Stock Alert: Simply Good Foods Stock Up On Upbeat Q3 Results

(RTTNews) - Shares of The Simply Good Foods Co. (SMPL) are currently trading at $21.94, up $0.75 or 3.54%, driven by the company's better-than-expected Q3 results, and upbeat FY20 earnings outlook. The stock has been trading in the range of $14.08 - $31.34 for the past one year.

The company reported Q3 net income of $16.4 million or $0.17 per share compared to $13.5 million or $0.16 per share last year. On an adjusted basis, earnings rose to $0.26 per share from the previous year's earnings of $0.20 per share.

Net sales for the quarter increased to $215.1 million from $139.5 million generated in the same period of last year.

Analysts polled by Thomson Reuters expected earnings of $0.15 per share on revenue of $208.08 million for the quarter. Analysts' estimate typically exclude certain special items.

Looking ahead, the company expects fiscal 2020 adjusted earnings in the range of $0.86 - $0.90 versus $0.77 in 2019. Nine Wall Street analysts have a consensus earnings estimate of $0.75 per share for the year 2020.