Yasmine Deswandhy

Yasmine Deswandhy asked about BellRing Brands' longer-term strategy regarding portfolio expansion (e.g., bars, breakfast offerings) given the expanding convenient nutrition category, and any changes in capital allocation priorities, particularly M&A, in light of a recent board appointment.

Answer

Darcy Davenport, President and CEO, BellRing Brands, reiterated focus on RTD shakes and powders, citing a demand landscape study confirming significant growth opportunity. She noted participation in other categories (pancakes, waffles, cereal) through licensing to keep the organization focused, and confirmed no plans to re-enter bars. Paul Rode, CFO, BellRing Brands, stated capital allocation priorities haven't shifted much: first, investing in the business; second, share repurchases as a near-term priority; and M&A as a mid-to-longer-term priority, with the new board member bringing M&A expertise.

Yasmine Deswandhy inquired about BellRing Brands' longer-term strategy regarding portfolio expansion into other convenient nutrition categories like bars or breakfast offerings, and any changes in capital allocation priorities, particularly concerning M&A, given a recent board appointment.

Answer

President and CEO Darcy Davenport affirmed confidence in RTD shakes and powders, citing significant growth opportunities and white space. She noted participation in other categories (e.g., pancakes, waffles, cereal) through licensing to maintain organizational focus. CFO Paul Rode confirmed unchanged capital allocation priorities: investing in the business, maintaining an asset-light model, aggressive share repurchases (near-term), and M&A as a mid-to-longer-term priority.