation
Third Quarter Fiscal Year 2024 Earnings Presentation June 27, 2024
Slide 2: Disclaimer: Forward Looking Statements
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 Q3 Highlights by Geoff Tanner, President and CEO 3. Financial Summary and Fiscal Year 2024 Outlook by Shaun Mara, CFO 4. Q&A 4
Slide 5: Third Quarter Fiscal 2024 Overview
Third Quarter Fiscal 2024 Overview 1 Simply Good Foods F3Q24 retail takeaway increased 5.0% and, as expected, outpaced the net sales increase of 3.1% • Ecommerce POS growth for both Quest and Atkins continues to be solid • Total Quest retail takeaway in line with estimates • Atkins measured channel
Slide 6: Third Quarter Fiscal 2024 Retail Takeaway Performance
Simply Good Foods Third Quarter Fiscal 2024 Retail Takeaway Performance Nutritional Snacking Category (NSC) growth solid, driven by volume, and primarily by brands with protein Quest is a category leader and gaining market share within the NSC. Quest’s strong performance is partially offset by Atkin
Slide 7: Quest Overview
Quest Overview 1 Quest on track with IRI MULO + C-store retail takeaway growth in Q3 of 13.5% • Solid performance across major channels driven by volume growth • Positive consumer reaction to new on-air advertising campaign - Will be a short and long-term benefit to driving2 overall brand growth Q3
Slide 8: Atkins Overview
Atkins Overview Atkins Q3 retail takeaway1in the IRI MULO +C-store universe and combined measured and unmeasured channel off about 9% and 5%, respectively • Ecommerce remains solid with Q3 retail takeaway at Amazon up 16% Retail takeaway trends stabilized in Q3 2 Revitalization plan on track with so
Slide 9: OWYN Overview
OWYN Overview OWYN transaction successfully closed on June 13th Strong retail takeaway in measured and unmeasured channels: U.S. IRI MULO + C-store 1 Retail Takeaway % Change vs. Year Ago +117.5% +6.4% Snacking Cat. Nutritional Strong plans in place to drive growth • Increases in marketing efforts t
Slide 10: Summary
Summary ✓ Simply Good Foods is the $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 : ✓ A high-performance business culture with motivated and highly
Slide 11: Shaun Mara, Chief Financial Officer
Shaun Mara Chief Financial Officer 11
Slide 12: Third Quarter Net Sales and Earnings
Third Quarter Net Sales and Earnings Fiscal Q3 2024 vs. Year Ago Period Gross Profit Adjusted EBITDA Net Sales1 (and % Margin)1 (and % Margin)1,2 Net Income1 +3.1% Year-Over-Year +12.1% Year-Over-Year +7.9% Year-Over-Year +16.7% Year-Over-Year Percent Change Percent Change Percent Change Percent Cha
Slide 13: Year-to-Date Third Quarter Net Sales and Earnings
Year-to-Date Third Quarter Net Sales and Earnings Year-to-Date Fiscal Q3 2024 vs. Year Ago Period Gross Profit Adjusted EBITDA Net Sales1 (and % Margin)1 (and % Margin)1,2 Net Income1 +3.6% Year-Over-Year +9.8% Year-Over-Year +7.5% Year-Over-Year +13.5% Year-Over-Year Percent Change Percent Change P
Slide 14: 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 15: Balance Sheet & Cash Flow
Balance Sheet & Cash Flow Cash balance at May 25, 2024 of $208.7 million • Year-to-date cash flow from operations of $167million Term loan balance at May 25, 2024, $240 million (SOFR + 250 bps) million 1 • On June 13, 2024, the Company closed on the OWYN acquisition, as such, the term loan balance a
Slide 16: Fiscal 2024 Outlook
Fiscal 2024 Outlook Updating Simply Good Foods full year fiscal 2024 outlook Reaffirm “legacy” Simply Good Foods full year fiscal 2024 net sales outlook • Excluding OWYN, anticipate net sales growth, including the benefit of the 53rd week, to be around the mid-point of the Company’s long- term 4-6%
Slide 17: Simply Good Foods logo
sipLy GOOD
Slide 18: Thank You
THANK YOU.
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