Bellring Brands, Inc. · NYSE:BRBR
Bellring Brands — Q1 2024 Earnings Presentation
20 slides from Bellring Brands's earnings presentation, Feb 6, 2024
Slide 1: First Quarter Fiscal Year 2024 Supplemental Presentation
First Quarter Fiscal Year 2024 Supplemental Presentation February 5, 2024 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 • BellRing’s reliance on a limited number of third-party suppliers to provide certain ingredients forward-looking statements within the meaning of the P
Slide 3: Cautionary Statement Regarding Forward-Looking Statements (Cont'd)
Cautionary Statement Regarding Forward-Looking Statements (Cont’d) (CONTINUED FROM PRIOR PAGE): • BellRing’s ability to hire and retain talented personnel, employee absenteeism, labor strikes, work stoppages or unionization efforts; • uncertain or unfavorable economic conditions that limit customer
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: Q1 FY2024 Consumption and Key Metrics Executive Summary
Q1 FY2024 Consumption and Key Metrics Executive Summary ● The convenient nutrition category continued double-digit growth, with liquids driving outsized growth. ● Premier Protein ready-to-drink (“RTD”) shake consumption was up (+29%)1 in Q1 FY2024, with key metrics reaffirming a long runway for sust
Slide 6: Ready-to-Drink Continued Robust Growth; Ready-to-Mix Growth Moderated
Ready-to-Drink Continued Robust Growth; Ready-to-Mix Growth Moderated as a Result of Lapping Price Increases L13 L52 Growth % Dollar Volume Price/Mix Dollar Volume Price/Mix Ready-to-Drink +16% +8% +8% +20% +8% +12% Ready-to-Mix +6% +5% +1% +15% +6% +9% Ready- 16% 21% 18% 22% 23% 20% 23% 21% 19% 20%
Slide 7: Premier Protein RTD Shake Growth Strong Across All Channels
Premier Protein RTD Shake Growth Strong Across All Channels Premier Protein RTD Shakes $ Sales vs. Prior Year Channel 13 Weeks 52 Weeks Club +14.7% +19.6% Mass +54.3% +50.4% eCommerce +62.9% +40.8% Food +34.8% +29.6% Total Consumption (tracked + untracked channels) +29.3% +28.3% Total Tracked +38.4%
Slide 8: Premier Protein RTD Shakes Continued Year-over-Year Growth
Premier Protein RTD Shakes Continued Year-over-Year Growth YOY Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 %Δ -1% -2% -5% +15% +22% +27% +36% +29% Notes: Circana U.S. Multi Outlet + Convenience and management estimates of untracked channels. 8
Slide 9: Q1 FY2024 Shipments Exceeded Consumption as Customers Increased Trade Inventory
Q1 FY2024 Shipments Exceeded Consumption as Customers Increased Trade Inventory During Seasonally Low Consumption Premier Protein RTD Shake Consumption vs. Shipments (13 Week Quarters) Trade Inventory Trade Inventory Consumption Trade Inventory Trade Inventory Consumption Consumption in line Consump
Slide 10: RTD Shakes Gained Distribution in Q1 and Reached All-Time TDP Highs
Premier Protein RTD Shakes Gained Distribution in Q1 and Reached All-Time TDP Highs Notes: Circana U.S. Multi Outlet + Convenience. 10
Slide 11: Household Penetration Growth Drove Brand and Category to All-Time Highs
Premier Protein Household Penetration Growth Drove Both the Brand and Category to All-Time Highs Premier Protein Total Brand and RTD Shake Penetration RTD 40.8 HH Pen RTD 45.2 HH Pen 18.0 16.5 15.9 17.1 RTD 37.4 HH Pen 16.3 16.0 14.2 13.8 13.8 13.3 14.0 11.5 11.1 12.0 10.0 8.0 6.0 4.0 2.0 +23% +24%
Slide 12: RTD Shake Share Accelerated on Distribution and Velocity Gains
Premier Protein RTD Shake Share Accelerated on Distribution and Velocity Gains Trended Premier Protein RTD Shake $ Share % Notes: Circana U.S. Multi Outlet + Convenience. 12
Slide 13: Premier Protein Powders Continued Impressive Growth
Premier Protein Powders Continued Impressive Growth Premier Protein Powders $ Sales vs. Prior Year Channel 13 Weeks 52 Weeks Mass +91.6% +100.8% eCommerce +108.4% +137.8% Food +6.8% +23.8% Total Consumption (tracked + untracked channels) +66.3% +77.4% Total Tracked +52.1% +59.6% Total Untracked +108
Slide 14: Premier Protein Powders Continued Strong Growth Trajectory
Premier Protein Powders Continued Strong Growth Trajectory YOY Q1 Q2 Q3 Q4 Q1 %Δ +59% +122% +86% +55% +66% Notes: Circana U.S. Multi Outlet + Convenience and management estimates of untracked channels. 14
Slide 15: Premier Protein Powders Reached All-Time Distribution Highs
Premier Protein Powders Reached All-Time Distribution Highs Notes: Circana U.S. Multi Outlet + Convenience. 15
Slide 16: Dymatize Powders Showed Solid Growth Despite Category-Wide Softness in Specialty Channel
Dymatize Powders Showed Solid Growth Despite Category-Wide Softness in the Specialty Channel Dymatize Powders $ Sales vs. Prior Year Channel 13 Weeks 52 Weeks eCommerce +13.9% +32.1% Mass +22.4% +47.8% Specialty/All Other -17.6% +0.6% Food +34.6% +59.5% Club +232.3% +51.1% Total Consumption (tracked
Slide 17: Dymatize Powders Continued Year-over-Year Growth
Dymatize Powders Continued Year-over-Year Growth YOY Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 %Δ +42% +18% +35% +30% +38% +39% +38% +16% Notes: Circana U.S. Multi Outlet + Convenience and management estimates of untracked channels. 17
Slide 18: Dymatize Powder TDP Growth Continued vs Prior Year
Dymatize Powder TDP Growth Continued vs Prior Year Notes: Circana U.S. Multi Outlet + Convenience. 18
Slide 19: BellRing's Complementary Powder Portfolio Saw Meaningful Market Share Gains
BellRing’s Complementary Powder Portfolio Saw Meaningful Market Share Gains in the Last Twelve Months Trended Powders $ Share % Notes: Circana U.S. Multi Outlet + Convenience. 19
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