BellRing Brands (NYSE:BRBR) reported revenue shot up 24.6% year-over-year in FQ4 to $427.6M. The sales growth during the quarter was driven by 19.4% increase in volume and 5.2% improvement in price/mix.
The company's Premier Protein sales increased 30.2% during the quarter, driven by 21.0% increase in volume and 9.2% improvement in price/mix. Sales in the Dymatize segment decreased 0.9%, driven by 0.7% decrease in volume primarily from lapping a trade inventory build in the international and specialty channels in the prior year period. That headwind offset strong volume growth from distribution gains and organic growth.
Gross profit was 32.9% of sales during the quarter vs. 32.3% a year ago. The higher gross profit margin was driven by improved pricing that mitigated input cost inflation, which was partially offset by incremental promotional activity.
Adjusted EBITDA increased 23.3% year-over-year during the quarter to $98.5M. EPS came in at $0.41 vs. and $0.31 a year ago.
"Our momentum remains high on both brands with the convenient nutrition category providing strong tailwinds. Our shake capacity expansion is on track and the long-term prospects for our company and our brands remain bright," noted CEO Darcy Davenport.
Looking ahead, BellRing Brands (BRBR) sees full-year sales landing in a range of $1.83B to $1.91B vs. $1.86B consensus and adjusted EBITDA to range from $360M to $390M vs. $371.4M consensus.
Shares of BellRing Brands (BRBR) traded flat in the premarket session on Tuesday.
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