By Denny Jacob
Simply Good Foods recorded higher sales in its latest quarter as contributions from a recent acquisition accelerated top-line growth.
The Denver-based food company logged net income of $38.1 million, or 38 cents a share, for the first quarter ended Nov. 30, up from $35.6 million, or 35 cents a share, a year earlier.
Stripping out one-time items, earnings came in at 49 cents a share. Analysts polled by FactSet expected 47 cents a share.
Sales rose to $341.3 million from $308.7 million. Analysts polled by FactSet expected $347.3 million.
Simply Good said sales growth was primarily driven by Only What You Need, a plant-based ready-to-drink protein shake brand, which it acquired and closed on in June.
"We continue to see increased relevance and 'mainstreaming' of nutritional snacking products as consumers seek high protein, low-sugar, low-carb foods," said Chief Executive Geoff Tanner.
Simply Good maintained its outlook for fiscal 2025.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
January 08, 2025 07:18 ET (12:18 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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