Nutrition products company Bellring Brands (NYSE:BRBR) beat Wall Street’s revenue expectations in Q4 CY2024, with sales up 23.8% year on year to $532.9 million. The company expects the full year’s revenue to be around $2.3 billion, close to analysts’ estimates. Its non-GAAP profit of $0.58 per share was 21.2% above analysts’ consensus estimates.

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Company Overview

Spun out of Post Holdings in 2019, Bellring Brands (NYSE:BRBR) offers protein shakes, nutrition bars, and other products under the PowerBar, Premier Protein, and Dymatize brands.

Shelf-Stable Food

As America industrialized and moved away from an agricultural economy, people faced more demands on their time. Packaged foods emerged as a solution offering convenience to the evolving American family, whether it be canned goods or snacks. Today, Americans seek brands that are high in quality, reliable, and reasonably priced. Furthermore, there's a growing emphasis on health-conscious and sustainable food options. Packaged food stocks are considered resilient investments. People always need to eat, so these companies can enjoy consistent demand as long as they stay on top of changing consumer preferences. The industry spans from multinational corporations to smaller specialized firms and is subject to food safety and labeling regulations.

Sales Growth

Examining a company’s long-term performance can provide clues about its quality. Any business can put up a good quarter or two, but the best consistently grow over the long haul.

With $2.10 billion in revenue over the past 12 months, BellRing Brands is a small consumer staples company, which sometimes brings disadvantages compared to larger competitors benefiting from economies of scale and negotiating leverage. On the other hand, it can grow faster because it’s working from a smaller revenue base and has a longer runway of untapped store chains to sell into.

As you can see below, BellRing Brands’s 18.2% annualized revenue growth over the last three years was impressive as consumers bought more of its products.

This quarter, BellRing Brands reported robust year-on-year revenue growth of 23.8%, and its $532.9 million of revenue topped Wall Street estimates by 1.2%.

Looking ahead, sell-side analysts expect revenue to grow 12.2% over the next 12 months, a deceleration versus the last three years. Despite the slowdown, this projection is commendable and indicates the market is factoring in success for its products.

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Volume Growth

Revenue growth can be broken down into changes in price and volume (the number of units sold). While both are important, volume is the lifeblood of a successful staples business as there’s a ceiling to what consumers will pay for everyday goods; they can always trade down to non-branded products if the branded versions are too expensive.

To analyze whether BellRing Brands generated its growth from changes in price or volume, we can compare its volume growth to its organic revenue growth, which excludes non-fundamental impacts on company financials like mergers and currency fluctuations.

Over the last two years, BellRing Brands’s average quarterly volume growth of 21.2% has outpaced the competition by a long shot. In the context of its 21.3% average organic revenue growth, we can see that most of the company’s gains have come from more customers purchasing its products.

In BellRing Brands’s Q4 2025, sales volumes jumped 20.8% year on year. This result was in line with its historical levels.

Key Takeaways from BellRing Brands’s Q4 Results

We were impressed by how significantly BellRing Brands blew past analysts’ EPS and EBITDA expectations this quarter. We were also glad its revenue and gross margin outperformed Wall Street’s estimates. The cherry on top was that it raised its full-year revenue and EBITDA guidance. Overall, we think this was a splendid "beat-and-raise" quarter. The stock traded up 3.5% to $80.88 immediately following the results.

BellRing Brands had an encouraging quarter, but one earnings result doesn’t necessarily make the stock a buy. Let’s see if this is a good investment. When making that decision, it’s important to consider its valuation, business qualities, as well as what has happened in the latest quarter. We cover that in our actionable full research report which you can read here, it’s free.