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Friday's Featured Content
Why Simply Good Foods Stock Just Had Its Worst Day in YearsReported by Chris Markoch. Originally Published: 4/10/2026. 
Key Points
- Shares of Simply Good Foods stock plunged over 18% after the company missed revenue estimates and cut full-year guidance.
- Quest faces rising competition, while Atkins struggles against GLP-1 weight loss drugs.
- SMPL may look cheap at 6.5X foward earnings, but ongoing headwinds suggest caution for long-term investors.
- Special Report: Sell 99% of Your Stocks, Do THIS Instead…
Simply Good Foods Co. (NASDAQ: SMPL) faces a complex problem. The company is under pressure across both its Quest and Atkins brands, but the issues differ and require different responses. Investors should know this may take more than a quarter to turn around, so SMPL may be a stock to avoid for now. The headline numbers from its Q2 2026 earnings report were mixed. On the bottom line, adjusted earnings per share (EPS) of $0.45 beat expectations of $0.40. But it was the current and forecasted revenue figures that sent the stock sharply lower. Simply Good Foods posted revenue of $326.01 million, more than 5% below analysts’ forecasts of $343.87 million.
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That was also down 9.45% year over year (YOY). Adding to the disappointment, the company lowered its full-year revenue guidance. It now expects revenue to decline between 7% and 10%. Previously, management guided a range of –2% to 2%. Investors were quick to deliver a verdict. SMPL dropped more than 18% on volume that was over six times the average, pulling the stock to levels last seen in 2017. At such a deep discount, is the consumer staples stock a value play or a falling knife? It’s complicated, but it largely reflects a company that has become the victim of its own success. Quest Brand Growth Slows as Competition Heats UpSimply Good Foods was a pioneer in the high-protein snack space with its Quest brand. Overall retail takeaway for Quest grew 2.4% in the quarter, but that was 12% lower YOY. That split matters because Quest breaks into two categories: chips and bars. The chips category grew by 14%, while bar consumption fell by 5%. The larger issue is competition in the bar segment and growing pressure in chips. On the conference call, analysts asked about the threat from PepsiCo (NASDAQ: PEP) and its Doritos Protein Chips. Management acknowledged the threat is real and said it plans to dedicate a significant portion of capital expenditures to expanding capacity in the chips area. Atkins Struggles in the Age of GLP-1 Weight Loss DrugsThe challenge is different for the company’s Atkins brand. Atkins, the company's meal-replacement line, was a go-to solution before the launch of GLP-1 weight-loss drugs. Many companies face similar headwinds, but Simply Good Foods is being affected as customers now have a pharmaceutical alternative to the Atkins lifestyle. For its part, Simply Good Foods is trying to reposition Atkins as a complement to GLP-1 products. However, this is a marketing challenge that may take many quarters to resolve, if it can be resolved at all. Illustrating the difficulty, the company lost distribution at key retailers after it reduced unprofitable promotional spending — it cut promotions because the incremental revenue from those promotions did not justify the hit to profits. Rising Costs and Macro Pressures Add to Margin ConcernsIdentifying the threats to Quest and Atkins doesn’t make them easy to solve, especially with macroeconomic pressures at play. Tariffs and rising cocoa prices have increased production costs, directly eroding margins. The core issue is a company that helped invent a category that, on one side, is becoming crowded and, on the other, is losing relevance. That’s a difficult problem for investors to weigh. It's likely to weigh on analyst sentiment as well. As of the market close on April 9, SMPL still had a consensus price target of $28.33, representing roughly a 140% upside. But that figure is misleading because it reflects analyst ratings over the prior 12 months; the most recent update came from UBS Group on April 2, when the firm reiterated a Neutral rating and cut its price target to $16 from $23. That leaves far less upside for investors, and more analysts are likely to lower their targets in the coming days and weeks. Analyst Price Targets Likely Headed LowerIf investors focus only on the relative strength index (RSI) for SMPL, they might conclude the sell-off is overdone. The intraday action showed buyers stepping in near the close, which could interest short-term traders after a drop of over 18%.  However, the picture is different for buy-and-hold investors. Until Simply Good Foods can demonstrate that it can reverse the slide in Atkins revenue and prevent Quest from ceding share to competitors, SMPL looks more like a trade than a long-term investment.
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