Simply Good Foods Co falls on dour outlook

The Simply Good Foods

05/04/2023 13:01

** Shares of Simply Good Foods Co  SMPL.O  down 4.2% at $36.90 premarket 
    ** Nutrition bars maker expects FY23 gross margin to decline, vs its previous estimate, due
to slightly higher costs within supply chains
    ** Expects FY adj EPS to increase less than the adjusted EBITDA growth rate 
    ** However, expects FY23 net sales to increase slightly over co's long-term algorithm of
4%-6%
    ** Posts adjusted Q2 EPS of 32 cents vs estimates of 29 cents - Refinitiv IBES 
    ** 11 of 14 brokerages rate the stock "buy" or higher, 3 "hold"; their median PT is $43.00
    ** As of last close, SMPL rose 1.74% so far this year

 (Reporting By Akshita Toshniwal)
 ((Akshita.Toshniwal@thomsonreuters.com))