The Simply Good Foods Company (NASDAQ:SMPL) Q2 2020 Earnings Conference Call - Final Transcript

Apr 06, 2020 • 08:30 am ET

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The Simply Good Foods Company (NASDAQ:SMPL) Q2 2020 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Greetings and welcome to The Simply Good Foods Company Fiscal Second Quarter 2020 Conference Call. [Operator Instructions] Please note this conference is being recorded.

I will now turn the conference over to your host today, Mark Pogharian, Vice President of Investor Relations, Treasury and Business Development. Please proceed, sir.

Executive
Mark Pogharian

Thank you. Good morning. I'm pleased to welcome you to The Simply Good Foods Company earnings call for the second quarter ended February 29, 2020. Joe Scalzo, President and Chief Executive Officer; and Todd Cunfer, Chief Financial Officer will provide you with an overview of our results, which will then be followed by a Q&A session. The company issued its earnings release this morning at approximately 7:00 AM Eastern Time. A copy of the release and accompanying presentation are available under the Investors section of the company's website at www.thesimplygoodfoodscompany.com. 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.

COVID-19 have been included as a risk as it's uncertain what the potential impact could be to our business and therefore it could cause our future results to be different than our current expectations. 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 our 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.

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

Executive
Joseph E. Scalzo

Thank you, Mark. Good morning and thank you for joining us. Today, I'll recap Simply Good Foods second quarter highlights and provide you with the details on the performance of our Atkins and Quest brands. Then, Todd will discuss our second quarter financial results in a bit more detail and we'll wrap it up with a discussion of our outlook and then open the call to your questions. Before we get into the details of our Q2 results, I'd like to discuss the impact we're seeing with respect to COVID-19. Overall the first half of fiscal 2020, which ended on February 29th, exceeded our expectations with no material impact from COVID-19. We entered the second half of the fiscal year with positive net sales momentum, solid cost containment and confidence in our ability to execute our plans and to deliver on the outlook we provided on our earnings January 9.

Furthermore, the Quest