Packaged food company Simply Good Foods (NASDAQ: SMPL) will be reporting earnings tomorrow before market open. Here’s what investors should know.
Simply Good Foods missed analysts’ revenue expectations by 1.9% last quarter, reporting revenues of $341.3 million, up 10.6% year on year. It was a mixed quarter for the company, with an impressive beat of analysts’ gross margin estimates.
Is Simply Good Foods a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Simply Good Foods’s revenue to grow 13.4% year on year to $354.2 million, improving from the 5.3% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.40 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Simply Good Foods has missed Wall Street’s revenue estimates five times over the last two years.
Looking at Simply Good Foods’s peers in the shelf-stable food segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Conagra’s revenues decreased 6.3% year on year, missing analysts’ expectations by 2%, and General Mills reported a revenue decline of 5%, falling short of estimates by 2.4%. Conagra traded up 1.3% following the results while General Mills was down 3.6%.
Read our full analysis of Conagra’s results here and General Mills’s results here.
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