Simply Good Foods Q4 Earnings: Shares Gain On 17% Sales Growth, Margin Expansion And More
Portfolio Pulse from Nabaparna Bhattacharya
Simply Good Foods Co.'s Q4 FY23 sales increased by 16.9% YoY to $320.418 million, slightly missing the consensus of $320.77 million. Adjusted EPS was $0.45, in line with consensus. Gross profit increased by $18.6 million from the year-ago period, with gross margin expanding from 37.1% to 37.6% due to lower ingredient and packaging costs. The company expects FY24 net sales to increase at the high end of its long-term algorithm of 4%-6%. SMPL shares are trading higher by 5.56% to $34.40.
October 24, 2023 | 4:02 pm
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Simply Good Foods reported a 16.9% YoY increase in Q4 FY23 sales and an expansion in gross margin. The company's FY24 net sales are expected to increase at the high end of its long-term algorithm of 4%-6%. SMPL shares are trading higher by 5.56%.
The company's Q4 sales growth and gross margin expansion, along with the positive outlook for FY24, are likely to have a positive impact on the stock in the short term. The stock is already trading higher, reflecting the market's positive reaction to the earnings report.
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