Bellring Brands, Inc. · NYSE:BRBR
Bellring Brands — Q1 2026 Earnings Presentation
21 slides from Bellring Brands's earnings presentation, Feb 3, 2026
Slide 1: First Quarter Fiscal Year 2026 Supplemental Presentation
First Quarter Fiscal Year 2026 Supplemental Presentation February 3, 2026 Investor Presentation November 2022
Slide 2: Cautionary Statement Regarding Forward-Looking Statements
Cautionary Statement Regarding Forward-Looking Statements Certain matters discussed in this presentation and the accompanying oral presentation are • significant volatility in the cost or availability of inputs to BellRing’s business (including freight, forward-looking statements within the meaning
Slide 3: Cautionary Statement Regarding Forward-Looking Statements (Cont'd)
Cautionary Statement Regarding Forward-Looking Statements (Cont’d) (CONTINUED FROM PRIOR PAGE): • significant differences in BellRing’s actual operating results from any guidance BellRing may give regarding its performance; and • risks related to BellRing’s ongoing relationship with Post Holdings, I
Slide 4: Additional Information
Additional Information Market and Industry Data Prospective Information This presentation includes industry and trade association data, forecasts and information Any prospective information provided in this presentation regarding BellRing’s future that were prepared based, in part, upon data, foreca
Slide 5: Category Definition Change
Category Definition Change • Effective with Q1 FY2026, we have expanded and renamed the category from convenient nutrition to wellness • Wellness continues to include the same brands and products as convenient nutrition but has broadened to include additional products that research indicates consume
Slide 6: Q1 FY2026 Consumption and Key Metrics Executive Summary
Q1 FY2026 Consumption and Key Metrics Executive Summary ● The wellness category showed continued growth (+7%)1, with ready-to-drink (“RTD”) growth (+7%)1 in-line with the wellness category while ready-to-mix (“RTM”) growth remained healthy. ● Premier Protein RTD consumption (-2%)2 reflected strong g
Slide 7: Ready-to-Drink and Ready-to-Mix Growth Remained Healthy
Ready-to-Drink and Ready-to-Mix Growth Remained Healthy L13 L52 Growth % Dollar Volume Price/Mix Dollar Volume Price/Mix Ready-to-Drink 7% 8% -1% 13% 11% 2% 20% Ready-to-Mix 6% 5% 1% 11% 10% 1% 18% 16% 14% 12% YOY % Δ 10% 8% 6% 4% 2% 0% 4WE 11-03-24 4WE 12-29-24 4WE 02-23-25 4WE 12-01-24 4WE 01-26-2
Slide 8: Premier Protein RTD Shake Growth in Food, Mass and eCommerce
Premier Protein RTD Shake Growth in Food, Mass and eCommerce Partly Offset Club Headwinds Premier Protein RTD Shakes $ Sales vs. Prior Year Channel 13 Weeks 52 Weeks Club -14.2% +10.2% Mass +7.1% +13.5% Food +16.7% +34.8% eCommerce +20.0% +22.3% Total Consumption (tracked + untracked channels) -2.2%
Slide 9: Q1 FY2026 Consumption Softened on Tough Prior Year Club Comparisons
Q1 FY2026 Consumption Softened on Tough Prior Year Club Comparisons Premier Protein RTD Shakes Rolling 13 week Total $ Consumption Sales $ Volume Jun 1'2025 Jun 30'24 Feb 2'25 Dec 29'24 Jun 29'25 Aug 3'25 Nov 30'25 Dec 28'25 Mar 31'24 Dec 1'24 May 31'24 Jul 28'24 Sep 01'24 Sep 29'24 Nov 3'24 Mar 30'
Slide 10: Shipments Exceeded Consumption in Q1 FY2026 as Retailers Readied for Q2 Promotions
Shipments Exceeded Consumption in Q1 FY2026 as Retailers Readied for Q2 Promotions Trade Inventory Consumption and Trade Inventory Trade Inventory Trade Inventory Increase, Consumption Consumption in line Trade Inventory Shipments Closely Increase, Seasonality Increase, Seasonality Increase New Item
Slide 11: Premier Protein RTD Shake TDPs Reached All Time High
Premier Protein RTD Shake TDPs Reached All Time High 1,800 81 81 80 1,600 1,552 70 1,400 60 1,200 50 1,000 929 % ACV TDPs 40 800 30 600 400 20 200 10 0 0 Total Points of Distribution ACV Weighted Distribution Notes: Circana U.S. Multi Outlet+ with Convenience. 11
Slide 12: Premier Protein Brand Metrics Remained Strong
Premier Protein Brand Metrics Remained Strong Premier Protein Penetration RTD 57.0 HH Pen RTD 52.6 HH Pen 25.0 RTD 48.2 HH Pen 21.7 20.8 20.0 19.0 20.0 16.4 15.9 17.1 16.3 14.4 14.0 15.0 10.0 5.0 -12% -12% +19% +17% +17% +17% +9% +9% 0.0 CY 2021 CY 2022 CY 2023 CY 2024 52WE 12-28-25 HH Pen - Premier
Slide 13: Premier Protein RTD Shakes Maintaining #1 Share Position
Premier Protein RTD Shakes Maintaining #1 Share Position Trended Premier Protein RTD Shake $ Share % Club Promotion Club Promotion Club Promotion Club Promotion 30.0 25.0 22.2 22.0 20.0 15.0 10.0 5.0 0.0 Notes: Circana U.S. Multi Outlet+ with Convenience. 13
Slide 14: Premier Protein Powder Continued to Benefit from Channel Expansion
Premier Protein Powder Continued to Benefit from Channel Expansion Despite Headwinds from Non-Core Discontinuances Premier Protein Powders $ Sales vs. Prior Year Channel 13 Weeks 52 Weeks Mass -6.6% -0.2% eCommerce -0.6% +5.6% Food -14.2% +3.9% Club +100.0% +100.0% Total Consumption (tracked channel
Slide 15: Premier Protein Powder Consumption Grew in Q1 FY2026
Premier Protein Powder Consumption Grew in Q1 FY2026 Premier Protein Ready-to-Mix Powders Rolling 13 week Total $ Consumption Sales $ Volume Jun 1'2025 Apr 28'24 Jun 30'24 Feb 2'25 Dec 29'24 Jun 29'25 Aug 3'25 Dec 28'25 Jul 28'24 Dec 1'24 Jan 28'24 Mar 3'24 Mar 31'24 May 31'24 Sep 01'24 Sep 29'24 No
Slide 16: Premier Protein Powder Distribution Steady
Premier Protein Powder Distribution Steady 250 61 60 53 200 50 177 160 150 40 % ACV TDPs 30 100 20 50 10 0 0 Total Points of Distribution ACV Weighted Distribution Notes: Circana U.S. Multi Outlet+ with Convenience. 16
Slide 17: Dymatize Consumption Driven by eCommerce and Club Growth
Dymatize Consumption Driven by eCommerce and Club Growth Dymatize $ Sales vs. Prior Year Channel 13 Weeks 52 Weeks eCommerce +9.9% +10.8% Mass +2.8% +0.2% Specialty/All Other -1.0% -6.1% Food +8.9% +2.6% Club +34.5% -24.6% Total Consumption (tracked + untracked channels) +7.5% +3.2% • Tracked and un
Slide 18: Total Dymatize Consumption Grew in Q1 FY2026
Total Dymatize Consumption Grew in Q1 FY2026 Dymatize Rolling 13 week Total $ Consumption Sales $ Volume Jun 30'24 Feb 2'25 Dec 29'24 Jun 29'25 Aug 3'25 Dec 28'25 Mar 31'24 Dec 1'24 Mar 2'25 Jun 1'25 May 31'24 Jul 28'24 Sep 01'24 Sep 29'24 Nov 3'24 Mar 30'25 Sep 28'25 Nov 30'25 Nov 2'25 Jan 28'24 Ma
Slide 19: Dymatize Growing Distribution Year-Over-Year
Dymatize Growing Distribution Year-Over-Year 400 60 53 54 350 50 300 282 271 40 250 % ACV TDPs 200 30 150 20 100 10 50 0 0 Total Points of Distribution ACV Weighted Distribution Notes: Circana U.S. Multi Outlet+ with Convenience. 19
Slide 20: BellRing's Complementary Powder Portfolio Remains a Strong and Meaningful Protein Category Player
Notes: 1% 3% 5% 6% 7% % 5.0 2% 1.6 4% 3.3 4WE 12-31-23 4WE 01-28-24 4WE 02-25-24 Circana U.S. Multi Outlet+ with Convenience. 4WE 03-24-24 4WE 04-21-24 4WE 05-19-24 4WE 06-16-24 4WE 07-14-24 4WE 08-11-24 Promotion eCommerce 4WE 09-08-24 Total BellRing Powders 4WE 10-06-24 4WE 11-03-24 Promotion eCom
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