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Mar 31, 2023
BellRing Q2 2023 Earnings Report
BellRing reported a strong second quarter performance, exceeding expectations with robust consumption growth in Premier Protein and Dymatize, and raised its fiscal year 2023 outlook.
Key Takeaways
BellRing Brands reported a strong second quarter with net sales of $385.6 million, a 22.3% increase year-over-year. Operating profit reached $58.0 million, and net earnings available to common stockholders were $30.9 million. The company raised its fiscal year 2023 net sales guidance to $1.61-$1.66 billion and Adjusted EBITDA guidance to $320-$335 million.
Net sales increased by 22.3% to $385.6 million, driven by price/mix and volume improvements.
Operating profit grew by 74.7% to $58.0 million.
Premier Protein and Dymatize experienced robust consumption growth and gained market share.
Fiscal year 2023 net sales guidance raised to $1.61-$1.66 billion and Adjusted EBITDA guidance to $320-$335 million.
Forward Guidance
BellRing management has raised its guidance range for net sales to $1.61-$1.66 billion from $1.56-$1.64 billion and Adjusted EBITDA to $320-$335 million from $306-$325 million (resulting in net sales and Adjusted EBITDA growth of 17%-21% and 18%-23%, respectively, over fiscal year 2022). BellRing management now expects fiscal year 2023 capital expenditures of approximately $6 million.
Positive Outlook
- Net sales guidance raised to $1.61-$1.66 billion.
- Adjusted EBITDA guidance raised to $320-$335 million.
- Net sales growth of 17%-21% over fiscal year 2022 expected.
- Adjusted EBITDA growth of 18%-23% over fiscal year 2022 expected.
- Fiscal year 2023 capital expenditures expected to be approximately $6 million.
Historical Earnings Impact
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