BellRing Brands Lowers Adjusted EBITDA Guidance on Inventory and Ingredient Issues
BellRing Brands reduced its annual adjusted EBITDA forecast to $275–295m from $315–335m, citing inventory and ingredient problems. Third-quarter sales beat market expectations, but the outlook reflects $28m of unfavorable inventory impacts, including an $11.3m charge tied to a third-party ingredient that failed quality standards. The company plans additional trade spend for excess inventory and expects net sales to rise 1–3% to $2.335–$2.375bn, with net earnings of $34.2m.