The Simply Good Foods Company (NASDAQ:SMPL) Q1 2020 Earnings Conference Call - Final Transcript

Jan 09, 2020 • 08:30 am ET


The Simply Good Foods Company (NASDAQ:SMPL) Q1 2020 Earnings Conference Call - Final Transcript


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Greetings and welcome to the Simply Good Foods Company Fiscal First Quarter 2020 Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] Please note this conference is being recorded.

I will now turn the conference over to your host, Mark Pogharian, Vice President of Investor Relations. Mr. Pogharian, you may begin.

Mark Pogharian

Thank you, Garo. Good morning. I'm pleased to welcome you to Simply Good Foods Company earnings call for the first quarter ended November 30th, 2019. Joe Scalzo, President and Chief Executive Officer; and Todd Cunfer, Chief Financial Officer, will provide you with an overview of results, which will then be followed by a Q&A session.

The company issued its earnings press release this morning at approximately 7 AM Eastern. A copy of the release and accompanying presentation are available under the Investors section of the Company's website at This call is being webcast live on the website and an archive of today's remarks will also be available.

During the course of today's call, management will make forward-looking statements that are subject to various risks and uncertainties that may cause actual results to differ materially. The company undertakes no obligation to update these statements based on subsequent events. A detailed listing of such risks and uncertainties can be found in today's press release and the company's SEC filings.

Note that on today's call, we will refer to certain non-GAAP financial measures that we believe will provide useful information for investors. The presentation of this information is not intended to be considered in isolation or as a substitute for the financial information presented in accordance with GAAP. Please refer to today's press release for a reconciliation of the non-GAAP financial measures to the most comparable measures prepared in accordance with GAAP.

Additionally, note that management's reference to legacy Atkins in today's presentation and remarks encompasses The Simply Good Foods business excluding Quest.

With that, it's now my pleasure to turn the call over to Joe Scalzo, President and Chief Executive Officer.

Joe Scalzo

Thank you, Mark. Good morning and thank you for joining us. Today, I'll recap Simply Good Foods first quarter highlights and provide you with some details on the performance of our Atkins and Quest brands. Then Todd will discuss our first quarter financial results in a bit more detail. And we'll wrap up with a discussion of our updated full-year outlook, and then open the call to your questions.

With the closing of the Quest acquisition on November 7th, we fulfilled a strategic initiative of acquiring a fast growing on-trend business. This provides us with an additional consumer lifestyle brand that transcends forms and positions us to maintain our leadership well within the nutritional snacking category.

We believe investments in our legacy Atkins brand with the combination of Quest unlocks further growth potential for our company. We have built and continue to improve upon a consumer-centric business model focused on profitable long-term growth.

Our business model provides