Why Is Simply Good Foods (SMPL) Stock Soaring Today
What Happened:
Shares of packaged food company Simply Good Foods (NASDAQ:SMPL) jumped 5.1% in the morning session after the company reported first-quarter results with adjusted EBITDA and EPS exceeding Wall Street's expectations. On the other hand, revenue and operating margin missed by a bit during the quarter. Looking ahead, the company reaffirmed its full year outlook, showing that things are very much on track. Notably, management highlighted the impressive momentum in the Quest segment, revealing that the nutritional snacking business achieved nearly $700 million in revenue in fiscal 2023, doubling its sales since the November 2019 acquisition. In summary, it was a positive quarter marked by reassuring commentary, and setting a promising tone for the start of the new year.
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What is the market telling us:
Simply Good Foods's shares are not very volatile than the market average and over the last year have had only 4 moves greater than 5%. In context of that, today's move is indicating the market considers this news meaningful, although it might not be something that would fundamentally change its perception of the business.
Investors who bought $1,000 worth of Simply Good Foods's shares 5 years ago would now be looking at an investment worth $2,239.
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