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 ...

Financial Performance - Simply Good Foods Q3 net sales increased by 11.5%, which includes the impact of the Europe exit and Quest frozen pizza licensing agreement[8] - Net price realization contributed a high-single digit percentage point to net sales growth in Q3[8] - Q3 Adjusted EBITDA was $63.3 million, less than the previous year's $67.5 million[8] - Year-to-date net sales increased by 19.9%[23] - Year-to-date Adjusted EBITDA increased by 15.3%[32] - Adjusted Diluted EPS for Q3 was $0.44, and year-to-date was $1.23[33] Retail Performance - Simply Good Foods Q3 retail takeaway in combined measured and unmeasured channels increased by approximately 15%[8] - Atkins Q3 IRI MULO + C-store retail takeaway increased by 3.4%[14] - Quest Q3 IRI MULO + C-store retail takeaway increased by 30.6%[16] - Atkins retail takeaway at Amazon increased 39%[14] - Quest retail takeaway at Amazon increased about 23%[16] Outlook - The company anticipates that Q4 2022 retail takeaway will increase high-single digits on a percentage basis versus last year[19] - The company expects full-year fiscal 2022 gross margin to decline about 250 basis points versus last year[8, 40] - The company projects net sales to increase by 13% to 15% for the full fiscal year 2022[44]

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 May 28, 2022 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 - Total net sales for the second quarter increased by 28.7% to $297 million, with North American net sales rising by 31.5% primarily driven by volume [25][30] - Adjusted EBITDA increased by 27.1% to $54.2 million, attributed to higher sales and G&A leverage [11][26] - Gross margin declined by 250 basis points to 36.6%, impacted by supply chain cost inflation, although partially offset by pricing and favorable product mix [26][30] - Net income for the second quarter was $18.5 million, compared to a loss of $26.2 million in the prior year [30] Business Line Data and Key Metrics Changes - Simply Good retail takeaway in measured channels increased by 19.6%, with the weight management segment up by 0.4% and Atkins outperforming with a 6.4% increase [13][15] - Quest retail takeaway surged by 40.1%, significantly outpacing the Active Nutrition segment growth of 20.5% [14][19] - Atkins shakes saw a retail takeaway increase of 11.7%, while all other product forms, including cookies and chips, showed strong growth [16][17] Market Data and Key Metrics Changes - U.S. retail takeaway in unmeasured channels, primarily e-commerce, increased in low double digits compared to the previous year [14] - The overall retail takeaway growth in the mass and convenience channels was nearly 45% [20] - The company anticipates retail takeaway to continue being solid, although growth rates in the second half of the year are expected to be more challenging due to tougher year-over-year comparisons [21][22] Company Strategy and Development Direction - The company is focusing on driving sales and earnings growth while navigating a challenging supply chain environment, with plans for price increases in the fourth quarter due to ongoing cost inflation [12][23] - A licensing agreement for the Quest frozen pizza business was entered into with Bellisio Foods, indicating strategic moves to optimize brand portfolios [12] - The company aims to maintain a strong balance sheet and cash flow generation to invest in business growth and evaluate M&A opportunities [42] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving full-year objectives despite challenges, with expectations for net sales growth of 13% to 15% for the fiscal year [39][40] - The company is cautious about workplace mobility improvements and the unpredictable nature of COVID-19, which may impact future performance [22][63] - Management noted that consumer response to price increases has been stronger than expected, with lower elasticity observed [82] Other Important Information - The company repurchased $20.4 million of its common stock during the second quarter, indicating confidence in its stock valuation [36] - The anticipated full-year fiscal 2022 cash flow from operations is expected to be similar to the previous year due to tax payment timing [35] Q&A Session Summary Question: Guidance for back-half sales growth - Management explained that the guidance reflects a two-point negative impact from the European exit and licensing, with expectations for organic growth around 8.5% [46][48] Question: Success of new product forms for Atkins - Management indicated that the confection business for Atkins is about 25% of the portfolio, with early results for cookies being promising [49][50] Question: Input cost coverage - Management confirmed that over 90% of input costs are covered through contracts with suppliers, with no financial hedges involved [56] Question: Pricing strategy and elasticity - Management noted that the need for additional pricing was due to higher-than-expected inflation, with minimal impact expected in the current fiscal year [61][82] Question: Consumer trade down evidence - Management stated that there has been no evidence of consumer trade down into or out of the category [86][87] Question: M&A environment and valuation expectations - Management observed that seller expectations are starting to change, making the environment more conducive for potential deals [99]

Second Quarter Fiscal Year 2022 Earnings Conference Call & Webcast Presentation April 6, 2022 0 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-looking state ...

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 26, 2022 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 ...