The Simply Good Foods Company · NASDAQ:SMPL
The Simply Good Foods — Q2 2024 Earnings Presentation
15 slides from The Simply Good Foods's earnings presentation, Apr 4, 2024
Slide 1: Second Quarter Fiscal Year 2024 Earnings Presentation
Second Quarter Fiscal Year 2024 Earnings Presentation April 4, 2024 0
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 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 Q2 Highlights Shaun Mara, CFO ▪ Financial Summary ▪ Fiscal Year 2024 Outlook ▪ Q&A 3
Slide 5: Second Quarter Fiscal 2024 Overview
Second Quarter Fiscal 2024 Overview ▪ Simply Good Foods F2Q24 Net Sales increased 5.3% and, as expected, was greater than retail 1 takeaway growth of 3% ▪ Simply Good Foods retail takeaway in measured channels less than expectations - Ecommerce POS growth for both Quest and Atkins continues to be so
Slide 6: Quest Overview
Quest® Overview ▪ Quest on track with IRI MULO + C-store retail takeaway growth in Q2 of 13.1% 1 - Solid performance across major forms and customers driven by volume growth 2 ▪ Q2 POS growth in unmeasured channels about 10% 2 - Solid Ecommerce retail takeaway of about 14% partially offset by specia
Slide 7: Atkins Overview
Atkins® Overview ▪ Atkins Q2 retail takeaway1 in the IRI MULO + C-store universe and the combined measured and unmeasured channels off about 11% and 8%, respectively - Ecommerce remains solid with Q2 retail takeaway at Amazon up 13% - Merchandising and programing plans were in place but higher level
Slide 8: Summary
Summary ▪ Simply Good Foods is uniquely positioned as a U.S. leader in nutritional snacking - Quest and Atkins are trusted brands and play a meaningful role in helping consumers achieve their wellness goals ▪ Solid gross margin expansion enables investments in growth initiatives, capabilities and ea
Slide 9: Shaun Mara, Chief Financial Officer
SHAUN MARA CHIEF FINANCIAL OFFICER 8
Slide 10: 2nd Quarter Net Sales and Earnings
2nd Quarter Net Sales and Earnings Fiscal Q2 2024 vs. Year Ago Period Gross Profit Adjusted EBITDA Net Sales1 (and % Margin)1 (and % Margin)1,2 Net Income1 +5.3% Year-Over-Year +13.8% Year-Over-Year +13.6% Year-Over-Year +29.2% Year-Over-Year Percent Change Percent Change Percent Change Percent Chan
Slide 11: Year-to-Date Net Sales and Earnings
Year-to-Date Net Sales and Earnings Fiscal Year-to-Date Q2 2024 vs. Year Ago Period Gross Profit Adjusted EBITDA Net Sales1 (and % Margin)1 (and % Margin)1,2 Net Income1 +3.9% Year-Over-Year +8.5% Year-Over-Year +7.3% Year-Over-Year +11.7% Year-Over-Year Percent Change Percent Change Percent Change
Slide 12: 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 13: Balance Sheet & Cash Flow
Balance Sheet & Cash Flow ▪ Cash balance at February 24, 2024 of $135.9 million - Year-to-date cash flow from operations of $94 million ▪ Term loan debt balance at February 24, 2024, $240 million (SOFR + 250 bps) 1 - Term loan debt pay-down of $35 million in F2Q24 ▪ Anticipate fiscal 2024 interest i
Slide 14: Fiscal 2024 Outlook
Fiscal 2024 Outlook ▪ Updating full year fiscal 2024 outlook do to lower than anticipated consumption in F2Q24 ▪ 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 gr
Slide 15: Q&A
Q&A SIMPLY GOOD
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