BellRing Brands Inc · Q1 2023 earnings

Briefing

BellRing Brands reported strong Q1 2023 results, driven by volume and price/mix improvements and exceeded expectations.

BellRing Brands reported net sales of $362.7 million, an increase of 18.3%. Operating profit was $75.2 million, and net earnings available to common stockholders were $44.2 million. The company affirmed its fiscal year 2023 net sales guidance and raised its Adjusted EBITDA guidance.

• Net sales increased by 18.3% to $362.7 million.
• Operating profit increased by 48.6% to $75.2 million.
• Net earnings available to common stockholders increased by 439.0% to $44.2 million.
• Adjusted EBITDA increased by 42.0% to $84.9 million.

Headline financials

Revenue & EPS history

For fiscal year 2023, BellRing management continues to expect net sales to range between $1.56-$1.64 billion and has raised its Adjusted EBITDA outlook to range between $306-$325 million (resulting in net sales and Adjusted EBITDA growth of 14%-20% and 13%-20%, respectively, over fiscal year 2022). BellRing management expects fiscal year 2023 capital expenditures of approximately $4 million.