FORM 10-Q _______________________________________________________ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _______________________________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended May 27, 2023 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ Commission File Number: 001 ...

Financial Data and Key Metrics Changes - Adjusted EBITDA for Q2 2023 was $50.9 million, down from $54.2 million in the same period last year, reflecting a decline of $3.3 million due to supply chain cost inflation and international softness [23][56] - Net sales for Q2 2023 were $296.6 million, approximately the same as the year-ago period, resulting in year-to-date net sales of $597.5 million, an increase of 3.4% compared to last year [27][57] - Gross profit was $102.7 million, a decline of $5.8 million from the previous year, leading to a gross margin of 34.6%, down 200 basis points year-over-year [28][50] Business Line Data and Key Metrics Changes - Quest retail takeaway increased by 26% in Q2, driven by strong performance across all major forms and retail channels, with core bar business retail takeaway up 24.1% [12][25] - Atkins retail takeaway in measured channels increased by 3.3%, with a notable 35% increase in POS at Amazon [24][51] - Confection POS improved from the first quarter, but Q2 confections retail takeaway was down 1.5% due to strong prior year performance [13] Market Data and Key Metrics Changes - North American net sales performance exceeded expectations due to solid retail takeaway, although net sales were impacted by customer inventory reductions [11] - International net sales were softer than estimates, affected by a price increase initiated earlier in the year [11] - Retail takeaway in the US combined measured and unmeasured channels increased by 16% during the New Year season [22] Company Strategy and Development Direction - The company aims to focus on brand growth through marketing, innovation, and sales execution, referred to as the "brand growth flywheel" [9] - There is a commitment to expanding household penetration and driving growth through a solid pipeline of innovation [14][48] - The company is positioned as a leader in the nutritional snacking category, which remains under-penetrated, indicating a long runway for growth [26] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the company's future, highlighting strong consumer trends in the nutritional snacking category [20][48] - The company anticipates that retail takeaway will moderate in the coming quarters due to tougher year-ago comparisons and an uncertain economic environment [54] - Full-year fiscal 2023 gross margins are expected to decline more than previously estimated due to higher costs in the supply chain [33] Other Important Information - The company has made significant marketing and organizational investments over the past three years, which are expected to result in growth in consumer base and market share [33] - Year-to-date capital expenditures were reported at $1.7 million, with cash flow from operations at $53.3 million [31] Q&A Session Summary Question: Sales cadence for the rest of the year - Management noted that POS growth is healthy, with Q2 at +16% and March at +12%, indicating cautious optimism for the second half of the year [36][37] Question: Retailer inventory reductions - The company acknowledged a 3% headwind from retailer inventory reductions and expects this to be a factor moving forward [38][39] Question: Gross margin expectations - Management explained that gross margin came in lower than expected due to slower-than-anticipated flow-through of lower ingredient costs and higher supply chain costs [40][41] Question: Marketing investment and promotional activity - The company plans to increase marketing investment as gross margins improve, aiming for a healthy level of spending to drive brand awareness and trial [102][104] Question: International market performance - Management discussed challenges in international markets, particularly in Australia, where pricing elasticity has been limited [110][111]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _______________________________________________________ FORM 10-Q _______________________________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended February 25, 2023 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ Commission File Number ...

The Simply Good Foods Company (NASDAQ:SMPL) Q1 2023 Earnings Conference Call January 5, 2023 8:30 AM ET Company Participants Mark Pogharian - Vice President, Investor Relations Joe Scalzo - President and Chief Executive Officer Shaun Mara - Chief Financial Officer Conference Call Participants Chris Growe - Stifel Cody Ross - UBS Alexia Howard - Bernstein Jason English - Goldman Sachs Pamela Kaufman - Morgan Stanley Brian Holland - Cowen and company John Baumgartner - Mizuho Operator Greetings and welcome to ...

1 ▪ Atkins Q1 POS growth in combined measured and unmeasured channels increased about 4% as strong e-commerce growth outperformed flat measured channels - Retail takeaway at Amazon increased about 75% versus last year - Total unmeasured channel retail takeaway increased more than 40% ▪ In Q1, new buyer growth increased as post pandemic work trends improved - Buy rate slightly down but improving. Strength in meal replacement bars and shakes offset by snack bars and confections that lapped strong pandemic con ...

Financial Performance - Net sales for the thirteen weeks ended November 26, 2022, increased by $19.6 million, or 7.0%, to $300.9 million compared to the same period in 2021, driven by price increases and e-commerce sales growth [90]. - Gross profit decreased by $5.6 million, or 4.8%, to $111.0 million, resulting in a gross profit margin of 36.9%, down from 41.4% in the prior year [92]. - Net income for the thirteen weeks ended November 26, 2022, was $35.9 million, representing an increase of $14.7 million, or 69.5%, compared to $21.2 million in the prior year [90]. - Adjusted EBITDA for the thirteen weeks ended November 26, 2022, was $60.8 million, or 20.2% of net sales, compared to $65.6 million, or 23.3% of net sales, in the prior year [90]. - Adjusted EBITDA decreased by $4.8 million, or 7.4%, to $60.8 million for the thirteen weeks ended November 26, 2022, compared to $65.6 million for the same period in 2021 [98][100]. Costs and Expenses - Cost of goods sold rose by $25.2 million, or 15.3%, to $189.9 million for the thirteen weeks ended November 26, 2022, primarily due to higher raw material and co-manufacturing costs [91]. - Operating expenses remained flat at approximately $58.5 million for the thirteen weeks ended November 26, 2022, compared to the same period in 2021 [93]. - Selling and marketing expenses decreased by $2.0 million, or 6.5%, for the thirteen weeks ended November 26, 2022, primarily due to timing of marketing spend [98]. - General and administrative expenses increased by $1.9 million, or 8.2%, for the thirteen weeks ended November 26, 2022, mainly due to a $0.7 million increase in stock-based compensation [98]. Cash Flow and Financing - Cash provided by operating activities increased by $16.0 million to $8.7 million for the thirteen weeks ended November 26, 2022, compared to cash used of $7.3 million for the same period in 2021 [113]. - The outstanding balance of the Term Facility was $400.0 million as of November 26, 2022, with no principal payments required over the next twelve months [110]. - Net cash used in financing activities was $20.8 million for the thirteen weeks ended November 26, 2022, compared to $28.0 million for the same period in 2021 [115]. - The company had $54.1 million in cash as of November 26, 2022, sufficient to finance operations and growth strategy for at least the next twelve months [102]. Stock Repurchase - During the thirteen weeks ended November 26, 2022, the company repurchased 546,346 shares of common stock for $16.4 million, averaging a purchase price of $30.11 per share [111]. - As of November 26, 2022, approximately $71.5 million remained available for repurchases under the $150.0 million stock repurchase program [112]. Market Conditions and Outlook - The company expects inflationary cost pressures and supply chain challenges to continue for the remainder of fiscal year 2023 [81]. - The company continues to monitor macroeconomic conditions, including inflation and supply chain disruptions, which may impact consumer behavior and demand [80]. - The company expects to face logistics challenges and higher raw material costs in fiscal year 2023 [118]. - Price increases were instituted in the first and fourth quarters of fiscal year 2022 to mitigate rising costs [118]. - There is uncertainty whether the price increases will fully offset the effects of higher raw material and supply chain costs on financial results [118]. Sales Performance - North America net sales increased by 7.8% for the thirteen weeks ended November 26, 2022, while international business saw a decline of 16.5% [90]. - Interest expense increased to $7.1 million for the thirteen weeks ended November 26, 2022, from $6.4 million in the prior year, primarily due to rising interest rates [93].

Financial Data and Key Metrics Changes - Full year net sales growth was 16.2%, slightly exceeding expectations, while adjusted EBITDA increased by 13% [8][12] - Fourth quarter net sales increased by 5.5% to $274.2 million, driven by better-than-expected retail takeaway [30][13] - Gross margin for Q4 was 37.1%, a decline of 310 basis points year-over-year, primarily due to supply chain cost inflation [33][14] - Adjusted EBITDA for Q4 was approximately $51 million, an increase of 5.2% compared to the previous year [15][33] - Full year net income was $108.6 million, significantly up from $40.9 million in the prior year [39] Business Line Data and Key Metrics Changes - Quest brand saw a full year retail takeaway increase of 32.3%, outperforming the active nutrition segment growth of 20.4% [16] - Atkins brand retail takeaway increased by 3.2% in the weight management segment, which declined by 2.4% overall [17] - In Q4, Atkins retail takeaway in combined channels was slightly up, with e-commerce growth offsetting softness in traditional retail [18][19] - Quest's core bar retail takeaway increased by 11.1%, outpacing the bar category segment growth of 7.8% [24] Market Data and Key Metrics Changes - Combined measured and unmeasured channel U.S. retail takeaway growth for the full year was 15.5% [9] - For the six weeks ended October 8, point-of-sale growth in combined channels was up about 14% [11] - E-commerce growth for Atkins was significant, with Q4 POS at Amazon increasing by 75% [19] Company Strategy and Development Direction - The company aims to leverage its diversified portfolio across brands, products, and channels to navigate the recessionary environment [12][26] - Pricing and cost-saving initiatives are in place to offset projected supply chain dollar cost inflation [27][49] - The company is focused on maintaining brand relevance and expanding its consumer base through innovation and marketing investments [47][48] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism regarding growth prospects in a challenging economic environment, with expectations for supply chain costs to be higher in fiscal 2023 [11][47] - The company anticipates adjusted EBITDA growth to align with net sales growth, despite expected gross margin contraction [49][27] - Management noted that consumer behavior is shifting towards value-oriented purchasing, which may impact sales strategies [75] Other Important Information - The company repurchased $31 million of shares in Q4, with a total of $60 million repurchased for the full year [43][44] - Capital expenditures for fiscal 2022 were $5.2 million, with expectations of $5 million to $6 million for fiscal 2023 [45] Q&A Session Summary Question: Insights on new product activity and shelf resets - Management indicated a robust pipeline of new products for both Atkins and Quest, with expectations for continued retailer focus on larger brands during shelf resets [55][57] Question: Improvement in Atkins brand growth rate - Management noted that while there were challenges, the brand's relevance remains strong, and improvements in e-commerce and core products are expected to drive growth [61][64] Question: Inflation and gross margin outlook - Management confirmed that about 50% of costs are covered through hedging, with expectations for gross margin declines primarily in Q1 [70][72] Question: Price elasticity and volume declines - Management acknowledged that while there were volume declines, true consumption volume was up about 1% to 2%, and they are monitoring price elasticity closely [82][85] Question: Future growth for Quest bars - Management highlighted strong distribution growth and innovation pipeline for Quest bars, indicating a long runway for growth [95][98] Question: E-commerce growth for Atkins - Management attributed e-commerce growth to improved product offerings and strategic pricing, with plans to further enhance the catalog [101][103]

Fourth Quarter and Full Fiscal Year 2022 Earnings Conference Call & Webcast Presentation October 21, 2022 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 words such as "will", "expect", "intends" or other similar words, phrases or expressions. These forward-loo ...

FORM 10-K _______________________________________________________ (Mark One) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _______________________________________________________ ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended August 27, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______ Commission File Number: 001-38115 __ ...

The Simply Good Foods Company (NASDAQ:SMPL) Q3 2022 Earnings Conference Call June 30, 2022 8:30 AM ET Company Participants Mark Pogharian - Vice President of Investor Relations Joe Scalzo - President and Chief Executive Officer Todd Cunfer - Chief Financial Officer Conference Call Participants Chris Growe - Stifel Nicolaus Jason English - Goldman Sachs Jack Hardin - Stephens Alexia Howard - Bernstein John Baumgartner - Mizuho Securities Cody Ross - UBS Steve Powers - Deutsche Bank Eric Larson - Seaport Rese ...