Simply Good Foods Reports Positive Q3 Earnings

Simply Good Foods SMPL reported third-quarter earnings of 16 cents per share, which beat the analyst consensus estimate of 14 cents. This is a 60% increase over earnings of 1 cent per share from the same period last year.

The company reported quarterly sales of $139.5 million, which beat the analyst consensus estimate of $120.93 million. This is a 30.09% increase over sales of $107.233 million the same period last year.

"We delivered double-digit sales growth in both the third quarter and year-to-date periods driven by our successful marketing strategy that positions Atkins as the brand of choice for consumers seeking nutritious and delicious snacking and meal replacement products for low carb lifestyles. U.S. retail takeaway, as measured by IRI for the thirteen week period ended May 25, 2019, continued to be strong and was up 19.5% versus the prior year,” said Joseph Scalzo, CEO of Simply Good Foods.

Simply Good Foods shares traded higher by 4.5% at $26 in Tuesday's pre-market session, which would be a new 5-week high.

Related Links:

Ceragon Reports Q2 Revenue Impacted By Delayed Orders From India

Greenbrier Reports Q3 Earnings Miss