Shares of The Simply Good Foods Company (SMPL) tanked on Thursday morning after it reported weak results for the second quarter and lowered its guidance.
The stock is currently trading at $11.76, down $2.65 or 18.42%, on the Nasdaq. It opened at $10.47 after closing the previous session at $14.41. The stock has traded between $10.21 and $38.15 over the past 52 weeks.
Simply Good Foods reported a second-quarter net loss of $159.70 million, or $1.73 per share, compared to a profit of $36.75 million, or $0.36 per share, last year, impacted by a $249 million impairment charge.
Revenue declined 9.4% to $326.01 million, while adjusted EBITDA fell 18.4% to $55.51 million.
Going forward, the company expects third-quarter sales to drop 11% to 14% and cut fiscal 2026 outlook, projecting revenue down 7% to 10% and EBITDA down up to 22%.
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