SMPL - Simply Good Foods increases stock buyback authorization

Simply Good Foods (NASDAQ:SMPL) on Wednesday announced the addition of $50M to its existing stock repurchase program. As of Tuesday, ~$76.2M was is available under SMPL's stock repurchase program. SMPL intends to use the proceeds for organic growth and M&A opportunities. As of Q2-end, SMPL had cash and cash equivalents of $51.5M. SMPL expects 2022 cash flow from operations to be the same as 2021. At the end of Q2, the outstanding principal balance of SMPL's term loan debt was $431.5M and the trailing 12-month net debt to adj. EBITDA ratio was 1.6x.

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Simply Good Foods increases stock buyback authorization