Bellring Brands Inc
Q4 2025 Earnings
Market Reaction
S&P 500 over the same 30 days: +3.11%.
Did BRBR Beat Earnings? Q4 2025 Results
BellRing Brands posted a mixed fiscal fourth quarter, delivering a top-line beat while falling short on the bottom line as margin pressure weighed on profitability. Revenue climbed 16.6% year-over-year to $648.20 million, clearing the $633.76 million consensus estimate by 2.28%, but adjusted diluted EPS of $0.51 came in 6.83% below the $0.55 consensus, as gross margin contracted sharply to 28.9% from 36.9% a year ago, hit by input cost inflation, increased promotional activity, and packaging redesign costs. Volume growth of 19.2% across the Premier Protein RTD shake lineup drove the top-line strength, though a 2.6% price/mix headwind tempered the gains. Looking ahead, BellRing guided fiscal 2026 net sales of $2.41 billion to $2.49 billion, representing 4% to 8% growth, with Adjusted EBITDA of $425 million to $455 million; however, management flagged an approximate 5% net sales decline in Q1 due to tough club channel comparisons, with growth expected to accelerate as the year progresses.
- Premier Protein RTD shake volume growth of 18.4% in Q4
- Expanding household penetration for Premier Protein reaching 22.0%
- Distribution gains with Premier Protein RTD TDPs at all-time high (+29%)
- Incremental promotional events driving volume but pressuring price/mix
- Dymatize net sales up 32.9% in Q4, partly aided by ~$8M timing shift from international purchases ahead of pricing actions
- Premier Protein RTD dollar consumption up 20.4% in Q4 across all channels
- Convenient nutrition category momentum of +11% with RTD driving +15% growth
“We delivered strong results in 2025, with sales up 16% driven by expanding household penetration, continued distribution gains and meaningful innovation performance. Premier is the #1 ready-to-drink protein shake brand, supported by strong brand equity, high repeat purchase rates, a scalable manufacturing platform and deep retail partnerships.”
BellRing Brands CEO, on the earnings call
Forward Guidance & Outlook
BellRing guided FY2026 net sales of $2.41-$2.49 billion (4%-8% growth) and Adjusted EBITDA of $425-$455 million (approximately 18% of net sales). Capital expenditures are expected to be $8 million. Q1 FY2026 net sales are expected to decline approximately 5% year-over-year due to tough prior year club channel comparisons and non-repeating promotional events for both Premier Protein and Dymatize, as well as a Dymatize sales timing benefit in Q4 FY2025. These one-time factors represent a 4-percentage point headwind to Q1 growth. Q1 Adjusted EBITDA as a percentage of net sales is expected to be approximately 16%. Growth is expected to accelerate beyond Q1 as merchandising initiatives, advertising and innovation become more meaningful and club comparisons ease. The company updated its long-term financial algorithm to target annual net sales growth of 7%-9% and Adjusted EBITDA as a percentage of net sales of 18%-20%.
BRBR YoY Financials
Figures from SEC filings and company reports. Not investment advice.