Simply Good Foods hits three-month high post Q4 results beat

The Simply Good Foods

21/10/2022 15:37

** Shares of nutrition bars maker Simply Good Foods Co
 SMPL.O  up 7% at $34.79, highest since July 22
    ** SMPL reports Q4 profit of 30 cents/shr and revenue of
$274.2 mln, beating Refinitiv estimates of 28 cents/shr and
$262.5 mln, respectively  urn:newsml:reuters.com:*:nGNX6VL5yc
    ** Co attributes Q4 performance to North America net sales,
which increased by 6.4% due to better-than-expected retail
takeaway
    ** SMPL sees FY 2023 net sales increase slightly above its
long-term algorithm of 4%-6%; Street estimate is for $1.23 bln
    ** Twelve of 14 brokerages rate the stock "buy" or higher,
two "hold"; their median PT is $40 - Refinitiv
    ** Up to Thursday's close, stock had fallen 22.11% compared
with a 13.47% decline in the S&P 600 Consumer Staples sector
index  .SPSMCS 
 (Reporting by Johann M Cherian in Bengaluru)
 ((johann.mcherian@thomsonreuters.com;))