BellRing Brands reports Q2 adjusted EPS 14c, consensus 31c

Reports Q2 revenue $598.7M, consensus $608.79M. “We are disappointed in our second quarter results. Heightened consumer price sensitivity together with a sustained promotional environment adversely impacted our sales mix. This unfavorable mix, along with higher freight costs and an inventory-related charge significantly pressured our margins. Even in this backdrop, Premier Protein brand metrics remain strong, evidenced by volume growth, strong brand equity scores and increases in household penetration. Looking ahead, we’re making the deliberate choice to continue investing to support our long-term growth. Our revised guidance incorporates promotional and consumer headwinds through the balance of the year, along with incremental inflation on protein and freight, while investing in advertising. While the current environment remains challenging, our category remains healthy and we are taking action to improve our long-term financial performance,” said Darcy Davenport, President and Chief Executive Officer of BellRing Brands (BRBR).