DENVER, July 09, 2026 (GLOBE NEWSWIRE) -- The Simply Good Foods Company (Nasdaq: SMPL) ("Simply Good Foods," or the "Company"), a leader in the Nutritional Snacking Category, today reported financial results for the thirteen and thirty-nine weeks ended May 30, 2026.
Third Quarter Summary:(1)
Net sales of $357.0 million versus $381.0 million
Net loss of $52.0 million versus net income of $41.1 million
Loss per diluted share of $0.58 versus earnings per diluted share of $0.40
Adjusted Diluted EPS(2) of $0.42 versus $0.51
Adjusted EBITDA(3) of $57.2 million versus $73.9 million
Updating Fiscal Year 2026(4) Outlook:
Net sales expected to range between $1.345 and $1.355 billion, or a decline of roughly 7% to 6% year-over-year
Gross margins expected to decline approximately 375 basis points year-over-year
Adjusted EBITDA expected to range between $220 and $225 million, or -21% to -19% year-over-year
"Our third quarter results reflect initial steps against the turnaround priorities we outlined last quarter. While we are still in the early stages of this work, we are beginning to see some signs of improved alignment around our three key priorities. We delivered third quarter net sales of $357 million and Adjusted EBITDA of $57 million, ahead of our expectations, with performance supported in part by the early effect of select cost actions we announced last quarter," said Joe Scalzo, President and Chief Executive Officer.
Scalzo continued, "At the same time, we recognize significant work remains, and our priorities are unchanged. We are focused on strengthening our business model, improving the consistency of our execution, and reinvesting behind our most important brand opportunities to support household penetration. We believe steady progress against these actions will position Simply Good Foods to return to sustainable, profitable growth over time."
Third Quarter 2026 Results
Net sales of $357.0 million decreased 6.3% versus the comparable year ago period, driven by a decline for Atkins of 24.6%, which was only partially offset by Quest and OWYN growth of 1.1% and 3.6%, respectively. The Company's net sales performance was largely driven by known distribution-related declines for Atkins and softer retail takeaway, similar to what the Company experienced in the second quarter.
Total Simply Good Foods retail takeaway(5) decreased about 6.7% driven by a growth for Quest of 1.4% and a decline for OWYN of 1.3%, while Atkins declined 23.9%, which was largely as expected for the brand due to known distribution losses.