SMPL earnings analysis
What we found in SMPL's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Simply Good Foods reported a challenging Q3 fiscal 2026, with a 6.3% decrease in revenue to $357 million from $381 million in Q3 fiscal 2025, and a significant net loss of $51.97 million compared to a profit of $41.1 million in the prior year. Gross margins fell 390 basis points to 32.5% driven by higher input costs, and an impairment charge totaled $82 million, exacerbating overall losses for the period.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Decline
- Net sales dropped to $357 million in Q3 2026 from $381 million in Q3 2025, a decrease of 6.3%.
- Significant Net Loss
- The company posted a net loss of $51.97 million, a dramatic downturn from a net income of $41.1 million in Q3 2025.
- Impairment Losses
- An impairment charge of $82 million was recorded this quarter due to goodwill and intangible asset assessments.
- Operating Expenses Surge
- Total operating expenses rose to $165.96 million, up 109.6% from $79.20 million a year earlier, largely due to restructuring and impairment costs.
- Adjusted EBITDA Impact
- Adjusted EBITDA decreased to $57.24 million, down 22.5% compared to $73.85 million in Q3 2025.
- Cash Position Maintained
- The company ended the quarter with $123.9 million in cash, sufficient to cover its operational needs.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Increased Operating Expenses
- Operating expenses hit $165.96 million, largely driven by higher restructuring and impairment costs which could pressure future profitability.
- Weak Segment Performance
- Distribution-related declines especially in the Atkins segment led to decreased revenues, raising concerns over brand performance.
- Supply Chain and Inflation Pressures
- Ongoing global inflation and supply chain challenges threaten to further squeeze margins and sales performance.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $-1.73
- Gross margin
- 32.5%
- Operating margin
- -14.0%
What they said about what is next.
FY2026 net sales guidance adjusted to a decline of 6%-7% year-over-year, reflecting ongoing brand challenges.
The filing reads worse than the one before it.
What came before.
- 10-Q · April 9, 2026
- Simply Good Foods reported a revenue decline to $326.0M for the quarter (thirteen weeks ended February 28, 2026) and a large non-cash impairment that pushed the company to a GAAP operating loss of $213.3M and a diluted…
- 10-K · October 28, 2025
- Simply Good Foods reported fiscal 2025 net sales of $1,450,920,000 (up $119.6M or 9.0% vs prior year) driven by Quest and OWYN volume growth, but gross margin compressed to 36.2% (down 220 bps) and the company recorded…
- 10-Q · June 27, 2024
- Simply Good Foods reported quarterly net sales of $334,757,000, up $9,965,000 (3.1%) versus $324,792,000 a year ago, with gross profit increasing to $133,626,000 and diluted EPS rising to $0.41 from $0.35. Gross margin…
- 10-Q · April 4, 2024
- The Simply Good Foods Company reported Q2 results showing a modest revenue of $312.2 million, a 5.3% increase year-over-year, but slightly missing consensus estimates. Gross margin improved slightly to 37.4%, although…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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