Bellring Brands, Inc. · NYSE:BRBR
Bellring Brands — Q4 2022 Earnings Presentation
16 slides from Bellring Brands's earnings presentation, Nov 18, 2022
Slide 1: Fourth Quarter Fiscal Year 2022 Supplemental Presentation
Fourth Quarter Fiscal Year 2022 Supplemental Presentation November 17, 2022
Slide 2: Cautionary Statement Regarding Forward-Looking Statements
Cautionary Statement Regarding Forward-Looking Statements Certain matters discussed in this presentation are forward-looking statements within • the ability of BellRing’s third party contract manufacturers to produce an amount of the meaning of the Private Securities Litigation Reform Act of 1995. T
Slide 3: Cautionary Statement Regarding Forward-Looking Statements (Cont'd)
Cautionary Statement Regarding Forward-Looking Statements (Cont’d) (CONTINUED FROM PRIOR PAGE): • costs, business disruptions and reputational damage associated with information • BellRing’s high leverage, its ability to obtain additional financing (including both technology failures, cybersecurity
Slide 4: Additional Information
Additional Information Prospective Information Market and Industry Data Any prospective information provided in this presentation regarding BellRing’s future This presentation includes industry and trade association data, forecasts and performance, including BellRing’s plans, expectations, estimates
Slide 5: Q4 FY2022 Consumption and Key Metrics Executive Summary
Q4 FY2022 Consumption and Key Metrics Executive Summary ● Premier Protein ready-to-drink (“RTD”) shake consumption was down (-5%1 in the last 13 weeks) as we lap a quarter of heavy promotion and temporarily discontinued flavors. However, consumption has shown steady improvement in FY2022. ○ Shipment
Slide 6: Liquids Category Continues to Outpace Pre-Covid Growth Rates
Liquids Category Continues to Outpace Pre-Covid Growth Rates YOY % Δ 25% RTD Liquids Category Liquids Category Growth Rate 20% L13 +10.3% L52 +12.2% 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 08/07/21 09/04/21 10
Slide 7: Consumption Trends Down vs. Year Ago Due to Lapping Promotional Activity
Consumption Trends Down vs. Year Ago Due to Lapping Promotional Activity Premier Protein RTD Shakes Sales vs. Prior Year Channel 13 Weeks 52 Weeks Club -10.5% -1.8% Mass +12.4% +4.2% Food +2.3% -4.1% eCommerce -7.7% -1.0% Total Consumption (tracked + untracked channels) -5.3% -0.6% Total Tracked +2.
Slide 8: Premier Protein RTD Shakes Consumption Showing Steady Improvement in FY2022
Premier Protein RTD Shakes Consumption Showing Steady Improvement in FY2022 YOY Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 %Δ +28% +20% +46% +30% +10% -2% -2% -5% Notes: NielsenIQ xAOC+C and management estimates of untracked channels. 8
Slide 9: Q4 Shipments Outpaced Consumption as Customers Build Inventory to Target Levels
Q4 Shipments Outpaced Consumption as Customers Build Inventory to Target Levels Premier Protein RTD Shakes Consumption vs. Shipments (13 Week Quarters) Promotional Trade Inventory Promotional Shipments tracking Consumption Consumption Trade Inventory Trade Inventory Load-In, Seasonality Increase, Se
Slide 10: Premier Protein RTD Shake TDPs Remain Stable
Premier Protein RTD Shake TDPs Remain Stable % ACV TDPs Notes: NielsenIQ xAOC+C through October 1, 2022. 10
Slide 11: Household Penetration Softened as Deal-Seeking Buyers Temporarily Exited
Household Penetration Softened as Deal-Seeking Buyers Temporarily Exited Due to Lack of Promotions; Buy Rate Increased as Loyal Customers Bought More Premier Protein Total Brand & RTD Shakes Penetration Liquids 25.8 HH Pen 9.0 8.1 8.0 7.7 Liquids 24.8 HH Pen 7.1 Liquids 22.8 HH Pen 6.7 7.0 6.0 6.2 6
Slide 12: Premier Protein RTD Shakes Share is Stable Despite Pullback in Flavors and Promotion
Premier Protein RTD Shakes Share is Stable Despite Pullback in Flavors and Promotion Monthly Premier Protein RTD Shakes $ Share % 24.0% 22.0% 20.0% 18.4% 18.0% 16.5% 16.0% 14.0% 12.0% 10.0% Notes: NielsenIQ xAOC+C through October 1, 2022. 12
Slide 13: U.S. Dymatize Powders Experiencing Strong Growth
U.S. Dymatize Powders Experiencing Strong Growth • Tracked and Untracked Consumption Represents ~75% of Total U.S. Business U.S. Dymatize Powders Sales vs. Prior Year Channel 13 Weeks 52 Weeks eCommerce +36.5% +33.8% Specialty/All Other +41.2% +23.3% Mass +82.0% +78.3% Club -100% -17.7% Food +94.9%
Slide 14: U.S. Dymatize Powders Continue Strong Track Record of Growth
U.S. Dymatize Powders Continue Strong Track Record of Growth YOY Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 %Δ +58% +83% +103% +50% +48% +46% +21% +32% Notes: NielsenIQ xAOC+C and management estimates of untracked channels. 14
Slide 15: U.S. Dymatize Powders TDP Levels Reach All Time High
U.S. Dymatize Powders TDP Levels Reach All Time High % ACV TDPs Notes: NielsenIQ xAOC+C through October 1, 2022. 15
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