Simply Goods Foods Q2 Profit Climbs

(RTTNews) - Simply Good Foods Co. (SMPL) Wednesday announced an increase in second-quarter net profit driven by a 1.5 percent increase in net sales.

The nutritional foods and snacking products company reported net income of $19.36 million from $10.66 million in the prior year. On a per-share basis, earnings were $0.19, up from $0.11 in the previous year. Adjusted earnings were $0.25 per share.

On average, 13 analysts polled by Thomson Reuters expected the company to report $0.22 per share. Analysts estimates typically exclude special items.

Net sales for the quarter climbed to $230.61 million from $227.10 million a year ago.

Looking ahead to the full year, the Company expects 2021 net sales in a range of $930 to 940 million and an Adjusted EBITDA of $180-185 million.

Adjusted earnings is expected in the range of $1.07 to $1.11 versus $0.91 in 2020