<p>Bellring Brands Inc Class A ((BRBR)) 最近召开了第四季度财报电话会议。以下是会议的主要亮点。</p>
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<p>BellRing Brands Inc Class A 最近召开了财报电话会议，揭示了利益相关者之间的复杂情绪。公司庆祝了强劲的 2025 财年表现，标志着显著的股票回购和在即饮奶昔市场的稳固地位。然而，关于竞争加剧、预计 2026 年第一季度销售下降以及通货膨胀和关税的不利影响等问题引发了担忧。</p>
<h2>强劲的 2025 财年表现</h2>
<p>BellRing Brands 报告称，2025 财年净销售额增长了 16%，调整后的 EBITDA 利润率达到了 20.8%。公司从运营中产生了令人印象深刻的 2.61 亿美元现金流，维持了 2.1 倍的净杠杆比率，展示了其财务稳定性和运营效率。</p>
<h2>创纪录的股票回购</h2>
<p>为了提升股东价值，BellRing Brands 回购了约 7% 的流通股，总计 4.73 亿美元。公司在 10 月份继续这一趋势，回购了额外 4000 万美元的股票，反映出对其长期增长前景的信心。</p>
<h2>Premier Protein 的市场领导地位</h2>
<p>BellRing 的旗舰品牌 Premier Protein 在第四季度表现出市场领导地位，奶昔消费增长了 20%。该品牌在家庭渗透率和重复购买率方面保持领先地位，彰显了其强大的消费者忠诚度和市场存在感。</p>
<h2>创新与市场扩展</h2>
<p>BellRing Brands 正在通过推出杏仁奶昔和新的咖啡屋奶昔系列来扩展其产品线。这些创新旨在满足对非乳制品和能量饮料日益增长的需求，使公司能够吸引更广泛的消费者群体。</p>
<h2>竞争挑战与市场动态</h2>
<p>即饮奶昔类别正面临竞争加剧，新品牌不断进入市场，市场动态发生变化。这导致了一些市场份额的变化，给 BellRing 维持其领导地位带来了挑战。</p>
<h2>预计 2026 年第一季度销售下降</h2>
<p>BellRing 预计 2026 年第一季度净销售额将下降 5%，这归因于俱乐部渠道的挑战性比较以及缺乏以往的促销活动。该预测突显了在不断变化的市场环境中进行战略调整的必要性。</p>
<h2>商品通货膨胀和关税的影响</h2>
<p>公司面临来自商品通货膨胀和关税的重大压力，预计将导致 2026 财年调整后的 EBITDA 利润率降至 18%。这些经济因素给 BellRing 带来了持续的挑战，必须加以应对以维持盈利能力。</p>
<h2>前瞻性指导</h2>
<p>展望未来，BellRing Brands 预计 2026 财年净销售额增长将达到 4% 至 8%，调整后的 EBITDA 利润率预计在 18% 左右。公司仍致力于实现每年净销售额增长 7% 至 9% 以及调整后的 EBITDA 利润率在 18% 至 20% 之间。计划继续投资于品牌支持和营销，以推动这些目标的实现。</p>
<p>总之，BellRing Brands Inc Class A 的财报电话会议描绘了一家在财务成就和增长战略方面表现强劲的公司。尽管面临竞争和经济挑战，BellRing 对创新和市场扩展的承诺使其在未来成功的道路上具备良好定位。投资者将密切关注公司如何应对这些逆风，同时利用其市场优势。</p>

BRBR

<p>BellRing Brands Inc Class A 举行了第四季度财报电话会议，强调了 2025 财年的强劲表现，净销售额增长 16%，调整后 EBITDA 利润率为 20.8%。公司回购了 7% 的股份，反映出对增长的信心。Premier Protein 在市场上表现突出，摇晃饮品消费增长了 20%。然而，面临的挑战包括竞争加剧、预计 2026 年第一季度销售额下降 5% 以及来自通货膨胀和关税的压力。BellRing 预计 2026 财年净销售额增长 4%-8%，并专注于创新和市场扩展以应对挑战</p>

<p>Bellring Brands Inc Class A ((BRBR)) has held its Q4 earnings call. Read on for the main highlights of the call.</p>
<div class="lb-trans"><p>Bellring Brands Inc Class A ((BRBR)) 最近召开了第四季度财报电话会议。以下是会议的主要亮点。</p>
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</div><p>BellRing Brands Inc Class A recently held its earnings call, revealing a mixed sentiment among stakeholders. The company celebrated a strong fiscal 2025 performance, marked by significant share repurchases and a solid position in the ready-to-drink shake market. However, concerns were raised about increased competition, a forecasted decline in Q1 2026 sales, and the adverse effects of inflation and tariffs.</p>
<div class="lb-trans"><p>BellRing Brands Inc Class A 最近召开了财报电话会议，揭示了利益相关者之间的复杂情绪。公司庆祝了强劲的 2025 财年表现，标志着显著的股票回购和在即饮奶昔市场的稳固地位。然而，关于竞争加剧、预计 2026 年第一季度销售下降以及通货膨胀和关税的不利影响等问题引发了担忧。</p>
</div><h2>Strong Fiscal Year 2025 Performance</h2>
<div class="lb-trans"><h2>强劲的 2025 财年表现</h2>
</div><p>BellRing Brands reported a robust fiscal year 2025, with net sales growing by 16% and an adjusted EBITDA margin reaching 20.8%. The company generated an impressive $261 million in cash flow from operations, maintaining a net leverage ratio of 2.1x, showcasing its financial stability and operational efficiency.</p>
<div class="lb-trans"><p>BellRing Brands 报告称，2025 财年净销售额增长了 16%，调整后的 EBITDA 利润率达到了 20.8%。公司从运营中产生了令人印象深刻的 2.61 亿美元现金流，维持了 2.1 倍的净杠杆比率，展示了其财务稳定性和运营效率。</p>
</div><h2>Record-Breaking Share Repurchases</h2>
<div class="lb-trans"><h2>创纪录的股票回购</h2>
</div><p>In a strategic move to enhance shareholder value, BellRing Brands repurchased approximately 7% of its shares outstanding, totaling $473 million. The company continued this trend in October, buying back an additional $40 million worth of shares, reflecting confidence in its long-term growth prospects.</p>
<div class="lb-trans"><p>为了提升股东价值，BellRing Brands 回购了约 7% 的流通股，总计 4.73 亿美元。公司在 10 月份继续这一趋势，回购了额外 4000 万美元的股票，反映出对其长期增长前景的信心。</p>
</div><h2>Premier Protein’s Market Leadership</h2>
<div class="lb-trans"><h2>Premier Protein 的市场领导地位</h2>
</div><p>Premier Protein, a flagship brand of BellRing, demonstrated market leadership with a 20% increase in shake consumption during Q4. The brand maintained its top position in household penetration and repeat purchase rates, underscoring its strong consumer loyalty and market presence.</p>
<div class="lb-trans"><p>BellRing 的旗舰品牌 Premier Protein 在第四季度表现出市场领导地位，奶昔消费增长了 20%。该品牌在家庭渗透率和重复购买率方面保持领先地位，彰显了其强大的消费者忠诚度和市场存在感。</p>
</div><h2>Innovation and Market Expansion</h2>
<div class="lb-trans"><h2>创新与市场扩展</h2>
</div><p>BellRing Brands is expanding its product offerings with the launch of almond milkshakes and a new Coffeehouse shake line. These innovations aim to cater to the growing demand for non-dairy and energy-boosting beverages, positioning the company to capture a broader consumer base.</p>
<div class="lb-trans"><p>BellRing Brands 正在通过推出杏仁奶昔和新的咖啡屋奶昔系列来扩展其产品线。这些创新旨在满足对非乳制品和能量饮料日益增长的需求，使公司能够吸引更广泛的消费者群体。</p>
</div><h2>Competitive Challenges and Market Dynamics</h2>
<div class="lb-trans"><h2>竞争挑战与市场动态</h2>
</div><p>The ready-to-drink shake category is witnessing increased competition, with new brands entering the market and shifting market dynamics. This has led to some market share changes, posing challenges for BellRing to maintain its leadership position.</p>
<div class="lb-trans"><p>即饮奶昔类别正面临竞争加剧，新品牌不断进入市场，市场动态发生变化。这导致了一些市场份额的变化，给 BellRing 维持其领导地位带来了挑战。</p>
</div><h2>Q1 2026 Forecasted Decline</h2>
<div class="lb-trans"><h2>预计 2026 年第一季度销售下降</h2>
</div><p>BellRing anticipates a 5% decline in Q1 2026 net sales, attributed to challenging comparisons in the club channel and the absence of previous promotional activities. This forecast highlights the need for strategic adjustments to navigate the evolving market landscape.</p>
<div class="lb-trans"><p>BellRing 预计 2026 年第一季度净销售额将下降 5%，这归因于俱乐部渠道的挑战性比较以及缺乏以往的促销活动。该预测突显了在不断变化的市场环境中进行战略调整的必要性。</p>
</div><h2>Impact of Commodity Inflation and Tariffs</h2>
<div class="lb-trans"><h2>商品通货膨胀和关税的影响</h2>
</div><p>The company is facing significant pressures from commodity inflation and tariffs, which are expected to reduce adjusted EBITDA margins to 18% in fiscal 2026. These economic factors present ongoing challenges that BellRing must address to sustain profitability.</p>
<div class="lb-trans"><p>公司面临来自商品通货膨胀和关税的重大压力，预计将导致 2026 财年调整后的 EBITDA 利润率降至 18%。这些经济因素给 BellRing 带来了持续的挑战，必须加以应对以维持盈利能力。</p>
</div><h2>Forward-Looking Guidance</h2>
<div class="lb-trans"><h2>前瞻性指导</h2>
</div><p>Looking ahead, BellRing Brands projects a net sales growth of 4% to 8% for fiscal year 2026, with adjusted EBITDA margins anticipated to be around 18%. The company remains committed to long-term annual net sales growth of 7% to 9% and adjusted EBITDA margins between 18% and 20%. Continued investment in brand support and marketing is planned to drive these objectives.</p>
<div class="lb-trans"><p>展望未来，BellRing Brands 预计 2026 财年净销售额增长将达到 4% 至 8%，调整后的 EBITDA 利润率预计在 18% 左右。公司仍致力于实现每年净销售额增长 7% 至 9% 以及调整后的 EBITDA 利润率在 18% 至 20% 之间。计划继续投资于品牌支持和营销，以推动这些目标的实现。</p>
</div><p>In summary, BellRing Brands Inc Class A’s earnings call painted a picture of a company with strong fiscal achievements and strategic initiatives for growth. Despite facing competitive and economic challenges, BellRing’s commitment to innovation and market expansion positions it well for future success. Investors will be keenly watching how the company navigates these headwinds while capitalizing on its market strengths.</p>
<div class="lb-trans"><p>总之，BellRing Brands Inc Class A 的财报电话会议描绘了一家在财务成就和增长战略方面表现强劲的公司。尽管面临竞争和经济挑战，BellRing 对创新和市场扩展的承诺使其在未来成功的道路上具备良好定位。投资者将密切关注公司如何应对这些逆风，同时利用其市场优势。</p>
</div>

BellRing Brands 财报电话会议：2025 年表现强劲，但挑战依然存在