Bellring Brands, Inc. · NYSE:BRBR
Bellring Brands — Q2 FY2024 Earnings Presentation
20 slides from Bellring Brands's earnings presentation, Nov 18, 2024
Slide 1: Second Quarter Fiscal Year 2024 Supplemental Presentation
Investor Presentation November 2022 May 6, 2024 Second Quarter Fiscal Year 2024 Supplemental Presentation
Slide 2: 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): • uncertain or unfavorable economic conditions that limit customer and consumer demand for BellRing’s products or increase its costs; • risks related to BellRing’s ongoing relationship with Post Holding
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 May 6, 2024 only and are qu
Slide 5: Q2 FY2024 Consumption and Key Metrics Executive Summary
5 Q2 FY2024 Consumption and Key Metrics Executive Summary ● The convenient nutrition category continued growth (+5%)1, with strong ready-to-drink (“RTD”) growth partly offset by slowing growth in powders and bars. ● Premier Protein RTD shake consumption was up (+29%)2 in Q2 FY2024. ○ RTD shake marke
Slide 6: Ready-to-Drink Continued Double-Digit Growth; Ready-to-Mix Growth Moderated
6 Ready-to-Drink Continued Double-Digit Growth; Ready-to-Mix Growth Moderated as Consumers Seek Value Notes: Circana U.S. Multi Outlet + Convenience. Ready- to-Drink 23% 22% 19% 21% 21% 19% 20% 22% 21% 19% 15% 15% 17% 11% 9% 8% Ready- to-Mix 31% 24% 25% 18% 18% 18% 22% 22% 14% 15% 12% 10% 11% 6% 1%
Slide 7: Premier Protein RTD Shake Growth Strong Across All Channels
7 Premier Protein RTD Shake Growth Strong Across All Channels Premier Protein RTD Shakes $ Sales vs. Prior Year Channel 13 Weeks 52 Weeks Club +24.8% +21.6% Mass +44.1% +51.3% eCommerce +47.3% +50.5% Food +10.9% +24.9% Total Consumption (tracked + untracked channels) +28.8% +30.2% Total Tracked +25.
Slide 8: Premier Protein RTD Shakes Reached New Quarterly Consumption High
8 Premier Protein RTD Shakes Continued Strong Year-over-Year Growth and Reached New Quarterly Consumption High Notes: Circana U.S. Multi Outlet + Convenience and management estimates of untracked channels. YOY % Δ Q2 +22% Q1 +29% Q2 +29% Q4 -5% Q1 +15% Q3 -2% Q3 +27% Q4 +36% M ay 1 '2 2 M ay 2 9 '2
Slide 9: Q2 FY2024 Consumption Tracked Closely with Shipments
9Notes: Circana U.S. Multi Outlet + Convenience and management estimates of untracked channels. Q2 FY2024 Consumption Tracked Closely with Shipments Premier Protein RTD Shake Consumption vs. Shipments (13 Week Quarters) Consumption and shipments closely align Trade Inventory Increase, Seasonality Im
Slide 10: Out of Stocks Driving Temporary RTD Shake TDP Declines
10 Out of Stocks Driving Temporary RTD Shake TDP Declines; Recovery Expected Throughout H2 2024 Notes: Circana U.S. Multi Outlet + Convenience. 654 890 82 80 40 45 50 55 60 65 70 75 80 85 0 200 400 600 800 1,000 % A C V TD P s Total Points of Distribution ACV Weighted Distribution
Slide 11: Premier Protein Household Penetration Growth Drove Brand and Category to All-Time Highs
Notes: Numerator HH Panel 52 weeks ending 03/31/2024. Liquids refers to the liquid sub-category of the convenient nutrition category. Calendar Year (“CY”). Numerator metrics such as penetration are subject to potential restatement or revisions due to market definition changes or late reporters. 11 P
Slide 12: Premier Protein RTD Shake Share Remained Strong; Recent Decline from Out of Stocks
17.5% 18.6% 0% 5% 10% 15% 20% 25% 30% 4 W E 0 5 -0 1 -2 2 4 W E 0 5 -2 9 -2 2 4 W E 0 6 -2 6 -2 2 4 W E 0 7 -2 4 -2 2 4 W E 0 8 -2 1 -2 2 4 W E 0 9 -1 8 -2 2 4 W E 1 0 -1 6 -2 2 4 W E 1 1 -1 3 -2 2 4 W E 1 2 -1 1 -2 2 4 W E 0 1 -0 8 -2 3 4 W E 0 2 -0 5 -2 3 4 W E 0 3 -0 5 -2 3 4 W E 0 4 -0 2 -2 3 4
Slide 13: Premier Protein Powders Continued Growth Across All Channels
13 Premier Protein Powders Continued Impressive Growth Across All Channels; Significantly Outpacing the Ready-to-Mix Category Notes: Total consumption includes tracked channels consumption (Circana U.S. Multi Outlet + Convenience 13 and 52 weeks ended March 31, 2024) and untracked channels consumpti
Slide 14: Premier Protein Powders Continued Strong Growth Trajectory
Premier Protein Powders Continued Strong Growth Trajectory and Reached New Consumption Highs 14Notes: Circana U.S. Multi Outlet + Convenience and management estimates of untracked channels. Q1 Q2 Q3 Q4 Q1 Q2 +59% +122% +86% +55% +66% +52% YOY % Δ
Slide 15: Premier Protein Powders Reached All-Time Distribution Highs
15 Premier Protein Powders Reached All-Time Distribution Highs Notes: Circana U.S. Multi Outlet + Convenience. 84 177 48 59 -8 2 12 22 32 42 52 62 0 20 40 60 80 100 120 140 160 180 200 % A C V TD P s Total Points of Distribution ACV Weighted Distribution
Slide 16: Dymatize FDM Growth Offset by Softness in Specialty and eCommerce
16 Dymatize FDM Growth Offset by Softness in Specialty, Increased eCommerce Competitive Activity and Lapping Club Rotation • Tracked and untracked consumption represents ~65% of total global business Dymatize Powders $ Sales vs. Prior Year Channel 13 Weeks 52 Weeks eCommerce -10.4% +19.4% Mass +28.7
Slide 17: Dymatize Overall Consumption Remains Healthy Despite Headwinds
17 Dymatize Overall Consumption Remains Healthy, Despite Specialty and eCommerce Headwinds Notes: Circana U.S. Multi Outlet + Convenience and management estimates of untracked channels. Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 +18% +35% +30% +38% +39% +38% +16% -8% YOY % Δ M ay 1 '2 2 M ay 2 9 '2 2 Ju l 3 '2 2 Ju l
Slide 18: Dymatize Powder TDP Levels Remain Healthy
18 Dymatize Powder TDP Levels Remain Healthy Notes: Circana U.S. Multi Outlet + Convenience.
Slide 19: BellRing's Complementary Powder Portfolio Saw Meaningful Market Share Gains
19 Trended Powders $ Share % Notes: Circana U.S. Multi Outlet + Convenience. BellRing’s Complementary Powder Portfolio Saw Meaningful Market Share Gains in the Last Twelve Months
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