SMPL - Simply Good Foods Non-GAAP EPS of $0.42 beats by $0.01 revenue of $300.88M in-line reaffirms FY sales outlook

• Simply Good Foods press release ( NASDAQ: SMPL ): Q1 Non-GAAP EPS of $0.42 beats by $0.01 .
• Revenue of $300.88M (+7.0% Y/Y) in-line.
• Outlook: Net sales to increase slightly greater than the 4-6% long-term algorithm. Included in the sales outlook is a headwind of almost 1 percentage point related to the previously discussed agreement to license the Quest frozen pizza business; Gross margin will decline versus last year, although at a lower rate than fiscal 2022; Full-year fiscal 2023 Adjusted EBITDA ^(4,5) to increase in line with the net sales growth rate; and, Adjusted Diluted EPS ^(3,5) to increase less than the Adjusted EBITDA ^(4,5) growth rate due to the Company’s expectation of higher interest expense from an increase in the variable interest rate related to its term loan debt, partially mitigated by fewer shares outstanding.

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