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BellRing Brands

BellRing Brands (BRBR) Q3 2026 Earnings

Reported Aug 4, 2026 at 7:02 AM ET · SEC Source

Q3 26 EPS

$0.30

MISS 18.50%

Est. $0.37

Q3 26 Revenue

$570.4M

BEAT +4.05%

Est. $548.2M

vs S&P Since Q3 26

-11.0%

TRAILING MARKET

BRBR -10.7% vs S&P +0.2%

Market Reaction

Did BRBR Beat Earnings? Q3 2026 Results

BellRing Brands delivered a tale of two metrics in its fiscal third quarter of 2026, topping revenue expectations while falling notably short on the bottom line. Net sales climbed 4.2% year-over-year to $570.40 million, clearing the $548.19 million c… Read more BellRing Brands delivered a tale of two metrics in its fiscal third quarter of 2026, topping revenue expectations while falling notably short on the bottom line. Net sales climbed 4.2% year-over-year to $570.40 million, clearing the $548.19 million consensus, but adjusted diluted EPS of $0.30 missed the $0.37 estimate by 18.50%, tumbling from $0.55 in the year-ago quarter. The culprit was severe margin compression: gross margin collapsed to 28.6% from 35.4% a year ago, hammered by input cost inflation inclusive of tariffs, higher freight costs, and a $10.00 million charge tied to excess shake bottle inventory that alone created a 180 basis point headwind. Dymatize was a bright spot, with net sales surging 26.7%, though Premier Protein faced headwinds from promotional investment and club channel softness. With an ongoing federal securities investigation casting a shadow over inventory practices, management updated full-year guidance to net sales of $2.33 to $2.38 billion and Adjusted EBITDA of $275 to $295 million, reflecting continued pressure from roughly $28.00 million in cumulative inventory-related impacts.

Key Takeaways

  • • Premier Protein RTD shake volume growth of 3.1% driven by distribution gains with TDPs up 27% year-over-year
  • • Dymatize net sales growth of 26.7% driven by inflation-driven price increases and international distribution gains
  • • Significant input cost inflation inclusive of tariffs and higher freight pressured gross margins
  • • $10 million excess shake bottle inventory charge created 180 bps headwind to gross margin
  • • Incremental promotional investment negatively impacted Premier Protein RTD price/mix
  • • Marketing and consumer advertising expenses increased $6.7 million year-over-year

BRBR Forward Guidance & Outlook

For fiscal year 2026, BellRing updated guidance to net sales of $2.335-$2.375 billion (1-3% growth), Adjusted EBITDA of $275-$295 million (approximately 12% of net sales), and capital expenditures of $10 million. The Adjusted EBITDA outlook includes $28 million of unfavorable inventory-related impacts ($21.3 million recorded in Q2 and Q3, plus approximately $7 million expected in Q4 primarily from targeted trade spend to support sell-through of excess shake bottle inventory and optimize inventory levels ahead of fiscal year end). Recovery from the $11.3 million ingredient quality charge has not been incorporated into the outlook. The company is taking pricing, productivity and disciplined cost management actions to improve profitability.

24/7 Wall St

BRBR YoY Financials

Q3 2026 vs Q3 2025, source: SEC Filings

“I am honored to lead BellRing into its next chapter of growth and value creation in a category with attractive long-term fundamentals. Premier Protein is the clear leader in ready-to-drink shakes backed by a powerful brand and deep consumer loyalty. We have a strong foundation and meaningful opportunity to strengthen execution, reinforce our market leadership and deliver more consistent, profitable growth over time. As I begin meeting with our employees, customers and partners, I am energized by the talent across the organization and confident in our ability to create long-term value for shareholders.”

— Michael Axelrod, Q3 2026 Earnings Press Release

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