Simply Good Foods Q3 Profit Declines, But Beats Street ; Backs Annual Guidance

(RTTNews) - The Simply Good Foods Company (SMPL) Thursday reported a profit of $35.43 million or $0.35 per share for the third quarter, lower than $38.83 million or $0.38 per share in the same quarter a year ago, hurt by higher expenses.

Excluding one-time items, earnings were $0.44 per share, that beat the average estimate of analysts polled by Thomson-Reuters of $0.41 per share. Analysts' estimates typically exclude special items.

Net sales for the quarter increased to $324.79 million from $316.53 million a year ago. The consensus estimate was for $321.38 million.

Looking forward, Simply Good Foods has reaffirmed its full-year outlook. The company said net sales are expected to increase slightly greater than its 4%-6% long-term algorithm.