易美味- SMPL -2026年第三季度业绩电话会

00:00:01 Greetings and welcome to the simply good foods company third quarter fiscal 2026earnings call. At this time, all participants are in a listen only mode. A question and answersession will follow in the formal presentation. 00:00:15 If anyone should require operator assistance during the conference, please press star zeroon your telephone keypad. 00:00:22 As a reminder,this conference is being recorded.I would now like to turn the call over toyour host,Matt seiler,vice President of investor relations and treasury.Please goahead.Thank you operator.Good morning and welcome to the simply good foods company'sthird quarter fiscal year2026earnings call for the period ended may thirty twenty twentysix.I'm joined this morning by President and CEO Joe s scalzo and Chris ber,chief financialofficer. 00:00:51 A copy of our earnings release and accompanying presentation is available on the investorssection of the company's website at the simply good foods company com. 00:01:00This call is being webcast and an archive of today's remarks will be made available. 00:01:06 During today's call, management will make forward looking statements which are subject tovarious risks and uncertainties that may cause actual results to differ materially. Thecompany 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 inthe company's FCC filings. 00:01:28 On today's call, we will refer to certain non GAAP financial measures that we believeprovide useful information for investors. 00:01:35 Due to the company's asset light business model, we evaluate our performance on anadjusted basis as it relates to ebitda and diluted EPS. Please refer to today's press release for a reconciliation of our non GAAP financial measures to their most comparable measuresprepared in accordance with GAAP. 00:01:52 Finally, all retail takeaway data included in our discussion today, unless otherwise noted,reflects a combination of crccanas, mulo plus plus c, measured retail channel data andcompany estimates for unmeasured channels for the 13 weeks ended may, thirty onetwenty thousand and twenty six as compared to the prior year. I will now turn the call overto Joe s scaldo.Thanks Matt.Good morning everyone, thank you for joining us today. 00:02:21 This morning I'll recap our third quarter results and then provide you with someperspective on the performance of our brands.As well as an update on our progress towardour turnaround objectives. 00:02:32 Then I'll turn the call over to Chris who will discuss our financial results and our updatedoutlook in a bit more detail.Before we open it up to take your questions. 00:02:43 In the third quarter,our results came in ahead of our expectations.While we're not satisfiedwith our overall performance.The quarter reinforced our belief that the actions we aretaking are the right ones. 00:02:58 We are ensuring organizational focus.Improving execution and strengthening the economicfoundation of the business.As we discussed on our last earnings call. 00:03:11 Our overall performance remains well below where we believe this business shouldperform.With each key financial metric declining meaningfully versus the prioryear.Importantly, we remain in the early stages of our turnaround.And has significant workahead. 00:03:33 Net sales declined6.3.%。To357million dollars.Gross margin declined390basis points.To32.5.%。And adjusted ebitda declined22.5%to57.2million dollars. 00:03:56 Quest and Owen net sales grew1.1%and3.6%versus prior year,respectively.And bothbrands performed slightly better than we expected.We continue to see encouragingmomentum.In some parts of the portfolio,particularly quest chips and milkshakes. 00:04:19 Atkins net sales declined 24.6% in the quarter, reflecting continued pressure from declininghousehold penetration as a result of insufficient marketing support behind the brand. 00:04:33Our retail takeaway declined6.7%during the quarter,essentially unchanged from the secondquarter.The purposeful nutrition category grew10%during the same time frame. 00:04:47 As I have spent more time inside the business, it's becoming increasingly clear to me thatour challenges are largely execution driven rather than category driven. 00:04:59 Purposeful nutrition remains an attractive category supported by favorable long termconsumer trends, and retailers continue to view the category as an important source ofgrowth. 00:05:11 Importantly, these execution challenges are within our control to fix and the actions we aretaking are designed to address each of them directly. 00:05:23Against that backdrop, we remain focused on three priorities that will determine thesuccess of our turnaround. 00:05:30 One, strengthening the economics of our business. Two, ensuring consistency and disciplinein strategic choices driving organizational clarity, focus and efficiency. 00:05:44 An