Earnings call transcript: Simply Good Foods' Q2 2025 earnings beat expectations

Published 09/04/2025, 15:02
Earnings call transcript: Simply Good Foods' Q2 2025 earnings beat expectations

Simply Good Foods Co (SMPL) reported stronger-than-expected earnings for the second quarter of fiscal year 2025, with adjusted earnings per share (EPS) of $0.46, surpassing analysts' forecast of $0.41. The company's revenue reached $359.7 million, exceeding the prior year's performance despite falling short of the forecasted $354.55 million. Following the earnings release, Simply Good Foods' stock surged by 9.54% in pre-market trading, reflecting investor optimism. According to InvestingPro data, the company currently appears undervalued based on its Fair Value analysis, with a market capitalization of $3.6 billion and strong financial health metrics.

Key Takeaways

  • Simply Good Foods' EPS of $0.46 exceeded expectations by $0.05.
  • Revenue rose 15.2% year-over-year, driven by strong organic growth and contributions from new products.
  • The stock price increased by 9.54% following the earnings announcement.
  • Simply Good Foods maintains a strong position in the nutritional snacking market with innovative product launches.
  • The company continues to reduce debt, improving financial stability.

Company Performance

Simply Good Foods demonstrated robust performance in Q2 2025, with total net sales growing by 15.2% year-over-year to $359.7 million. The company's organic growth of 4.4% was complemented by significant contributions from its Owen product line, which added $33.8 million to sales. The company's adjusted EBITDA increased by 17.6% to $68 million, showcasing its ability to manage costs effectively while expanding its market presence. InvestingPro analysis reveals the company maintains a strong gross profit margin of 39.3% and has achieved an impressive five-year revenue CAGR of 21%.

Financial Highlights

  • Revenue: $359.7 million (+15.2% YoY)
  • Adjusted EPS: $0.46 (up from $0.40 last year)
  • Adjusted EBITDA: $68 million (+17.6% YoY)
  • Cash: $103.7 million
  • Net debt to adjusted EBITDA: 0.7x

Earnings vs. Forecast

Simply Good Foods reported an EPS of $0.46, beating the forecast of $0.41 by approximately 12.2%. This positive surprise reflects the company's ability to leverage its product innovations and market expansion effectively. Although revenue of $359.7 million was below the forecast of $354.55 million, the significant year-over-year growth highlights the company's strong performance trajectory.

Market Reaction

Following the earnings announcement, Simply Good Foods' stock price rose by 9.54%, reflecting investor confidence in the company's growth prospects and financial health. The stock's movement aligns with its 52-week range, with a last close value of $33.19, indicating strong market sentiment.

Outlook & Guidance

Looking ahead, Simply Good Foods expects total net sales to increase by 8.5-10.5% for the fiscal year 2025. The company anticipates Owen's net sales to reach $140-150 million, with adjusted EBITDA growth projected at 4-6%. However, the company expects gross margins to decline by approximately 200 basis points, with an effective tax rate of 24%. Analyst consensus from InvestingPro remains bullish, with price targets ranging from $35 to $47, suggesting potential upside. The platform offers 6 additional exclusive ProTips and comprehensive financial analysis in its Pro Research Report, helping investors make informed decisions about SMPL's growth trajectory.

Executive Commentary

CEO Jeff Tanner highlighted the company's strategic positioning in the nutritional snacking market, stating, "Quest almost stands alone in its ability to pull this off." He also emphasized the growth potential of Owen, saying, "We are in the early innings of Owen's growth story." Tanner noted the broader consumer trend towards high protein, low carb, low sugar products, which aligns well with the company's offerings.

Risks and Challenges

  • Distribution challenges for the Atkins brand could impact sales.
  • Potential cost pressures may affect profitability despite productivity initiatives.
  • Market saturation in the nutritional snacking segment could limit growth.
  • Economic uncertainties could influence consumer spending patterns.

Q&A

During the earnings call, analysts inquired about the distribution challenges faced by the Atkins brand and the expansion plans for Quest products in new store locations. The company addressed these concerns by highlighting ongoing efforts to enhance distribution networks and capitalize on growth opportunities, particularly with club customers in fiscal year 2026.

Full transcript - Simply Good Foods Co (SMPL) Q2 2025:

Conference Operator: Greetings, and welcome to Simply Good Foods Company's Fiscal Year twenty twenty five Second Quarter Conference Call. At this time, all participants are in a listen only mode. A question and answer session will follow the formal presentation. As a reminder, this conference is being recorded. At this time, it is now my pleasure to introduce Josh Levine, Vice President of Investor Relations.

Thank you, Josh. You may now begin.

Josh Levine, Vice President of Investor Relations, Simply Good Foods: Thank you, operator. Good morning, and welcome to the Simply Good Foods Company fiscal year twenty twenty five second quarter call for the thirteen week period ended 03/01/2025. Today, Jeff Tanner, President and CEO and Sean Mara, CFO will provide you with an overview of results, which will

Jeff Tanner, President and CEO, Simply Good Foods: then be followed by a Q and A session.

Josh Levine, Vice President of Investor Relations, Simply Good Foods: The company issued its earnings release this morning at approximately 7AM Eastern Time. A copy of the release and accompanying presentation are available on the Investors section of the company's website at www.thesimplygoodfoodscompany.com. This call is being webcast and an archive of today's remarks will also be available. During the course of today's call, management will make forward looking statements that are subject to various risks and uncertainties that may cause actual results to differ materially. The company undertakes no obligation to update these statements based on subsequent events.

A detailed listing of such risks and uncertainties can be found in today's press release and the company's SEC filings. Note that on today's call, we will refer to certain non GAAP financial measures that we believe will provide useful information for investors. Due to the company's asset light, strong cash flow and business model, we evaluate our performance on an adjusted basis as it relates to EBITDA and diluted EPS. Please refer to today's press release for a reconciliation of the historical non GAAP financial measures to the most comparable measures prepared in accordance with GAAP. The acquisition of Only What You Need Inc, Owen was completed on 06/13/2025.

Therefore, the company's year ago performance for the 13 ended 02/24/2024 does not include results of the Owen business. The reference to organic or legacy Simply Good Foods refers to Simply Good Foods' business excluding Owen. All retail takeaway data included in our discussion today unless otherwise noted is for the thirteen weeks ended 03/02/2025 and reflects a combination of new low plus plus C performance and company estimates for unmeasured channels as compared to the prior year. Finally, please note that today's earnings release includes a new table summarizing net sales by geography and brand for the current and prior year periods. I will now turn the call over to Jeff Tanner, President and CEO.

Jeff Tanner, President and CEO, Simply Good Foods: Thank you, Josh. Good morning everyone and thank you for joining us. I'll begin by reviewing our performance during the quarter. Then Sean will discuss our financial results in more detail before we wrap it up with a discussion of our fiscal year twenty twenty five outlook and your question. Before I begin, I want to acknowledge the announcement we made back in January that our CFO, Sean Mara, will be retiring this summer following a long and successful career.

Sean has been with the company in multiple senior management roles for many years, including as CFO of Atkins Nutritionals prior to the IPO and as the leader of the highly successful integration of Quest. More recently, in addition to leading our finance organization since late twenty twenty two, Sean has been instrumental as a partner to me and as a strategic thinker and phenomenal financial executive. On behalf of everyone at Simply Good, I wish Sean continued success in retirement. I'm also thrilled to welcome Chris Beeler to Simply Good Foods. Chris joined us last week as Senior Vice President of Finance and is expected to succeed Sean upon his retirement in July.

Chris brings almost twenty three years of experience in consumer packaged goods and consumer durables in North America and global markets. And like Sean, has extensive financial, strategic and operating experience. Chris is here with us today. However, given it's day seven for him, he won't be available for questions. Turning to our results.

Our momentum continues with double digit growth for Quest and Owen more than offsetting declines for Atkins. Specifically, first half retail sales for Quest and Owen, which collectively represent approximately 70% of our net sales today, increased 1257% respectively. Across the company, we are executing well, adding new doors, winning with innovation and driving brand awareness and household penetration. Specific to the quarter, net sales increased 15% versus last year with 4% organic growth driven by Quest performance. Assuming Owen was included in the year ago period, Retail Takeaway for total Simply Good Foods grew 7% and adjusted EBITDA increased 18%.

Sean will provide you with more details on our Q2 results shortly. Our growth and long term strategy are underpinned by solid category fundamentals. We remain excited by the trajectory of the nutritional snacking category as well as the interest and engagement from our retail partners. Total nutritional snacking category growth was 12% in Q2, marking the sixteenth consecutive quarter with category growth of at least high single digits. Category growth reflects the continued mainstreaming of consumer demand for high protein, low sugar, low carb food and beverage options.

With a diversified portfolio of three uniquely positioned brands aligned with these consumer megatrends, we believe Simply Good is well positioned to lead this generational shift in food and beverage. Let me now turn to Quest, which delivered another quarter of strong double digit retail takeaway and net sales growth. Quest now represents 60% of the company's net sales, is one of the leading brands in the nutritional snacking category and is arguably the pioneer of the mainstreaming of this category. As Quest approaches $1,000,000,000 in net sales, we continue to see a long runway for growth led by three key drivers. First, leading with innovation.

By leveraging our world class R and D and supply chain teams, we will build upon current platforms and enter new adjacent categories ripe for disruption. Our salty snacks platform is a great example where we've grown to a $300,000,000 plus business in just the last few years. Second, expanding physical availability of our products. We continue to seek ways to grow our presence across the store and online. This includes continuing to expand distribution in our current aisle, introducing the Quest brand in mainline snacking aisles and increasing displays and merchandising everywhere as well as penetrating new channels.

And third, increasing brand awareness. Quest's disruptive It's Basically Cheating campaign last year was a tremendous success, both a short and long term increase in net sales. Since we dropped the ads, Peloton penetration is up over 100 basis points. However, at only 15% unaided brand awareness for the brand today, we have lots of room for further upside. Q2 retail takeaway for the brand was up 13%.

There were several key drivers of Quest growth in the quarter. First, we saw continued broad based growth from our salty snacks platform, which was up 45% in the quarter and which now represents approximately 35% of total Quest retail sales. Growth was enabled by the doubling of manufacturing capacity last fall that supported strong customer service levels and very strong merchandising and display support. An exciting element of our growth on Quest Salty was a successful national test at a key club customer, which was a nearly three point benefit to our consumption growth in the quarter. We are in active dialogue about further opportunities with this customer, where we're confident we can build a robust business in the quarters and years to come.

Considering the size of the broader salty snacks category, low household penetration and awareness, leading loyalty rates, strong velocities and high incrementality, we remain very confident there is a long runway for growth for our Salty Snacks business. The second driver of Quest growth was the continued success of our Bakeshop platform, which is proving to be highly incremental to the brand and the category. We're excited about the future expansion we have coming on this platform in the fall. And third, as mentioned, the ongoing effect of our award winning, it's basically cheating advertising campaign. Turning to Quest Bars, we're particularly excited about the launch of our new Overload Bar platform, which you should have already begun to see show up on shelves and online.

As a reminder, our delicious overload bars come in three highly indulgent flavors and are loaded with inclusions. Finally, as we announced last month, we recently launched a line of delicious ready to drink Quest milkshakes. Sticking to Quest's disruptive ethos of flipping the macros, each milkshake features 45 grams of complete protein from ultra filtered milk with only two grams of sugar and four grams or less of net carbs. We have been encouraged by initial retail acceptances for our three flavors of vanilla, chocolate and strawberry, and we're excited about the opportunity. Similar to our overload bars, you should expect ACV to build through the calendar year.

To wrap it up on Quest, we're pleased with our Q2 performance and we've increased our retail takeaway assumptions for the year, with growth now expected to be in the low double digit range. We continue to be very excited about the momentum and continued runway for the brand. Turning to Atkins. Consumption declined 10% with combined January and February down low double digits. As we discussed on our Q1 conference call, accelerated declines were expected due to not repeating significant year ago volume driving displays and bonus pack programs at several key customers.

Not repeating these events accounted for almost all of the incremental declines relative to negative 4% takeaway growth in Q1. Importantly, for Total Simply, we were able to successfully partner with retailers to shift display support into Quest and Owen, which both saw expanded features and displays to begin the calendar year. Similarly, at a key club customer where Atkins is losing significant distribution this year, we have partnered to replace lost SKUs with wins for more productive Quest and Owen SKUs. You will see those contributions build over the next year and be a benefit to growth for the total company. At roughly 30% of our net sales today, we know that Adkins trends are a meaningful drag on growth.

As discussed, our goal is to right size investment levels on the brand in support of building a sustainable healthy business. These decisions will create short to medium term headwinds. Specifically, the declines we've observed since January will continue through Q3 and into Q4. Again, these declines are due to lapping lapping significant low ROI merchandising from the year ago period and distribution losses at Club. Again, to reiterate, we are partnering to offset those space declines with increases for Quest and OWEN that will show up over the next six to twelve months.

As a result of our first half performance and modestly reduced retail takeaway expectations for the second half, we now expect full year POS to decline in the low double digits range. While we expect a smaller footprint for Atkins moving forward, our consumer research and customer conversations continue to reinforce a strong need for a brand to help consumers with their weight loss journey. An important subset of those on GLP-one drugs, where our research clearly shows an opportunity to position Atkins as an ally to consumers using or coming off these drugs. We remain committed to supporting the brand with strong innovation, new packaging, a new website and new advertising. This includes building upon our recently introduced Atkins Strong platform, which is resonating with new and existing households.

All in, we believe the actions we are taking will improve the trajectory of the brand over time in support of building a healthier, more profitable and sustainable long term business. Moving on, Owen had another strong quarter with retail takeaway up 52%. Ready to drink shakes grew 53% with distribution up 22%, helped by expanding into new doors and by adding more SKUs per store. Owen remains one of those rare gems that can grow distribution and velocity in parallel. Even as we lap significant distribution gains at club from a year ago, we continue to be very optimistic about the year, supported by ongoing velocity growth and some incremental distribution gains beginning this spring.

Owen is one of the fastest growing brands of scale in the category. However, while we're very pleased with trends on the business today, there are several reasons why we believe we are still in the early innings of Owen's growth story. First, while Owen has emerged as the clear plant based leader with RTDs turning 50% faster than our nearest competitor in MULo channels, the brand's superior taste profile is increasingly attracting mainstream consumers, which make up the lion's share of the high growth $8,000,000,000 category. Second, the brand has low single digit household penetration and awareness. Third, despite such low awareness levels, Owen's velocities and MULO channels today are already among the industry leaders in its core four pack sub segment with continued double digit momentum at many retailers.

And fourth, we averaged about seven SKUs per store today, well below most competitors. And as we proved with Quest, our sales force is highly effective at driving distribution growth. With continued velocity increases and our plan to add new doors, channels, flavors and pack sizes, we remain confident we can double net sales of the core business in the next three to four years. The integration is progressing well. And with synergy capture starting at the onset of fiscal twenty twenty six, we are confident Owen will deliver on its adjusted EBITDA margin targets.

To summarize, Simply Good is uniquely positioned as the leader in the fast growing nutritional snacking category. Obviously, it's a dynamic time with a lot of uncertainty and pressure on consumer sentiment. But with that said, by far the majority of our products are made and sold in The United States. We have a very agile supply chain using co packers for all our products and our category over indexes with high income consumers with relatively low levels of private label and promoted volume. But despite today's uncertain backdrop, we plan to be at the forefront of the generational shift as demand for high protein, low sugar and low carbon food and beverage products continues to mainstream.

We will do this by continuing to introduce innovative and delicious new products, expanding our physical availability across the store and through our brand building initiatives. And with approximately 70% of our portfolio through Quest and OM, driving aggregate double digit growth, we are confident in our ability to deliver sustainable growth and create meaningful shareholder value. I'll now turn the call over to Sean to provide you with details of our financial results.

Sean Mara, CFO, Simply Good Foods: Thank you, Jeff. Welcome, Chris, and good morning, everyone. I will begin with an overview of our net sales. Total Simply Good Foods second quarter net sales of $359,700,000 increased 15.2% versus last year, driven by the year one contribution from Owen of $33,800,000 or 10.8% as well as 4.4% organic growth. Quest net sales grew 16.5% in the quarter, benefiting from strong retail takeaway and the expected timing benefit of Q1 shipments that slipped into Q2.

First half shipments and consumption growth were essentially in line for Quest as expected. Atkins net sales declined 11.5% due to lower consumption versus prior year as well as the expected reduction in trade inventory this year as a result of a lost club distribution, which compared to a trade build in Q2 of last year. Owen had another strong quarter with retail takeaway again, up strong double digits. Gross profit was $130,100,000 an increase of $13,300,000 or 11.4% from the year ago period, driven by volume growth and the inclusion of Olin. From a margin perspective, gross margin was 36.2%, a 120 basis point decline with modestly favorable legacy input costs offset primarily by the inclusion of Owen in our results.

The non cash inventory step up purchase accounting adjustment, which is now completed, was a headwind of $438,000 or 10 basis points to gross margin in the quarter. GAAP selling and marketing expenses of $35,100,000 were up modestly versus prior year, driven by the inclusion of Owen to the portfolio, offsetting declines on the legacy business. GAAP G and A expenses were $36,000,000 an increase of $6,100,000 versus last year. Excluding stock based compensation, one time O and integration costs and term loan transaction fees, Q2 G and A increased $3,000,000 to $28,600,000 driven primarily by the addition of Owen to the portfolio. Adjusted EBITDA was $68,000,000 an increase of $10,200,000 or 17.6% from the year ago period.

Net interest expense was $5,600,000 an increase of approximately $1,000,000 versus last year. The year over year increase was primarily driven by a higher debt balance due to the Owen acquisition. Our Q2 effective tax rate was 25% compared to 23.7 in the year ago period. As a result, net income was $36,700,000 reflecting 10.9% growth versus last year. On a first half basis, trends were similar to Q2 with gross profit and adjusted EBITDA growth of 12.315.2% respectively, driven by net sales growth, favorable commodities and cost discipline.

I want to commend our teams for their excellent focus on delivering strong results so far this year. Second quarter reported EPS was $0.36 per diluted share versus $0.33 in Q2 last year. Adjusted diluted EPS was $0.46 compared to $0.40 in the year ago period. Note that we calculate adjusted diluted EPS as adjusted EBITDA, less interest income, interest expense and income taxes. Please refer to the press release for an explanation and reconciliation of non GAAP financial measures.

Moving to the balance sheet and cash flow. As of 03/01/2025, the company had cash of $103,700,000 and outstanding principal balance on its term loan of $300,000,000 bringing our net debt to trailing twelve month adjusted EBITDA to 0.7 times. During the quarter, the company repaid $50,000,000 of its term loan debt and has voluntarily repaid $100,000,000 since the beginning of the fiscal year. I would also highlight that during the quarter, we opportunistically repriced our term loan, lowering the effective margin on the debt by 60 basis points or nearly $2,000,000 on an annualized pretax basis at the time of

Jeff Tanner, President and CEO, Simply Good Foods: the

Sean Mara, CFO, Simply Good Foods: refinancing. Fiscal year to date cash flow from operations was approximately $63,300,000 compared to $94,000,000 last year. The decline was primarily due to higher uses of working capital, principally inventory. Capital expenditures in the first half were $800,000 I will now discuss our updated outlook for the year. As you saw in this morning's press release, due to solid retail takeaway and adjusted EBITDA growth to start the year, we are reaffirming our fiscal year twenty twenty five outlook.

Therefore, fiscal year twenty twenty five, total reported net sales are expected to increase 8.5% to 10.5% with organic net sales growth driven primarily by volume. Embedded in that, we anticipate owned net sales to be in the 140,000,000 to $150,000,000 range and total company adjusted EBITDA is expected to increase 4% to 6% with gross margins expected to be down approximately 200 basis points versus last year. To be clear, our gross margin guidance for the year, which has not changed, continues to incorporate higher inflationary pressures in the second half as well as a preliminary estimate for the anticipated costs related to recently announced tariffs. As a reminder, the fifty third week in fiscal year twenty approximately two percentage point headwind to growth for net sales and adjusted EBITDA in fiscal year twenty twenty five. Below adjusted EBITDA, we now assume net interest expense will be in the range of 21,000,000 to $23,000,000 inclusive of non cash amortization expense related to deferred financing fees.

This is an improvement from last quarter, reflecting the additional $50,000,000 reduction of our term loan balance and the opportunistic repricing of our term loan that closed in January. Our effective tax rate is now expected to be 24%, while we continue to assume capital expenditures will be 10,000,000 to $15,000,000 for the year. And by fiscal year end, we expect to have repaid essentially all of the $250,000,000 we borrowed to finance the own acquisition less than a year ago, with net leverage expected to finish the fiscal year around 0.5 times. Finally, I would note that our outlook assumes current economic conditions and consumer purchasing behavior remain generally consistent over the balance of company's fiscal year. For a comprehensive summary of our updated assumptions, see slide 16 in our presentation.

That concludes our prepared remarks. Thank you for the interest in our company. We are now available to take your questions.

Conference Operator: Thank you. We'll now be conducting a question and answer session. If you'd like to ask a question, please press 1 on your telephone keypad and a confirmation tone will indicate your line is in the question queue. And our first questions are from the line of John Baumgartner with Mizuho Securities.

Please proceed with your questions.

John Baumgartner, Analyst, Mizuho Securities: Hi, good morning. Thanks for the question.

Sean Mara, CFO, Simply Good Foods: Good morning. Good morning, John.

John Baumgartner, Analyst, Mizuho Securities: Maybe two from me. First off on Atkins, Jeff, in light of the reduction in sales guidance for F25, now down low doubles versus the prior down high singles. Can you walk through what's driving that reduction? And I guess specifically, I'm curious as to what you're learning about the Atkins consumer as you move through these adjustments. Is the consumer proving more promo dependent than maybe you perceive?

Are you seeing a larger spillover drag on baseline volumes resulting from lower promo? Any insights would be appreciated.

Jeff Tanner, President and CEO, Simply Good Foods: Yes. So our full POS guidance is now down low double digits versus high single digits. I do want to point out that first half consumption is in line with our forecast with Q1 slightly ahead, Q2 slightly behind. As we stated in the January call, we expected accelerated declines in Q2 as a result of not repeating significant display space from last year. So as an example, John, one of our largest customers, display space was down 70% through the new year, new year period, which I will say we did manage to offset with some gains for Quest and Owen, but that was significant decline in display space for Atkins, which is what we expected.

The new news is that over the balance of the year we did lose a little more distribution at a key club customer than we thought. And that's the extent of the change in our guidance for the back half of the year. Again, we expect to largely offset this decline at this customer with gains for Quest and O and with a bit of a lag, but those offsets will go into place. So the story here is that we have very strong customer relationships. We're category advisors to most customers.

And in conversations with those customers, which we've had over the last three or four months, where we see opportunities to switch out tailed SKUs, underperforming SKUs on Atkins with faster turning Quest and Owen SKUs, we will do this. So that's the story on Atkins, largely as we expected, just with that additional reduction from a club customer.

Josh Levine, Vice President of Investor Relations, Simply Good Foods: So John

John Baumgartner, Analyst, Mizuho Securities: just No, nothing incrementally sorry, sorry.

Sean Mara, CFO, Simply Good Foods: We give, just let me add a couple of points here. So in addition to maintaining our shelf space for the portfolio, the shift from Atkins space to Quest is actually accretive to the company's overall contribution margin. So Quest contribution margin percentage is about 10 points higher than Atkins. I bring this up as historically we've said contribution margins of the brands are basically similar. Couple of things have driven this over the last few years.

First of all is inflation. Inflation on the majority of the Atkins portfolio has been significant with cocoa and CLI in our bars and confections. While Quest has seen this inflation as well, the growth in Quest in the last few years is really driven by chips where we've seen little inflation in the ingredients. And second, as we talked about over the last year, investment levels on Atkins have remained high despite the sales declining and are above the investment levels for Quest. As a result of that, the contribution margins of the two brands have diverged.

Just one last point as we think going forward, once we get the synergy capture for Owen, its contribution margin should be in line with Atkins beginning next year. So just want to dimensionalize it a little bit.

Jeff Tanner, President and CEO, Simply Good Foods: That's a great point, Sean. So what we're really doing here, John, is where it makes sense, tail SKUs underperforming SKUs for Atkins, we're switching in faster turning, more profitable SKUs on Quest and Elm.

John Baumgartner, Analyst, Mizuho Securities: Yep, great. And then secondly, just sticking with Quest and the relaunch of the shakes, the brands participated in that segment for probably five years or so, but there's been pretty large variations in distribution and I think very little brand investment. What prompted you to pursue this relaunch in shakes now? How are you thinking about positioning in the category given the changes to the protein base, to the packaging? Should we expect higher incrementality as we're seeing with Bakeshop?

Maybe just, Jeff, what high level, what do you anticipate will be different relative to Version one point zero?

Jeff Tanner, President and CEO, Simply Good Foods: It's a great point. What I'll say is one point zero, which I think was launched around the time of the acquisition, was essentially just another 30 gram meat shake. And the ethos of what Coet does is it flips the macros on generally unhealthy categories, so replacing high carb, high sugar with high protein, low sugar. And so when Quest launched what we had met with a Me Too product, it didn't do very well. We challenged ourselves.

Obviously we look at the size of the shakes category, the growth of it. How would Quest enter this category? How would we do it in a Quest way? And the concept is, well, we can't flip the macros on a 30 gram regular shake, but we can flip the macros on a milkshake. And our research showed that the indulgence of a milkshake was one of a huge unmet demand for our consumer base.

So we said, how would we flip those macros on a milkshake? And that led us to this concept which we then backed up by taking protein levels up to a category leading 45 grams, highest in the category, two grams of sugar, four grams of less than their carbs. We were also able to deliver that with ultra filtered milk, which we believe delivers a superior taste experience for the consumers. So I don't want to overburden this with high expectations, but it is a very, very different proposition that was launched this is what was launched five years ago. Our research suggests that it is bull's eye for the Quest consumer.

We've been very pleased with retailer acceptances so far. But that being said, it really is the first month of the launch of this platform.

John Baumgartner, Analyst, Mizuho Securities: Thanks, Jeff. Thanks, Sean.

Sean Mara, CFO, Simply Good Foods: Thanks, Jeff.

Conference Operator: The next question is from the line of Megan Klap with Morgan Stanley. Please proceed with your question.

Megan Klap, Analyst, Morgan Stanley: Hi, good morning. Thanks so much for taking our question. Good morning. Good question I just wanted to ask on gross margin guide. First half, obviously, I think much better than at least consensus than I think you were expecting.

You did maintain the full year. It does seem like a part of that is tariffs. But I guess, just looking at your slides, I think you called out 100 basis points from input costs and tariffs versus I think it was 150 basis prior and maybe a little bit more from Owen. So it just seems like there's some puts and takes. Maybe you could just help us unpack what's changing in the gross margin guide and how much visibility you have on input costs at this point?

I think you said in April you expected to be covered for the year. Thank you.

Sean Mara, CFO, Simply Good Foods: Yeah, I mean, honestly, a lot of unknowns at this point in time, especially on tariffs. But let me start with the Q2 results. I mean, gross margin was better than we planned for two major reasons. One, we had a slower flow through of higher priced cocoa and CLI that we anticipated, largely because of the fact that Atkins had a sales miss in the Q. Said differently, the higher costs are there, they just haven't hit our P and L yet, are sitting in raw material inventory at our Comans.

And second, there was favorable brand mix from Atkins to Quest helping the gross margin. I'd also point out that in the second quarter, we benefited from a key ingredient in our chips that was down about 50% versus the first half of last year. Now that was masking the unfavorable impact on inflation we've seen in Whey, which basically doubled in the first half this year versus last year. We largely planned for that, but I mentioned that as we look to the second half, we anticipate the inflation on whey continuing. We expect CLI and cocoa inflation to increase significantly, while the benefit we saw on in the first half lapping these elevated commodity costs in our chips is going to go away as we procured that lower price in the second half of last year.

The second dynamic here really is tariffs. Let me start with a caveat here, like everybody else, we're still trying to figure this out and trying to understand where we are. First and foremost, thankfully our manufacturing network is largely based in The U. S. We have a limited number of items produced in Canada that we believe should be covered under USMCA exemptions, which at this point remain exempt from the 25% tariff imposed on import from Canada and Mexico.

As it relates to raw materials and packaging, we estimate about 15% to 20% of our total COGS will be affected by tariffs. That should be a headwind of about $5,000,000 to $10,000,000 in fiscal twenty twenty five, really depending a little bit on flow through and product mix. So we largely have that covered in our guidance. That said, we have not been able to estimate the impact of any retaliatory tariffs and those are not built in. Conversely, some ingredients we're currently assuming are impacted by the tariff may be covered by USMCA exemption or other exemptions for ingredients, I.

E. Dairy, which would reduce the exposure. But by and large, we don't estimate this is a major impact for fiscal twenty twenty five results as we believe it's limited to raw materials and flow through that will only impact us in the last two or three months of the year. Lot of unknowns there, if tariffs somehow go away or delayed further, our margins would improve, but it's likely we'll reinvest that back into the business probably in marketing. And the last point I'll make is to your question, we're largely covered for commodities through the rest of the year, so there really isn't an exposure on that.

The real big exposure is going to be in tariffs. I don't know if it helps or not, but

Jeff Tanner, President and CEO, Simply Good Foods: The only build I would give to that is over the past twelve months, we have stepped up our productivity initiatives. If you recall going back a year ago, cocoa spiked considerably. In response to that, we realized we needed a stepped up productivity program, which I'm very, very pleased with how that is delivering, with results that have certainly helped us in 'twenty five but will flow through into 'twenty six to help mitigate, some of these cost shocks.

Megan Klap, Analyst, Morgan Stanley: That's really helpful. Obviously, a very uncertain time period, so appreciate all the color. Maybe a follow-up for Jeff on Atkins to John's question earlier. Last quarter, I think you talked about you were focused on three calendar time frames. We're through two of the three Maybe as you think about the fall twenty twenty five resets, maybe you can spend a little bit more time unpacking performance maybe of your new innovation.

I think last quarter, you gave us some color around performance at your largest customer. Maybe you could just talk about how some of that performed through the New Year and just get a sense of how you're feeling about this third calendar time frame as we head into the fall 'twenty five resets.

Jeff Tanner, President and CEO, Simply Good Foods: Yeah. As we head into the fall 'twenty five resets, we do expect, and we said this in the script, Atkins to have a slightly smaller footprint. Coming back to John's question, as we continue to, where there are opportunities to mix in faster turning, more profitable Quest and O and SKUs. So we expect that because they have a slightly smaller footprint. That being said, we do believe and remain very committed to the long term role and vitality of this business.

As you look at the demand for weight wellness solutions, is higher than ever, 60% of people actively looking to lose or maintain weight. The cultural conversation on weight has changed and increased, very much driven by these new GLP-one drugs. And our research shows that Atkins is a trusted brand in this space to help consumers on their weight loss journey. And particularly we see GLP-one drugs and consumers on those drugs as representing a significant opportunity, whether it be helping them when they're on the drugs or helping them as an off ramp. So while we expect a slightly smaller physical footprint moving forward, we're still committed to building this brand, stabilizing this brand.

The new products that we launched are a critical component of that. If you recall last fall, we launched 17 new items, generally performing very well, and at key accounts roughly turning two times the rate, the items that they replaced. Atkin Strong, which is a 30 gram protein shake platform, is performing very well. We've got new packaging coming out. We've got new advertising coming out.

And we're certainly working with retailers as they try to figure out how to take a leadership position in weight wellness, particularly with GLP-one consumers. So yes, on the one hand, in partnership with retailers, expect a smaller footprint. On the other hand, pleased with the revitalization efforts and we're very committed to stabilizing this business going forward.

Megan Klap, Analyst, Morgan Stanley: Okay, great. Thank you so much.

Conference Operator: The next questions are from the line of Brian Holland with D. A. Davidson. Please proceed with your questions.

Brian Holland, Analyst, D.A. Davidson: Yeah, thanks. Good morning. I wanted to start with Owen. Just trying to get a sense, the revenue number came in a bit light of what I was forecasting, your full year guide, you took it up, implying second half would accelerate from what we saw in the first half. So just curious, obviously, the consumption data has decelerated, lapping the big distribution gains.

But as you pointed out, you're still growing velocity on top of that. So just the specific catalyst driving your confidence in an acceleration in the revenue number in the second half of the year for Owen.

Jeff Tanner, President and CEO, Simply Good Foods: Yeah. No, so we did expect and plan for a decel on Owen as we were lapping some new doors as well as a program we didn't repeat a large customer. But as you think about Owen moving forward, we remain extremely excited about this acquisition, still in the early innings. And there are several reasons for that. We see continued distribution upside on the business.

The brand ACV today is almost 60%. We only have seven SKUs on average. We see upside relative to our peers as we look banner by banner. We've got an exciting innovation platform. And we know that new distribution is coming in April and we expect those gains to continue based on the conversations we're having with retailers.

There's significant distribution upside. The velocities continue to impress me. The highest velocities in the plant based shape segment, number two within four packs and Nilo channels, even compared to our dairy based competitors, and we're increasingly sourcing volume from mainstream consumers. We've got a powders business that's small, dollars 25,000,000, but growing triple digit with distribution runway. And the brand has low awareness, low single digit.

So to deliver on the targets we set, we need mid-twenty percent growth and we believe this is very, very doable. And that's without even thinking about any other vectors, whether it be expanding into bars. So the Q2 results were fully in line with our forecast. We're excited about the distribution we have in the bank in spring and the conversations we're having in the fall. But more broadly, we think this brand has a lot of runway and that we're in the early.

Brian Holland, Analyst, D.A. Davidson: Okay, perfect. And I know, I'm sure you want to address looking eighteen months out in this current backdrop is something that I'm sure you'd love to dive into, but I'll take a swing. 70% of your portfolio is growing high teens right now. As we go into next year, my math, which is I grant you dangerous, would suggest 70% of your sales grow double digits or 10% and Atkins declines 5%. That's already puts you at the high end of your algorithm.

So I'm just wondering if that's consistent with kind of how you're thinking about the setup into fiscal 'twenty six. And the reason we're looking ahead is obviously a lot of what's happening with Atkins is proactive, but there's also some proactive stuff, innovation, distribution, etcetera, on these other brands. And we start to put the math together, it seems compelling. So just curious if that's consistent with how you're looking at it or thinking about it internally, or if there's any caveats there that I'm just obviously missing as we look ahead.

Sean Mara, CFO, Simply Good Foods: Shockingly, we don't want to talk about '26. So we're only halfway through '25. We just began planning for '26. We're very early in the process and obviously with Chris joining, he clearly wants to put his stamp on things for next year. At this point in the cycle, I would say our goal is to come up with a plan to grow on algo, so 4% to 6% top and bottom line.

There are a number of negative, potentially negative macro issues that could impact the guidance, including the health of the consumer, headwinds, not only on inflation, but also potentially in tariffs. On the positive side, as you said, we remain confident on Quest and Owen. We expect the benefit of a full year of productivity, as Jeff talked about, from synergies with the Owen integration, both in the tens of millions of dollars. And then obviously, as I mentioned before, Quest growing faster than Atkins has actually a positive margin mix. Net net, very early in the planning cycle, a lot to do between now and October when we report Q4 results.

Jeff Tanner, President and CEO, Simply Good Foods: Yes. The only build I would give on that, and it is early and it is murky as we look forward, with that being said, our category and our company are very well positioned against this broader mainstreaming of consumer demand for high protein, low carb, low sugar products. As we said in the script, the category has had 16 of consecutive high single, low double digit growth. As you mentioned, 70% of our net sales are growing double digits. We have exciting innovation in the market, distribution opportunities in front of us.

Now on the bottom line, there are some headwinds. Whether that be tariffs or cocoa, as I mentioned earlier, we put a much more comprehensive productivity program in place. So in that mix, it is early, but with Sean, we'd like to think we could deliver a plan that was on algo. But as you noted, there are uncertain times.

Brian Holland, Analyst, D.A. Davidson: Appreciate all the color. Thanks. Best of luck.

Conference Operator: Our next questions are from the line of Matt Smith with Stifel. Please proceed with your question.

Matt Smith, Analyst, Stifel: Hi, good morning. Thank you for taking my question.

Sean Mara, CFO, Simply Good Foods: Good morning, Matt. Good morning, Matt.

Matt Smith, Analyst, Stifel: Sean, just following up on your comments regarding the contribution margin differences between the brands. Does the 10 gap between Atkins and Quest, should we think of that as improving as the brand goes through this reset? Or I guess differently, is there an opportunity to narrow that gap over time? Or would you expect Quest margin to outpace any improvement in Atkins given the scale of that business?

Sean Mara, CFO, Simply Good Foods: Yes, I think we'd like to improve the margins on Atkins. As Jeff said, we are investing in the Atkins brand. So I think overall, we don't expect that to drastically improve in the next, I'd say eighteen months or so. And we do have some pressures there, as I mentioned, more on the Atkins side with inflation than we do on the Quest side. So I think over time, we'd like to get that a little bit closer, but in the near term, I don't see that changing drastically from where we are today.

Jeff Tanner, President and CEO, Simply Good Foods: Thank you

Matt Smith, Analyst, Stifel: for that. And as a follow-up, Jeff, you've talked about the low awareness and household penetration for Owen as an opportunity going forward. How do you build the awareness and household penetration at this point? Is it more a story of gaining distribution and space on shelf to communicate with the consumer? Or should we expect you to increase the investment level behind Owen to drive that awareness and household penetration?

Thank you. I'll pass it

Jeff Tanner, President and CEO, Simply Good Foods: Yeah, great question, Matt. I'd say in the near term it will be focused on distribution. And if you think back, that was the Quest playbook. And the ROI on marketing is very much a function of the breadth of your distribution. So we'll initially focus on building out that distribution.

As I said earlier, we only average seven SKUs on shelf. So I would say for the next couple of years, the focus for us will be distribution and innovation. Obviously, brand does some terrific marketing today. It's at lower levels. It's more digital influencer driven.

We'll keep that going. If you think about Quest, really only a year ago, maybe eighteen months, did we start turning on national advertising, which obviously had a big positive for the brand. But you don't really want to do that until you've built a sizable distribution footprint.

Matt Smith, Analyst, Stifel: Thanks, Jeff. I'll leave it there.

Conference Operator: Thank you. The next question is from the line of Rob Moskow with TD Cowen. Please proceed with your question.

Jacob, Analyst, TD Cowen: Hey, good morning. This is Jacob on for Rob Moskow. I just

Sean Mara, CFO, Simply Good Foods: have

Jacob, Analyst, TD Cowen: one

Jacob. Good morning. Just curious on to get more details on the bar category, specifically as it relates to Quest. Our tracking data shows decent trends for the overall category, but Quest continues to underperform. Just curious if you can talk about what you're doing in addition to the overload bar to try to get back to that low single digit growth target that you have for QuestBars.

Jeff Tanner, President and CEO, Simply Good Foods: Yeah. I'm honestly not sure I would characterize QuestBars as underperforming. Certainly we can do a lot better than we have been, but we are very excited about the innovation that we're bringing to market. This is a category that is highly responsive to new news and innovation. And starting really about twelve months ago, we significantly stepped up our innovation efforts on QuestBars.

The overload platform, which we're very excited about, it's early. Consumer reviews, though, have been very, very, very positive. Distribution acceptances have been very positive, but it's early. Innovation like that is what will move the bar business within Quest and that's incumbent upon us, therefore, to never let up on bringing continuous exciting innovation to market. And as I look into the pipeline, I'm very pleased and excited with what we have coming to market.

And I'll say if you look at one of the leading spots in the bar category is the C store channel. It's a place where there's a lot of trials. And where you look more recently on Quest trends, we're very pleased with what we're seeing.

Jacob, Analyst, TD Cowen: Great, thank you. I'll leave it there.

Jeff Tanner, President and CEO, Simply Good Foods: The

Conference Operator: next question is from the line of Jon Andersen with William Blair. Please proceed with your question.

Josh Levine, Vice President of Investor Relations, Simply Good Foods: Good morning, everybody. Thanks for the question.

Sean Mara, CFO, Simply Good Foods: Good morning.

Josh Levine, Vice President of Investor Relations, Simply Good Foods: Good morning. First question is on Quest, second is on Atkins. On Quest, you took your full year outlook up for the brand, at least the point of sale. Wondering there what the story is with respect to your prior expectations and new expectations, if you can talk a little bit about that. Also on Quest, part of that question, have you found over time as you expand the brand into other categories, salty snacks, the Bake Shop line now, that there's kind of a synergistic benefit to the brand as a whole, I.

E, the more penetration you make in Salty Snacks or Bakeshop, it has a halo effect on the bars. I want to kind of understand that dynamic. And then on Atkins, because there's so many moving parts, what should we be looking for over the next twelve to eighteen months from Atkins as signals of kind of your success stabilizing that brand? In other words, another way to ask the question would be, at what point should we maybe expect takeaway to kind of level out? Thank you.

Jeff Tanner, President and CEO, Simply Good Foods: Yeah, great questions. Let me start with what is leading us to take up our expectation on Quest. Salty is the biggest driver here. It's currently 35% of the business, dollars 300,000,000 retail sales, growing well in excess of 30,000,000 If you recall, what happened was as we went into Q4 last year even we were caught a little bit by surprise with the growth on the business and we were supply constrained. We started up a second site, accelerated that.

We're now back in full supply and we're seeing the full it's starting to see the real full potential of this business. And if you take a step back, the addressable market where we're flipping the macros is massive And we are finding that there's a large number of consumers who are putting Quest into the rotation from buying more mainline snacks. We've increased our merchandising and displays. Retailers getting behind it in a big way. We had a very successful test with a large club customer and we're in very exciting conversations about how to roll that out more broadly.

So as you think about what is inflecting QUEST more positively than we originally thought, it's really salty. And if you fast forward a year from now, Salty and Bars will be roughly the same size. And that's a point worth noting because it then bridges to your second question, what's the impact of a platform like Salty back on the business? And what we're finding is that through these platforms like Salty and like Baked, which is also being it's earlier, but it's been very successful, we're bringing in new consumers to the full franchise. And so a lot of consumers coming into bars are coming in via chips.

A lot of consumers coming into chips are coming in via bakes because they understand the brand. So as we broaden the shoulders of the brand, it is generating increased household penetration more holistically. And I'll point out that there are very few brands in my career that I've seen who can do this. Quest almost stands alone in its ability to pull this off, which is why we're very bullish on the continued runway of Quest despite the fact it's doing over $1,000,000,000 in retail sales. Before I answer your Atkins questions, does that hit that Yes,

Josh Levine, Vice President of Investor Relations, Simply Good Foods: that's terrific. That is, yes. And

Jeff Tanner, President and CEO, Simply Good Foods: then to your question on Atkins, great question. What you have to do is when you're at Atkins trends, as we've said, we expect a smaller physical footprint as we mix in more productive and profitable Quest and Owen SKUs. That will have an impact on Atkins consumption. So what we'll be looking at is underlying base velocity of the business. And obviously we'll have to adjust for the impact of losing some shelf space, which we expect.

But that's the metric of this business, a base driven business. So when you ex out some of the merchandising we lost and you have to adjust a little bit for this before we've lost some tail skews, the underlying health of the base business and working to stabilize that is the key metric.

Josh Levine, Vice President of Investor Relations, Simply Good Foods: Yeah. That makes sense. Thanks so much.

Matt Smith, Analyst, Stifel: Thanks, Sean.

Conference Operator: Thank you. Our next question is from the line of Steve Fowers with Deutsche Bank. Please proceed with your questions.

Steve Fowers, Analyst, Deutsche Bank: Good morning and thanks everybody.

Conference Operator: Congrats

Steve Fowers, Analyst, Deutsche Bank: again Sean and welcome Chris. Got a couple of follow-up questions. The first one is probably for you, Sean, on tariffs. And I guess as we think about what you're talking about in terms of ingredient sourcing and your co manufacturing footprint, should we think of those as effectively fixed as you look forward due to contract provisions or ingredient scarcity? Or do you see a potential to alternatively source some ingredients or shift production domestically, just in the event that tariff conditions persist or extends?

Sean Mara, CFO, Simply Good Foods: No, we're looking at a number of potential mitigants as we look into fiscal twenty twenty six and beyond. I think we're working through those. Yes, there are some limitations on how fast you can get there based on contracts that we have, but we've been working honestly on this for a little while, so we have some, as Jeff said, we have some productivity initiatives that are out there that are going to help, should help offset this, so in process.

Steve Fowers, Analyst, Deutsche Bank: Okay, very good, thank you. And then Jeff, you highlighted you had a couple of times this morning the successful club test this quarter for Quest and the prospects for a continued or expanded relationship there. I guess just wanted to, if I could get you to clarify just the degree to which your remainder of your outlook includes continued sales to that customer and then whether some of the discussions you referenced could lead to upside in the near term or whether that's more of a fiscal 'twenty six and beyond consideration?

Jeff Tanner, President and CEO, Simply Good Foods: Yeah. So Steve, the remainder of 'twenty five does not include another rotation at the customer. We've got some business in their business side, but the real volume that we expect to come is going to be at 26.

Sean Mara, CFO, Simply Good Foods: Okay.

Jeff Tanner, President and CEO, Simply Good Foods: That's what I assume, but thank

Matt Smith, Analyst, Stifel: you for Which

Jeff Tanner, President and CEO, Simply Good Foods: we expect to build out over time, region by region, expanding on the tests that we did this year.

Steve Fowers, Analyst, Deutsche Bank: Yep, yep, makes sense. Okay, thank you very much.

Conference Operator: The next question comes from the line of Jim Salera with Stephens. Please proceed with your question.

Josh Levine, Vice President of Investor Relations, Simply Good Foods0: Yes. Hey, John. Good morning. Thanks for the question.

Jeff Tanner, President and CEO, Simply Good Foods: Good morning.

Josh Levine, Vice President of Investor Relations, Simply Good Foods0: Wanted to ask maybe a kind of a total company level. If we net out the Quest and Owen gains with the Atkins losses, where does that shake out as kind of a total SKU level at club? Are we about the same? Is there still a little bit of loss there? Is there actually some upside?

Jeff Tanner, President and CEO, Simply Good Foods: Sorry, you're specifically asking about club?

Josh Levine, Vice President of Investor Relations, Simply Good Foods0: Yes, that's correct.

Conference Operator: Yes.

Jeff Tanner, President and CEO, Simply Good Foods: Probably slightly positive in terms of total space, but certainly the losses we're going to see on Atkins will be offset by gains on Quest and Owen. The timing may not line up exactly because of the different reset timings that the different categories have there. So minimally an offset over time a net positive.

Josh Levine, Vice President of Investor Relations, Simply Good Foods0: Okay, great. And then, Jeff, you had mentioned in I think a year's time, Salty and Bar should be roughly the same at Quest. Can you just talk about the positioning in the store on the Salty request? I mean, are you seeing more retailers either actively placing it with kind of traditional faulty or if not placing it there, open to that, maybe getting some kind of end cap or display around the traditional snacking aisle versus kind of the other section of the store or the rest of your product set?

Jeff Tanner, President and CEO, Simply Good Foods: Yeah. I appreciate the question because what you're poking at is what I think is one of the biggest upside opportunities for Quest and even more broadly, which is increased physical availability of our products. So if you think about where Quest chips started, it started in the nutritional snacking aisle, which on the one hand, we love that aisle. We're category leaders. It's our home base.

But it has a lower household penetration of foot traffic. So one of the things I've challenged our organization with is as this category is mainstreaming, as consumer demand for high protein, low carb, low sugar products is mainstreaming, increasing the physical availability of our products is a huge long term growth vector for us, and particularly products that are more impulse driven like chips. So we have a significant initiative in the organization to do that. So what does that look like? Well, we have a test in place at a large mass customer where we're in the mainline aisle, and we were just expanding a number of doors there.

We have put in place a new retail execution team focused on driving displays out of our aisle, Gaining distribution in additional channels like the club customer we just talked about represents an upside. And we'll probably start looking even further afield where impulse, where you see a lot of impulse snacking. So I would say that while we're very excited about the size of the chips business, and as I mentioned, it will be roughly the same as bars in a year. What I would suggest is as a result of this increased physical availability, the runway on this business is significant and that we are in the early innings of our salty expansion.

John Baumgartner, Analyst, Mizuho Securities: Great. Appreciate the detail. I'll hop back in the queue.

Matt Smith, Analyst, Stifel: Thanks, Jeff.

Conference Operator: Thank you. Our final question is from the line of Sydney Lin with Bernstein. Please proceed with your question.

Josh Levine, Vice President of Investor Relations, Simply Good Foods1: Hi. Good morning. This is Sydney dialing in for Alexia Howard at Bernstein. I just wanted to hey. Good morning.

I just wanted to jump back to the Owen distribution comment earlier. Can you talk a little bit more about the velocities of the product? I'm just trying to get a sense of how much growth is driven from new stores versus recurring customer purchases, especially since you cited low customer awareness as a big growth opportunity.

Jeff Tanner, President and CEO, Simply Good Foods: Yeah. Yeah. No. It's roughly fiftyfifty. So half the growth coming from new doors, new SKUs, and half of it coming from velocity increases, which is unusual to see growth both in distribution and velocity.

What you'll normally see with most brands is you increase distribution, the velocity rates will decline, but that's not happening here.

Josh Levine, Vice President of Investor Relations, Simply Good Foods1: Yeah, exactly. It's impressive. Thanks so much.

Conference Operator: Thank you. There are no further questions at this time. I'd like to turn the floor back to Sean Mara for closing remarks.

Sean Mara, CFO, Simply Good Foods: Yeah, just my last call, I just wanted to thank the Simply team for all the support over the years to me. A big shout out to my team in FP and A, accounting, IT and IR for the great support and help they've given over the years. I'm really proud of what we've built here at Simply. Wish the team continued success in the future.

Jeff Tanner, President and CEO, Simply Good Foods: Thanks, Sean.

Conference Operator: Thank you. This does conclude today's teleconference. We thank you for your participation. You may now disconnect your lines at this time.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2025 - Fusion Media Limited. All Rights Reserved.