Glanbia

BellRing Brands Q4 results – FY23 guidance offers modest profit upside

  • Sectors : Foods
  • Companies : Glanbia

Ratings and price correct at time of issue.

  • Glanbia

    Closing Price: 1140c

  • RATING 30/06/09

  • PREVIOUS RATING N/A

DAVY VIEW

BellRing reported FY22 results after close on November 17th. Q4 revenue growth of 11.5% was supported by ongoing significant pricing across both Premier Protein and Dymatize brands – this was partly offset by negative volume impacts relating to production shortfalls at bottling co-mans and effects from flavour discontinuations. Dairy protein costs have moderated but remain “significantly” elevated. The FY23 outlook is broadly in line with consensus, with some modest upside to adjusted EBITDA.

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Nov 21 2022, 07:25 GMT

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