The Simply Good Foods Company (NASDAQ:SMPL) Q4 2020 Earnings Conference Call - Final Transcript

Oct 26, 2020 • 08:30 am ET


The Simply Good Foods Company (NASDAQ:SMPL) Q4 2020 Earnings Conference Call - Final Transcript


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Greetings and welcome to The Simply Good Foods Company Fiscal Fourth Quarter 2020 Conference Call. [Operator Instructions] As a reminder, this conference is being recorded.

It is now my pleasure to introduce your host, Mark Pogharian, Vice President of Investor Relations. Thank you. You may begin.

Mark Pogharian

Thank you, operator. Good morning. I am pleased to welcome you to The Simply Good Foods Company earnings call for the fourth quarter and full-year ended August 29, 2020. 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 7:00 a.m. Eastern Time. 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 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 non-GAAP financial measures to the most comparable measures prepared in accordance with GAAP. Additionally, note that management's reference for legacy Atkins in today's presentation and remarks encompasses The Simply Good Foods business excluding Quest.

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

Joseph E. Scalzo

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

The last eight months have been an extraordinary period and the COVID-19 situation continues to impact shopping behavior and consumer consumption habits. During this time, we've all faced challenges on the home and work fronts. However, I couldn't be more proud of how our team has stayed focused and executed against our plans during these challenging times. Despite the volatility we experienced during fiscal 2020, we executed well against our Company initiatives for the year and those include increasing market share within the total nutritional snacking category and the sub-segments of active nutrition and weight management; diversifying our portfolio with the acquisition of Quest; hitting every milestone on the