Simply Good Foods Q1 Earnings Call Highlights

Adjusted EBITDA was $55.6 million, down 20.6%. Net income was $25.3 million versus $38 million a year ago, and diluted EPS was $0.26 versus $0.38. Adjusted diluted EPS was $0.39 compared with $0.49 in the prior-year quarter.Profitability fell year-over-year as the company absorbed higher costs. Gross profit was $109.9 million, down 15.8%, and gross margin was 32.3% on a GAAP basis, down 590 basis points. Beeler attributed the decline primarily to inflationary input costs—especially cocoa—and the first full ...