The Simply Good Foods Company · NASDAQ:SMPL
The Simply Good Foods — Q2 2026 Earnings Presentation
19 slides from The Simply Good Foods's earnings presentation, Apr 9, 2026
Slide 1: Second Quarter Fiscal Year 2026
Second Quarter Fiscal Year 2026 April 9, 2026
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: Key Messages
Key Messages Weaker-than-expected retail consumption led to disappointing second quarter • Q2 net sales, gross margins and Adjusted EBITDA1 reflected challenging in-market results Updating Fiscal Year 2026 outlook for Net Sales and Adjusted EBITDA • Reflects Q2 performance and reduced second half ex
Slide 4: Chris Bealer, Chief Financial Officer
Chris Bealer Chief Financial Officer
Slide 5: Consumption Decelerated Versus Q1 2026
Consumption Decelerated Versus Q1 2026 Simply Good Foods Company Q2 retail takeaway declined 6.4% Quest Q2 retail takeaway grew 2.4%1 versus 12% growth in Q1 • Total Brand Household Penetration increased 160 bps YOY to 19.8%2 • Quest Salty consumption grew by 14% • Quest Bars consumption declined by
Slide 6: Q2 2026 Net Sales Breakdown
Q2 2026 Net Sales Breakdown Reported Net Sales1 Reported Net Sales Breakdown, by Brand1 -9.4% YoY Decline $359.7 Int'l, 2% OWYN, 9% $326.0 Atkins, 24% Quest, 65% 2Q25 2Q26 6 1Unaudited financial information for the 13-weeks ended February 28, 2026, and 13-weeks ended March 1, 2025; Note: Dollar amou
Slide 7: Q2 2026 Profitability Detail
Q2 2026 Profitability Detail Gross Profit (GAAP) Adjusted EBITDA Net Income (Loss) (Gross Margin) (Adjusted EBITDA Margin) 1,2 (% of Net Sales) $130.1 $36.7 Includes $249M 36.2% 10.2% impairment charge $68.0 ($159.7) $103.0 18.9% -49.0% 31.6% $55.5 17.0% 2Q25 2Q26 2Q25 2Q26 2Q25 2Q26 1Unaudited fina
Slide 8: Capital Allocation Priorities
Capital Allocation Priorities Maintaining a flexible and prudent capital structure • Net Debt to Adjusted EBITDA ratio1 remains favorable at 1.2x • Allows for financial flexibility in dynamic consumer environment Returning excess cash to shareholders • Repurchased approximately $240 million, or 11.2
Slide 9: Updated Fiscal Year 2026 Outlook
Updated Fiscal Year 2026 Outlook1 Prior 2026 Outlook Updated 2026 Outlook Rationale Net Sales Growth -2% to +2% 10% to 7% Decline Assumes recent weak consumption trends continue and some future Net Sales $ $1.31 to $1.35B distribution losses Gross Margin (GAAP) 100 to 150 bps Decline 300 to 350 bps
Slide 10: Joe Scalzo, President and Chief Executive Officer
Joe Scalzo President and Chief Executive Officer
Slide 11: Not Satisfied With Performance, Significant Turnaround Opportunity Exists
Not Satisfied With Performance, Significant Turnaround Opportunity Exists Purposeful nutrition category continues to show solid growth Powerful consumer tailwinds: health, wellness, protein, convenient snacking, meal replacement • Predominantly branded category, limited private label penetration,
Slide 12: Structural Issues at Simply Good Foods
Structural Issues at Simply Good Foods Performed a clear-eyed assessment of the business; we will focus on emphasizing discipline, consistency and operational excellence. We are acting with urgency. Over the past several years we have experienced erosion in overall household fundamentals • Growth de
Slide 13: Fundamental Turnaround Beliefs
Fundamental Turnaround Beliefs 1. We will relentlessly attack inefficiency in our supply chain 2. We will use pricing actions as necessary to help offset cost inflation over time 3. We will be less reliant on price promotion 4. We will lower our fixed overhead structure 5. We will restore more consi
Slide 14: Quest, Our Billion Dollar and Most Important Brand
Quest, Our Billion Dollar and Most Important Brand Brand combines great taste with a highly differentiated nutritional profile • Focused on using high-quality, dairy-based proteins that provide the full spectrum of essential amino acids, while avoiding ingredients that can cause blood sugar spikes •
Slide 15: Atkins
Atkins Helps consumers manage carbohydrates while still enjoying great-tasting food • Atkins grew for over a decade by recruiting consumers to the low carb lifestyle Combination of factors contributed to brand’s recent decline • Gross margins weakened and level of marketing support behind the brand
Slide 16: OWYN
OWYN Brand quickly developed strong following among consumers seeking plant-based alternatives with simple, recognizable ingredients • Acquired OWYN as attractive entry point into expanding plant-based and clean-label protein segment • Expanded reach to new consumer segment while adding third differ
Slide 17: Role of Each Brand in Our Portfolio
Role of Each Brand in Our Portfolio Quest is growth engine and most important brand • Invest for growth, refocus on brand promise of ‘athlete worthy nutrition’ behind core bars and chips Atkins is leading weight management brand and our second largest business • Reset retail product assortment with
Slide 18: Near-Term Priorities: Acting with Urgency
Near-Term Priorities: Acting with Urgency 1. Strengthen business model economics through pricing and reducing costs 2. Ensuring consistency and discipline in strategic choices, working on fewer, bigger initiatives, driving organizational clarity, focus and efficiency 3. Rebuilding brand investment b
Slide 19: msiler@simplygoodfoodsco.com
msiler@simplygoodfoodsco.com
The Simply Good Foods Company — Q2 2026 Earnings Presentation on 6ix