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BellRing Brands’ First-Quarter Sales Exceed Expectations

1 Mins read

BellRing Brands, a protein shake and powder maker based in St. Louis, reported strong fiscal first-quarter sales that surpassed analysts’ estimates. Despite not benefiting from rising prices, the company still saw positive growth.

Financial Performance

In the quarter, BellRing Brands recorded a profit of $43.9 million, or 33 cents per share. This is slightly lower than the $44.2 million, or 33 cents per share, earned during the same period last year. FactSet analysts had forecasted per-share earnings of 37 cents, but adjusted per-share earnings came in at 43 cents, surpassing expectations.

Impressive Revenue Growth

BellRing Brands achieved a remarkable 19% increase in revenue, reaching $430.4 million for the quarter. This exceeded the $410.1 million expected by FactSet analysts.

Brand Performance

The Premier Protein brand experienced a notable 19% growth in sales, driven by a nearly 20% increase in volume. However, this growth was partially counteracted by a decrease in price/mix.

Dymatize, another brand under BellRing Brands, witnessed an impressive sales increase of approximately 21%. This growth was primarily fueled by a 32% surge in volume, despite a 12% decrease in price/mix.

Upgraded Sales Guidance

BellRing Brands has revised its full-year sales guidance, anticipating sales between $1.87 billion and $1.95 billion for fiscal year 2024. This is higher than their previous forecast of $1.83 billion to $1.91 billion. Analysts polled by FactSet are also optimistic, expecting sales of approximately $1.89 billion.

In conclusion, BellRing Brands has delivered strong financial results for the first quarter, outperforming expectations in both earnings and revenue. Their impressive brand performance and upgraded sales guidance suggest a positive outlook for the future.

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