Bellring Brands, Inc. · NYSE:BRBR
Bellring Brands — Q3 FY2025 Earnings Presentation
20 slides from Bellring Brands's earnings presentation, Aug 4, 2025
Slide 1: Third Quarter Fiscal Year 2025 Supplemental Presentation
Investor Presentation November 2022 August 4, 2025 Third Quarter Fiscal Year 2025 Supplemental Presentation
Slide 2: Cautionary Statement Regarding Forward-Looking Statements
2 Certain matters discussed in this presentation and the accompanying oral presentation are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are made based on known events and circumstances at the time of presenta
Slide 3: Cautionary Statement Regarding Forward-Looking Statements (Cont'd)
Cautionary Statement Regarding Forward-Looking Statements (Cont’d) 3 (CONTINUED FROM PRIOR PAGE): • risks related to BellRing’s ongoing relationship with Post Holdings, Inc. (“Post”) following BellRing’s separation from Post and Post’s distribution of BellRing stock to Post’s shareholders (the “Spin
Slide 4: Additional Information
Additional Information 4 Prospective Information Any prospective information provided in this presentation regarding BellRing’s future performance, including BellRing’s plans, expectations, estimates and similar statements, represents BellRing management’s estimates as of August 4, 2025 only and are
Slide 5: Q3 FY2025 Consumption and Key Metrics Executive Summary
5 Q3 FY2025 Consumption and Key Metrics Executive Summary ● The convenient nutrition category showed continued momentum (+11%)1, with the ready-to-drink (“RTD”) category driving outsized growth (+16%); ready-to-mix (“RTM”) growth remained healthy. ● Premier Protein RTD shake brand metrics and consum
Slide 6: Ready-to-Drink Led Category Growth; Ready-to-Mix Growth Remained Healthy
6 Ready-to-Drink Led Category Growth; Ready-to-Mix Growth Remained Healthy Notes: Circana U.S. Multi Outlet+ with Convenience. Ready- to-Drink 13% 15% 16% 13% 17% 23% 23% 21% 20% 13% 21% 19% 20% 15% 18% 16% Ready- to-Mix 8% 6% 11% 11% 7% 6% 6% 15% 13% 1% 10% 9% 18% 9% 9% 5% 0% 5% 10% 15% 20% 25% 4 W
Slide 7: Shakes Drove Strong Consumption Across All Channels
7 Premier Protein RTD Shakes $ Sales vs. Prior Year Channel 13 Weeks 52 Weeks Club +12.2% +13.9% Mass +16.7% +22.4% Food +44.4% +44.6% eCommerce +20.7% +32.1% Total Consumption (tracked + untracked channels) +18.6% +20.9% Notes: Total consumption includes tracked channels consumption (Circana U.S. M
Slide 8: Consumption Continued to Deliver Strong Quarterly Growth
Ju l 3 0' 23 Au g 27 '2 3 O ct 1 '2 3 O ct 2 9' 23 N ov 2 6' 23 D ec 3 1' 23 Ja n 28 '2 4 M ar 3 '2 4 M ar 3 1' 24 Ap r 2 8' 24 M ay 3 1' 24 Ju n 30 '2 4 Ju l 2 8' 24 Se p 01 '2 4 Se p 29 '2 4 N ov 3 '2 4 D ec 1 '2 4 D ec 2 9' 24 Fe b 2' 25 M ar 2 '2 5 M ar 3 0' 25 Ap r 2 7' 25 Ju n 1' 20 25 Ju n 29
Slide 9: Q3 FY2025 Consumption in Line with Shipments
9 Q3 FY2025 Consumption in Line with Shipments Premier Protein RTD Shake Consumption vs. Shipments (13 Week Quarters) Notes: Circana U.S. Multi Outlet+ with Convenience and management estimates of untracked channels. Consumption and Shipments Closely Align Trade Inventory Increase Trade Inventory In
Slide 10: Shake TDPs Grew Behind Innovation
10 Premier Protein RTD Shake TDPs Grew Behind Innovation Notes: Circana U.S. Multi Outlet+ with Convenience. 745 1,273 79 78 0 10 20 30 40 50 60 70 80 0 200 400 600 800 1,000 1,200 1,400 % A C V TD P s Total Points of Distribution ACV Weighted Distribution
Slide 11: RTD Category Has Strong Growth – Premier is the Leader in Household Penetration and Loyalty
16.5 14.4 17.1 20.0 21.6 15.9 14.0 16.3 19.0 20.5 0.0 5.0 10.0 15.0 20.0 25.0 CY 2021 CY 2022 CY 2023 CY 2024 52WE 6-29-25 Premier Protein Penetration HH Pen - Premier Protein Brand HH Pen - Premier Protein RTD Shakes RTD Category Has Strong Growth – Premier is the Leader in Household Penetration an
Slide 12: Shake Share Remained Strong and Category-Leading
Club Promotion Club Promotion 24.4 24.8 0 5 10 15 20 25 30 4 W E 0 7 -3 0 -2 3 4 W E 0 8 -2 7 -2 3 4 W E 0 9 -2 4 -2 3 4 W E 1 0 -2 2 -2 3 4 W E 1 1 -1 9 -2 3 4 W E 1 2 -1 7 -2 3 4 W E 0 1 -1 4 -2 4 4 W E 0 2 -1 1 -2 4 4 W E 0 3 -1 0 -2 4 4 W E 0 4 -0 7 -2 4 4 W E 0 5 -0 5 -2 4 4 W E 0 6 -0 2 -2 4 4
Slide 13: Premier Protein Powder Continued Momentum Behind New Channel Expansion and Velocity Strength
13 Premier Protein Powders $ Sales vs. Prior Year Channel 13 Weeks 52 Weeks Mass +8.2% +19.1% eCommerce +7.3% +19.2% Food +14.4% +18.2% Club +100.0% +100.0% Total Consumption (tracked channels) +27.2% +28.5% Notes: Total consumption includes tracked channels consumption (Circana U.S. Multi Outlet+ w
Slide 14: Premier Protein Powders Continued Strong Growth Trajectory
Premier Protein Powders Continued Strong Growth Trajectory 14Notes: Circana U.S. Multi Outlet+ with Convenience. Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 +55% +66% +52% +44% +43% +24% +22% +27% YOY % Δ Ju l 3 0' 23 Au g 27 '2 3 O ct 1 '2 3 O ct 2 9' 23 N ov 2 6' 23 D ec 3 1' 23 Ja n 28 '2 4 M ar 3 '2 4 M ar 3 1' 24
Slide 15: Premier Protein Powder Distribution Strong Year-over-Year Growth
15 Premier Protein Powder Distribution Strong Year-over-Year Growth Notes: Circana U.S. Multi Outlet+ with Convenience. 104 169 50 59 0 10 20 30 40 50 60 0 50 100 150 200 250 % A C V TD P s Total Points of Distribution ACV Weighted Distribution
Slide 16: Dymatize Growth Primarily Driven by eCommerce and RTD Shakes
16 • Tracked and untracked consumption represents ~60% of total global business Dymatize $ Sales vs. Prior Year Channel 13 Weeks 52 Weeks eCommerce +17.3% +6.3% Mass +2.7% +0.3% Specialty/All Other -10.1% -17.6% Food -2.4% -9.1% Club -33.7% -23.7% Total Consumption (tracked + untracked channels) +4.
Slide 17: Total Dymatize Consumption Grew in Q3 FY2025
17 Total Dymatize Consumption Grew in Q3 FY2025 Notes: Circana U.S. Multi Outlet+ with Convenience and management estimates of untracked channels. Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 +38% +16% -8% -11% -10% -8% +3% +5% YOY % Δ Ju l 3 0' 23 Au g 27 '2 3 O ct 1 '2 3 O ct 2 9' 23 N ov 2 6' 23 D ec 3 1' 23 Ja n 28
Slide 18: Dymatize Powders Growing Distribution Year-Over-Year
18 Dymatize Powders Growing Distribution Year-Over-Year Notes: Circana U.S. Multi Outlet+ with Convenience. 233 285 52 53 0 10 20 30 40 50 60 0 50 100 150 200 250 300 350 % A C V TD P s Total Points of Distribution ACV Weighted Distribution
Slide 19: BellRing's Complementary Powder Portfolio Remains a Strong and Meaningful Category Player
9.0% 8.0% 6.7% 4.8% 2.3% 3.2% % 1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 4 W E 0 7 -3 0 -2 3 4 W E 0 8 -2 7 -2 3 4 W E 0 9 -2 4 -2 3 4 W E 1 0 -2 2 -2 3 4 W E 1 1 -1 9 -2 3 4 W E 1 2 -1 7 -2 3 4 W E 0 1 -1 4 -2 4 4 W E 0 2 -1 1 -2 4 4 W E 0 3 -1 0 -2 4 4 W E 0 4 -0 7 -2 4 4 W E 0 5 -0 5 -2 4 4 W E 0 6 -0 2 -2
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