BellRing Brands – the producer of leading brands Premier Protein and Dymatize brands – reported 15.6% net sales growth to $515.4 million in its Q3 2024 earnings report this morning, bolstered by convenient nutrition category and ready-to-drink (RTD) growth. Here’s the top-level view:

• Premier Protein net sales grew 19.8% in the quarter, driven by a 19.2% increase in volume and a 0.6% increase in price/mix. Within that umbrella, RTD shake consumption was up 29% and powders were up 52%. 
• Dymatize net sales fell 2.6%, fueled by a 4.4% increase in volume that was offset by a 7% decrease in price/mix. 
• Gross profit was $189.9 million, or 36.8% of net sales, an increase of 39.6%, or $53.9 million, compared to $136 million, or 30.5% of net sales, in Q3 2023. 
• SG&A expenses jumped to $64 million, or 14.4% of net sales, an increase of $18.9 million. 

Celsius reported a 23.4% rise in revenue in Q2 2024, as the energy drink maker’s growth continued to slow after a prolonged period of significant gains, according to the quarterly earnings report released this morning.

• Revenue clocked in at $402 million (compared to $325.9 million in the same period last year), driven largely by 36.5% growth in U.S. retail channel sales. However, that’s still down from 37% growth in Q1 2024 and +95% in Q4 2023.
• Gross profit increased 32% ($209.1 million) compared to $159 million for the prior-year period.
• The brand reported solid gains outside the U.S., with international sales rising  30% y/y (from $15.1 million to $19.6 million). On Amazon, sales jumped 41%, and in the club channel, sales increased 30% to $88 million.

Even with revenue decelerating, Celsius keeps picking up dollar share: having been the third brand to crack a 10% share (after Red Bull and Monster), it’s now up to 11%.  Assuming category growth of 3% in 2024 and 5% thereafter, Jefferies analysts estimate that Celsius can reach 15% category share by 2028.

Read the full earnings recap on BevNET.

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