BellRing Brands 2025 Q4 Earnings Revenue Surges 16.6% Despite EPS Decline

BellRing Brands (BRBR) reported fiscal 2025 Q4 earnings on November 18, 2025, with revenue rising 16.6% to $648.2 million, exceeding expectations. However, earnings per share (EPS) declined 11.4% to $0.49, missing analyst forecasts. The company revised its 2026 guidance to reflect 4–8% net sales growth and adjusted EBITDA of $425–$455 million, citing near-term challenges but optimism for later-year acceleration.

Revenue

BellRing Brands’ total revenue surged 16.6% year-over-year to $648.2 million in Q4 2025, driven by strong performance across segments. The Premier Protein segment reported 14.9% growth, fueled by 18.4% volume gains despite a 3.5% decline in price/mix. Dymatize sales jumped 32.9%, supported by robust volume growth. International sales also benefited from a $8 million timing shift due to fiscal 2026 pricing actions.

Earnings/Net Income

Net income fell 16.9% to $59.6 million, or $0.49 per share, compared to $0.56 in Q4 2024. While the company maintained profitability for six consecutive years, the EPS decline underscored margin pressures from inflation, promotional activity, and packaging redesign costs. Despite revenue growth, the earnings shortfall highlights operational challenges.

Post-Earnings Price Action Review

The strategy of purchasing BRBR shares after a quarterly revenue drop and holding for 30 days showed mixed performance over three years. While the approach captured short-term rebounds in most quarters, broader market fluctuations and the stock’s volatility muted long-term gains. The strategy outperformed the market in quarters with strong stock reactions to revenue news but underperformed when the market absorbed declines more gradually. Success hinged on investor sentiment toward revenue drops, with temporary setbacks favoring the strategy over long-term declines.

CEO Commentary

CEO Darcy Davenport highlighted 16% net sales growth and a 20.8% adjusted EBITDA margin in 2025, driven by Premier Protein’s dominance in the RTD shake market. She acknowledged near-term Q1 2026 challenges due to tough comparisons and promotional dynamics but expressed confidence in growth later in the year. Strategic priorities include expanding distribution, elevating advertising, and innovation to capture new consumer segments.

Guidance

BellRing guided for 2026 net sales of $2.41–$2.49 billion (4–8% growth) and adjusted EBITDA of $425–$455 million (18% margin). Q1 2026 net sales are expected to decline ~5% due to lapping prior-year promotions and a non-recurring sales pull-forward. Margins face 280-basis-point pressure from tariffs, commodity inflation, and advertising costs.

Additional News

1. Share Repurchase Program: BellRing announced a $400 million share repurchase program, having already repurchased 7% of outstanding shares in 2025.

2. Long-Term Growth Targets: The company revised its long-term revenue growth target to 7–9%, reflecting confidence in Premier Protein’s leadership in the $8.7B RTD shake category.

3. RTD Shake Strategy: CEO Davenport emphasized innovation and retailer partnerships to drive household penetration, leveraging trends like GLP-1 adoption and functional beverage demand.