Core Viewpoint - A class action lawsuit has been filed against BellRing Brands, Inc. for allegedly misleading investors regarding the company's sales growth during the specified period [1][3]. Company Overview - BellRing Brands, Inc. is headquartered in St. Louis, MO, and markets nutrition products including ready-to-drink protein shakes, nutrition drinks, powders, and protein bars under the Premier Protein and Dymatize brands [2]. Lawsuit Details - The lawsuit claims that during the class period from November 19, 2024, to August 4, 2025, BellRing's CEO and CFO misrepresented the company's sales growth as being driven by increased consumer demand and organic growth, while downplaying competitive impacts [3]. - Contrary to the defendants' statements, the lawsuit alleges that the reported sales were primarily due to inventory stockpiling by key customers [4].

Financial Data and Key Metrics Changes - Total BellRing net sales for the quarter were $537 million, up 1% year-over-year, with Adjusted EBITDA of $90 million at a margin of 16.8% [19][20] - Premier Protein net sales were down 1%, while Dymatize net sales increased by 16% due to strong international growth [19][20] - Adjusted EBITDA guidance was updated to $425 million-$440 million, reflecting a decline in adjusted gross margins due to input cost inflation and increased promotional investments [21][23] Business Line Data and Key Metrics Changes - Premier RTD shake consumption was down 2% in the quarter, while Dymatize saw a 16% increase in sales driven by international markets [9][19] - Premier shake volumes were flat, with price mix and unfavorable factors contributing to a 2% decline [19] - The wellness category grew 7% in Q1, with RTD shakes also up 7%, primarily driven by volume [9] Market Data and Key Metrics Changes - The RTD shake category holds a 22% market share for Premier, with expectations of high single-digit growth for 2026 [4][7] - Retailers are increasing category space and testing higher traffic aisle locations to capture growing consumer demand [7] - The broader category definition has increased the U.S. category size to $24 billion from $21 billion, reflecting changing consumer perceptions [8] Company Strategy and Development Direction - The company is focused on growing distribution, increasing brand investments, and launching innovations to drive consumption [6][10] - A new advertising campaign, "Go Get 'Em," aims to strengthen emotional connections and drive household penetration [12][13] - The company plans to launch new shake lines targeting different consumer needs and occasions in the second half of the year [15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the category's growth and the strength of their brands, despite increased promotional activity from insurgent brands [16][17] - The company anticipates an acceleration in growth in the second half of the year, driven by distribution gains and increased brand investment [22][24] - Management acknowledged the challenges posed by input cost inflation and tariffs but remains optimistic about long-term value creation for shareholders [23][25] Other Important Information - A leadership transition plan was announced, with the current CEO set to retire by September 30, 2026, and a search for a new CEO is underway [16][17] - The company continues to return cash to shareholders through share repurchases, totaling $97 million in the first quarter [21] Q&A Session Summary Question: Performance of mass merchandiser test for Premier Protein - Management reported that the program is performing well, with record weekly sales and plans to expand the initiative to other retailers [29][30] Question: Consumption trends for Premier Protein - Management noted that consumption was impacted by promotional delays and increased competition, but they expect improvement moving forward [36][37] Question: Future promotional activities and merchandising events - Management indicated that they are working on expanding promotional plans based on recent successes and learnings from current merchandising events [76][77] Question: Insights on Dymatize's international growth - Dymatize has been performing well internationally, with strong sales in various global markets, and management expects this trend to continue [63][64] Question: M&A opportunities in the protein shake category - Management is actively monitoring the competitive landscape and is open to both organic and inorganic growth opportunities [91][92]

Financial Data and Key Metrics Changes - Total net sales for the quarter were $537 million, up 1% year-over-year, with Adjusted EBITDA of $90 million at a margin of 16.8% [19][20] - Premier Protein net sales decreased by 1%, while Dymatize net sales increased by 16% due to strong international growth [19][20] - Adjusted EBITDA guidance was updated to $425 million-$440 million, reflecting a slight mix shift towards the lower-margin Dymatize business and increased whey costs [21][23] Business Line Data and Key Metrics Changes - Premier RTD shake consumption was down 2% in the quarter, while Dymatize experienced a 16% increase in sales [19][20] - Premier shake volumes were flat, with price mix and unfavorable factors contributing to a 2% decline [19][20] - The wellness category grew 7% in Q1, with RTD shakes also up 7%, driven primarily by volume [9] Market Data and Key Metrics Changes - The RTD shake category is expected to grow in the high single digits for 2026, driven by volume and increased marketing spend [7][9] - The U.S. category size increased to $24 billion from $21 billion due to a change in category definition from convenient nutrition to wellness [8][9] - Retailers are increasing category space and testing higher traffic aisle locations to capture growing consumer demand [7] Company Strategy and Development Direction - The company is focused on growing distribution, increasing brand investments, and launching innovation, which are expected to positively impact consumption [6][10] - A new advertising campaign, "Go Get 'Em," aims to drive household penetration and strengthen emotional connections with consumers [12][13] - The company plans to launch new shake lines targeting different protein levels and consumer experiences in the second half of the year [15][16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the category's growth and the strength of their brands, despite increased promotional activity from insurgent brands [16][17] - The company anticipates an acceleration in growth in the second half of the year, supported by distribution gains and innovation [22][24] - Management acknowledged the challenges posed by input cost inflation and tariffs but remains optimistic about long-term value creation for shareholders [21][23] Other Important Information - A leadership transition plan was announced, with the current CEO set to retire by the end of the fiscal year on September 30, 2026 [16][17] - The company is committed to returning cash to shareholders through share repurchases, with $97 million repurchased in the first quarter [21] Q&A Session Questions and Answers Question: What results are being seen from the mass merchandiser test? - The program is performing well, with record weekly sales and plans to expand to other retailers based on positive results [29][31] Question: Can you elaborate on the consumption trends for Premier Protein? - Consumption was slightly below expectations due to timing delays and increased promotional activity from competitors, but there is strong momentum with a 6% increase in January across all channels [36][37] Question: What are the assumptions for the second half of the year? - The company expects consumption to improve in Q2 and further in H2, driven by distribution, advertising, and innovation initiatives [45][46] Question: Are there any updates on the competitive landscape with insurgent brands? - The company is observing a shakeout among insurgent brands, with some not making it in the club channel due to high thresholds [54][55] Question: How is Dymatize performing in international markets? - Dymatize has been performing well internationally, with strong growth in various markets, and the brand resonates well with consumers [63][65] Question: Has the change in category definition affected M&A priorities? - The change reflects evolving consumer preferences, and the company is continuously looking for organic and inorganic growth opportunities [69]

Financial Data and Key Metrics Changes - Total net sales for BellRing Brands in Q1 2026 were $537 million, representing a 1% increase year-over-year [19] - Adjusted EBITDA was $90 million with a margin of 16.8%, exceeding expectations due to timing benefits from customer orders [19] - Premier Protein net sales decreased by 1%, while Dymatize net sales increased by 16% driven by strong international growth [19][20] - Gross profit was $161 million, with a gross profit margin of 29.9%, reflecting a decline of 730 basis points due to input cost inflation and unfavorable mix [20][24] Business Line Data and Key Metrics Changes - Premier RTD shake consumption was down 2% in Q1, compared to a 23% growth in Q1 2025, primarily due to timing delays in promotional displays and increased competition [8][19] - Dymatize's strong performance in international markets contributed to its 16% sales growth [19][66] Market Data and Key Metrics Changes - The RTD shake category is expected to grow in the high single digits for 2026, driven by volume and increased marketing spend [6][24] - The wellness category, which includes RTD shakes, grew 7% in Q1, with RTD shakes also up 7% [8] Company Strategy and Development Direction - The company is focused on growing distribution, increasing brand investments, and launching innovative products [4][5] - A new advertising campaign, "Go Get 'Em," aims to enhance household penetration and brand relevance [12] - The company is expanding its category definition from convenient nutrition to wellness, increasing the U.S. category size to $24 billion from $21 billion [7][73] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the category's growth and the company's ability to lead despite increased competition [7][16] - The leadership transition plan was announced, with the current CEO set to retire by September 30, 2026, and a national search for a new CEO underway [16][17] Other Important Information - The company expects net sales for 2026 to be between $2.41 billion and $2.46 billion, reflecting 4%-6% growth [22] - Adjusted EBITDA guidance was updated to $425 million-$440 million, incorporating higher whey costs and a shift towards lower-margin products [24] Q&A Session Summary Question: Performance of mass merchandiser test for Premier Protein - Management reported that the program is performing well, with record weekly sales and plans to expand to other retailers based on positive results [30][32] Question: Consumption trends for Premier Protein - Management acknowledged that consumption was slightly below expectations due to promotional timing and increased competition, but noted a 6% increase in consumption across all channels in January [35][38] Question: Future promotional activities and merchandising events - Management indicated that the mass retailer merchandising event is now meeting expectations and plans to enhance future promotions based on current learnings [75][82] Question: Insights on Dymatize's international growth - Dymatize has been performing well internationally, with strong sales in various global markets, and management expects this trend to continue [66][68] Question: M&A opportunities in the protein shake category - Management is actively monitoring the competitive landscape and is open to potential acquisitions of successful insurgent brands [97]

Core Viewpoint - Wilson Asset Management has sold its entire stake in BellRing Brands, indicating a significant reassessment of risk following a substantial decline in the company's stock price [1][2][7]. Company Overview - BellRing Brands, Inc. is a prominent provider of nutrition products, focusing on high-protein shakes and powders, leveraging a strong brand portfolio and diverse distribution channels [6]. - The company operates a branded consumer packaged goods model, generating income through various retail channels, targeting health-conscious consumers and fitness enthusiasts [9]. Financial Performance - As of February 2, BellRing Brands had a market capitalization of $2.92 billion, with shares priced at $24.39, reflecting a 68.8% decline over the past year, significantly underperforming the S&P 500's 15% gain [3][4]. - In the latest quarter, net sales increased by approximately 1% year over year to $537.3 million, while adjusted EBITDA fell sharply to $90.3 million due to rising whey protein costs and increased promotions [10]. Leadership and Strategic Challenges - The company is facing leadership uncertainty, with CEO Darcy Davenport set to retire once a successor is named, adding to the challenges in the near-term outlook [11]. - The current market environment presents difficulties for BellRing, as it is a capital-intensive consumer brand contending with input inflation, which complicates its growth trajectory [12].

Investor Presentation November 2022 First Quarter Fiscal Year 2026 Supplemental Presentation February 3, 2026 Cautionary Statement Regarding Forward-Looking Statements 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 presentation, and as such, are subject to uncertainty ...

Core Viewpoint - BellRing Brands, Inc. announced the retirement of President and CEO Darcy Davenport, effective upon the appointment of a new CEO or by September 30, 2026, marking a significant leadership transition for the company [1][2]. Leadership Transition - Darcy Davenport will continue in her role until the transition date and will serve in an advisory capacity thereafter to ensure a smooth leadership transition [2]. - The Board of Directors has initiated a comprehensive external search for the next CEO [2]. Contributions and Achievements - Under Darcy Davenport's leadership, BellRing Brands experienced substantial growth, with sales increasing from $140 million to over $2.3 billion [3]. - Davenport played a key role in integrating Dymatize and PowerBar into Premier Nutrition, establishing a strong foundation for long-term growth and a portfolio of category-leading products [3]. - The company has focused on proactive wellness, with a culture that emphasizes good energy and strategic growth [3]. Company Overview - BellRing Brands, Inc. is a fast-growing consumer brands business focused on the proactive wellness category, with notable brands including Premier Protein and Dymatize [5]. - The company operates in over 90 countries and emphasizes best-in-class nutritional profiles and exceptional flavors in its products [5].

Core Viewpoint - A class action lawsuit has been filed against BellRing Brands, Inc. on behalf of investors who acquired its securities during the specified Class Period, highlighting potential issues with the company's financial performance and stock price volatility [1][4]. Company Overview - BellRing Brands, Inc. is headquartered in St. Louis, MO, and markets nutrition products including ready-to-drink protein shakes, nutrition drinks, powders, and protein bars under the Premier Protein and Dymatize brands [2]. Financial Performance and Stock Price Impact - On May 6, 2025, BellRing's CFO indicated that several key retailers had reduced their inventory levels, which was expected to negatively impact third-quarter growth by a mid-single-digit percentage. Following this announcement, the stock price fell by $14.88, or 19%, from $78.43 to $63.55 per share [3]. - On August 4, 2025, BellRing narrowed its fiscal year 2025 net sales outlook due to competitive pressures, resulting in a significant stock price drop of $17.46, or 33%, from $53.64 to $36.18 per share the following day [4].

Core Viewpoint - A class action lawsuit has been filed against BellRing Brands, Inc. for allegedly misleading investors regarding its sales growth during the specified period, which led to significant stock price declines when the truth was revealed [1][3]. Company Overview - BellRing Brands, Inc. is headquartered in St. Louis, MO, and markets nutrition products including ready-to-drink protein shakes, nutrition drinks, powders, and protein bars under the Premier Protein and Dymatize brands [2]. Allegations of Misleading Information - The lawsuit claims that during the class period, BellRing, along with its CEO and CFO, misrepresented the company's sales growth as being driven by increased consumer demand and organic growth, while downplaying competitive impacts [3]. - It is alleged that the actual sales growth was primarily due to inventory stockpiling by key customers rather than genuine market demand [3]. Stock Price Impact - On May 6, 2025, following revelations from the CFO about reduced inventory levels at key retailers, BellRing's stock price fell by $14.88, or 19%, from $78.43 to $63.55 per share [4]. - On August 4, 2025, after the company adjusted its fiscal year 2025 sales outlook due to competitive pressures, the stock plummeted by $17.46, or 33%, from $53.64 to $36.18 per share [5].

Core Viewpoint - BellRing Brands, Inc. is under investigation for potential violations of federal securities laws, with concerns regarding the sustainability of its sales growth driven by temporary trade inventory loading rather than genuine consumer demand [1][2]. Group 1: Company Overview - BellRing Brands operates in the convenient nutrition category, primarily known for its brands Premier Protein and Dymatize, which offer ready-to-drink protein shakes and powders [2]. - The company reported that Premier Protein achieved an all-time high in household penetration, indicating strong demand and growth across all channels due to distribution expansion and promotional activities [2]. Group 2: Sales and Stock Performance - On May 5, 2025, BellRing disclosed that several key retailers reduced their weeks of supply, which would negatively impact growth in Q3 2025. Following this announcement, the stock price fell by $14.88, or 19%, from $78.43 to $63.55 per share [3]. - On August 4, 2025, BellRing announced disappointing quarterly consumption figures for Premier Protein RTD Shakes, leading to a stock price drop of $17.46, or nearly 33%, from $53.64 to $36.18 per share [4].