Bellring Brands, Inc. · NYSE:BRBR
Bellring Brands — Q1 2023 Earnings Presentation
17 slides from Bellring Brands's earnings presentation, Feb 7, 2023
Slide 1: First Quarter Fiscal Year 2023 Supplemental Presentation
First Quarter Fiscal Year 2023 Supplemental Presentation Feb 6, 2023 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 • the ability of BellRing’s third party contract manufacturers to produce an amount of BellRing’s 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): • impairment in the carrying value of goodwill or other intangibles; • BellRing’s high leverage, its ability to obtain additional financing (including both secured and • BellRing’s ability to identify, co
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 FY2023 Consumption and Key Metrics Executive Summary
Q1 FY2023 Consumption and Key Metrics Executive Summary ● Premier Protein ready-to-drink (“RTD”) shake consumption was up +15%1 in Q1 FY2023. ○ Shipments outpaced consumption in Q1 as we continued to rebuild trade inventory levels. ● Premier Protein’s key metrics remain strong and reaffirm a long ru
Slide 6: Data Source Changes
Data Source Changes • Effective with Q1 FY2023, we have changed two of our data sources: • IRI Multi Outlet + Convenience (“IRI MULO+C”) is the source for consumption in tracked channels (previous source was Nielsen Expanded All Outlets + Convenience (“Nielsen xAOC+C) • IRI provides more coverage of
Slide 7: Liquids Category Continues to Outpace Historical Growth Rates
Liquids Category Continues to Outpace Historical Growth Rates YOY % Δ 25% Liquids Category Growth Rate 20% L13 +17% L52 +12% 15% 10% Historical growth 5% 5% 0% 4 W/E 4 W/E 4 W/E 4 W/E 4 W/E 4 W/E 4 W/E 4 W/E 4 W/E 4 W/E 4 W/E 4 W/E 4 W/E 4 W/E 4 W/E 4 W/E 11-07-21 12-05-21 01-02-22 01-30-22 02-27-22
Slide 8: Premier Protein RTD Shake Growth Accelerating Through Pricing and Underlying Strength
Premier Protein RTD Shake Growth Accelerating Through Pricing and Underlying Strength Partially Offset by eCommerce Network Constraints Premier Protein RTD Shakes $ Sales vs. Prior Year Channel 13 Weeks 52 Weeks Club +13.8% +0.3% Mass +33.3% +8.8% Food +29.0% +1.0% eCommerce -9.5% -8.3% Total Consum
Slide 9: Premier Protein RTD Shake Consumption Growing vs. Year Ago, with Expected Seasonality in Q1
Premier Protein RTD Shake Consumption Growing vs. Year Ago, with Expected Seasonality in Q1 YOY Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 %Δ +24% +50% +34% +12% -1% -2% -5% +15% Notes: IRI Multi Outlet + Convenience and management estimates of untracked channels. 9
Slide 10: Q1 Shipments Exceeded Consumption as Customers Continue to Build Inventory
Q1 Shipments Exceeded Consumption as Customers Continue to Build Inventory to Target Levels Premier Protein RTD Shakes Consumption vs. Shipments (13 Week Quarters) Promotional Trade Inventory Trade Inventory Shipments tracking Consumption Consumption Trade Inventory Trade Inventory Increase, Seasona
Slide 11: Premier Protein RTD Shake TDPs Remain Stable
Premier Protein RTD Shake TDPs Remain Stable % ACV TDPs Notes: IRI Multi Outlet + Convenience. 11
Slide 12: Household Penetration Softened as Deal-Seeking Buyers Temporarily Exited
Household Penetration Softened as Deal-Seeking Buyers Temporarily Exited Due to Lack of Promotions Liquids 44.2 HH Pen Liquids 42.7 HH Pen Liquids 38.7 HH Pen +11% +13% +13% +17% +22% +22% +18% +22% +17% +18% +14% +15% -18% -18% 30g Shake 53% 53% 52% +22% 53% 50% Repeat Rate 30g Shake $76 $75 $74 $8
Slide 13: Premier Protein RTD Shakes Continue to Maintain ~18% Share
Premier Protein RTD Shakes Continue to Maintain ~18% Share Despite Intentional Pullback in Promotions, Marketing and Assortment Monthly Premier Protein RTD Shakes $ Share% 24% 22% 19.7% 20% 17.7% 18% 16% 14% 12% 10% Notes: IRI Multi Outlet + Convenience. 13
Slide 14: Dymatize Achieving Strong Growth Despite Temporary Club Discontinuation
Dymatize Achieving Strong Growth Despite Temporary Club Discontinuation U.S. Dymatize Powders $ Sales vs. Prior Year Channel 13 Weeks 52 Weeks eCommerce +32.4% +30.2% Specialty/All Other +20.0% +22.9% Mass +99.9% +75.8% Club -82.2% -45.3% Food +114.9% +87.4% Total Consumption (tracked + untracked ch
Slide 15: U.S. Dymatize Powders Continue Strong Track Record of Growth
U.S. Dymatize Powders Continue Strong Track Record of Growth YOY Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 %Δ +71% +105% +51% +49% +42% +18% +35% +30% Notes: IRI Multi Outlet + Convenience and management estimates of untracked channels. 15
Slide 16: U.S. Dymatize Powders Distribution Levels Reach All Time High
U.S. Dymatize Powders Distribution Levels Reach All Time High % ACV TDPs Notes: IRI Multi Outlet + Convenience. 16
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