Q3 2024 Bellring Brands Inc Earnings Call Transcript
Key Points
- Net sales grew 16% over the prior year, with adjusted EBITDA up 38%.
- Premier Protein saw a 20% increase in net sales and hit an all-time high in household penetration.
- The company secured incremental production capacity, setting up for a strong fiscal 2025.
- BellRing Brands Inc (BRBR) raised its fiscal 2024 guidance, expecting net sales to grow 18% to 20% and adjusted EBITDA to grow 27% to 30%.
- Premier Protein Powder continued its strong trajectory, growing 44% in Q3.
- Dymatize's US consumption was challenged due to tough comparables, competitive pressures, and softness in the specialty channel.
- Temporary changes in assortment and flavor-specific out-of-stocks led to flat dollar consumption growth in the Club channel.
- The company expects continued inflation in fiscal 2025, particularly impacting the Powder business.
- There was a 400 basis point headwind to consumption growth in Q3 due to delayed shipments.
- Promotional intensity has increased in the RTD shake category, particularly from smaller competitors.
Hello, thank you for standing by. Welcome to BellRing Brands' third quarter fiscal year 2024 earnings conference call. (Operator Instructions)
I would now like to turn the call over to Jennifer Meyer of Investor Relations for BellRing Brands. You may begin.
Good morning, and thank you for joining us today for BellRing Brands' third quarter fiscal 2024 earnings call. With me today are Darcy Davenport, our President and CEO; and Paul Rode, our CFO. Darcy and Paul will begin with prepared remarks, and afterwards, we'll have a brief question-and-answer session.
The press release and supplemental slide presentation that support these remarks are posted on our website in both the Investor Relations and the SEC filings section at bellring.com. In addition, the release and slides are available on the SEC's website.
Before we continue, I would like to remind you that this call will contain forward-looking statements, which are subject to risks and uncertainties that should be carefully
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