Simply Good Foods Co shares climbed 7% to $34.72 in midday trading on Tuesday after the nutritional foods and snacking products provider reported fiscal fourth-quarter 2023 adjusted earnings per share (EPS) of $0.45, up from $0.36 a year ago and better than the Zacks consensus estimate of $0.44.
The company's revenue for the period rose 17% year-over-year to $320.42 million, which also edged past expectations.
Its North America sales increased 17% during the quarter, while international sales improved by 11.7%.
The company also saw its full year 2023 cash flow from operations climb 55% to $171.1 million.
Looking ahead, Simply Good Foods said it expects full-year 2024 sales to increase at the high end of its long-term outlook range to $1.29 billion to $1.32 billion, driven by volume, with margin improvements anticipated from lower supply chain costs.
Shares of Simply Good Foods have fallen 7% year to date.
Contact Sean at sean@proactiveinvestors.com