Simply Good Foods reports Q1 adjusted EPS 39c, consensus 36c

Reports Q1 revenue $340.2M, consensus $339.33M. “Our first quarter financial performance came in modestly ahead of our expectations. Total company consumption growth of 2% was led by Quest and OWYN, which grew aggregate consumption double-digits, while Atkins performed as expected,” said Geoff Tanner, CEO. “With our initiatives to accelerate our top line and rebuild our margins in the second half on track, we are reaffirming our full year outlook. Simply Good Foods (SMPL) remains well positioned as a leader in the mainstreaming of the high protein, low sugar and low carb nutritional snacking category. Given the long runways for growth for Quest and OWYN coupled with our history of strong margins and a proven track record of converting Adjusted EBITDA into free cash flow, I am confident the Company will create value for shareholders over the long term.”