<p>比尔·彼得斯</p>
<p>BellRing Brands（贝尔林品牌），即 Premier Protein 饮料和 PowerBar 零食的制造商，其股价暴跌超过 40%</p>
<p>BellRing 的股价在过去 12 个月内下跌超过 84%。</p>
<p>消费者纷纷追逐蛋白质，而食品行业巨头们则通过新产品创新来迎合这一趋势。但并非所有公司都能获得同样的收益。</p>
<p>在蛋白质热潮可能面临更大挑战的迹象中，BellRing Brands（BRBR）——Premier Protein 饮料、PowerBar 零食棒和 Dymatize 蛋白粉的制造商——周二股价下跌超过 42%，原因是成本上升和竞争性降价影响了其季度业绩和前景，并导致数年来首次购买趋势放缓。</p>
<p>BellRing 首席执行官达西·达文波特在公司的财报电话会议上表示，整体背景&#34;反映出消费者越来越关注价值，更加依赖促销、低价品牌和性价比高的包装尺寸。&#34;</p>
<p>尽管达文波特预计这些趋势将在公司截至 9 月的财年中持续，但其第二季度的销售仍有所增长。她指出，蛋白质对&#34;消费者和零售商都高度相关，仍有更大的增长空间。&#34;</p>
<p>这些言论正值食品公司如百事可乐（PepsiCo）和好时（Hershey）以及连锁店如星巴克（Starbucks）正在寻找将更多蛋白质融入饮料和零食的方法。与此同时，受通货膨胀影响的消费者继续寻找优惠，同时在健康和日益增多的 GLP-1 药物等方面保持支出。</p>
<p>BellRing 的股价在过去 12 个月内下跌超过 84%，并处于历史低点，此前在 2024 年和 2025 年达到了峰值。</p>
<p>达文波特周二表示，在对蛋白质产品的需求中，原材料成本上升的影响将在下半年显现。首席执行官补充说，BellRing 正在有意识地选择增加促销销售和广告支出，以维护其市场份额。</p>
<p>她表示，今年年初，蛋白质奶昔由于对健康的关注而快速增长。但这种增长吸引了竞争；零售商扩大了货架空间，尤其是在占 BellRing 销售超过 40% 的会员制商店中。</p>
<p>在第一季度，竞争对手开始降价——这是公司预期的趋势。但达文波特表示，随后出现的变化更加明显，因为来自小型竞争对手的竞争加剧。</p>
<p>&#34;然而，在这一季度，我们看到更明显的推动，包括更高水平的降级消费和对促销价格的更大反应，&#34;她说。她补充道，更多的销售量是由较低的价格驱动的。</p>
<p>然而，根据达文波特的说法，仍然有更多人消费蛋白质奶昔，几乎没有证据表明他们转向其他蛋白质增强饮料或零食。最近几个月，公司发现家庭在即饮奶昔上的支出有所下降，&#34;标志着五年来首次购买率下降，&#34;她说。</p>
<p>鉴于生产成本上升，她表示其他奶昔制造商可能会提高价格。中东的冲突也推高了公司的运输成本。</p>
<p>BellRing 周二将其财年的销售预期下调至 23.25 亿至 23.65 亿美元，之前的预测为 24.1 亿至 24.6 亿美元。</p>
<p>BellRing 报告的财年第二季度销售额为 5.987 亿美元，同比增长 2%。公司报告的调整后每股收益为 14 美分，均低于华尔街分析师的预期。</p>
<p>-比尔·彼得斯</p>
<p>此内容由 MarketWatch 创建，MarketWatch 由道琼斯公司运营。MarketWatch 与道琼斯新闻通讯和《华尔街日报》独立出版。</p>
<p>（完）道琼斯新闻通讯</p>
<p>05-05-26 1342ET</p>

BRBR

<p>贝尔林品牌（BellRing Brands），即优质蛋白饮料的制造商，其股票近期下跌超过 40%，过去一年下跌超过 84%，原因是成本上升和竞争加剧。首席执行官达西·达文波特（Darcy Davenport）指出，消费者行为向价值导向转变，影响了销售趋势。尽管公司实现了同比 2% 的销售增长，达到 5.987 亿美元，但仍将其财政年度销售预期下调至 23.25 亿至 23.65 亿美元。蛋白质市场依然重要，但贝尔林面临来自低价竞争对手和生产成本上升的挑战，包括因地缘政治紧张局势导致的运输费用</p>

<p>By Bill Peters</p>
<div class="lb-trans"><p>比尔·彼得斯</p>
</div><p>Shares of BellRing Brands, the maker of Premier Protein drinks and PowerBar snacks, are tumbling more than 40%</p>
<div class="lb-trans"><p>BellRing Brands（贝尔林品牌），即 Premier Protein 饮料和 PowerBar 零食的制造商，其股价暴跌超过 40%</p>
</div><p>Shares of BellRing are down more than 84% over the past 12 months.</p>
<div class="lb-trans"><p>BellRing 的股价在过去 12 个月内下跌超过 84%。</p>
</div><p>Consumers have stampeded toward protein, and food-industry giants are chasing them with new product innovations. But not all companies are realizing the same benefits.</p>
<div class="lb-trans"><p>消费者纷纷追逐蛋白质，而食品行业巨头们则通过新产品创新来迎合这一趋势。但并非所有公司都能获得同样的收益。</p>
</div><p>In what could be a sign of tougher things to come for the protein craze, shares of BellRing Brands (BRBR) - the maker of Premier Protein drinks, PowerBar snack bars and Dymatize protein powder - were falling more than 42% on Tuesday, after a concoction of higher costs and competitive price cuts hit its quarterly results and outlook and led to the first slowdown in purchasing trends in several years.</p>
<div class="lb-trans"><p>在蛋白质热潮可能面临更大挑战的迹象中，BellRing Brands（BRBR）——Premier Protein 饮料、PowerBar 零食棒和 Dymatize 蛋白粉的制造商——周二股价下跌超过 42%，原因是成本上升和竞争性降价影响了其季度业绩和前景，并导致数年来首次购买趋势放缓。</p>
</div><p>The backdrop overall, BellRing CEO Darcy Davenport said during the company's earnings call, &#34;reflects an increasingly value-focused consumer with greater reliance on promotions, low-price brands and value-priced pack sizes.&#34;</p>
<div class="lb-trans"><p>BellRing 首席执行官达西·达文波特在公司的财报电话会议上表示，整体背景&#34;反映出消费者越来越关注价值，更加依赖促销、低价品牌和性价比高的包装尺寸。&#34;</p>
</div><p>While Davenport expects those trends to continue through the company's fiscal year, which runs through September, its sales still increased during its second quarter. And she noted that protein was &#34;highly relevant to both consumers and retailers,&#34; with more room for growth.</p>
<div class="lb-trans"><p>尽管达文波特预计这些趋势将在公司截至 9 月的财年中持续，但其第二季度的销售仍有所增长。她指出，蛋白质对&#34;消费者和零售商都高度相关，仍有更大的增长空间。&#34;</p>
</div><p>The remarks come as food companies like PepsiCo (PEP) and Hershey (HSY) and chains like Starbucks (SBUX) are finding ways to pack more protein into drinks and snacks. Inflation-weary consumers, meanwhile, continue to seek out deals while leaving room for spending on health and, increasingly, things like GLP-1 drugs.</p>
<div class="lb-trans"><p>这些言论正值食品公司如百事可乐（PepsiCo）和好时（Hershey）以及连锁店如星巴克（Starbucks）正在寻找将更多蛋白质融入饮料和零食的方法。与此同时，受通货膨胀影响的消费者继续寻找优惠，同时在健康和日益增多的 GLP-1 药物等方面保持支出。</p>
</div><p>Shares of BellRing were down more than 84% over the past 12 months and dwelling at record lows, after hitting peaks in 2024 and 2025.</p>
<div class="lb-trans"><p>BellRing 的股价在过去 12 个月内下跌超过 84%，并处于历史低点，此前在 2024 年和 2025 年达到了峰值。</p>
</div><p>Davenport said Tuesday that amid the clamor for protein products, the effects of higher costs for ingredients would start to show up in the second half of the year. The CEO added that BellRing is making a deliberate choice to spend more on promotional sales and advertising to defend its market share.</p>
<div class="lb-trans"><p>达文波特周二表示，在对蛋白质产品的需求中，原材料成本上升的影响将在下半年显现。首席执行官补充说，BellRing 正在有意识地选择增加促销销售和广告支出，以维护其市场份额。</p>
</div><p>She said that at the beginning of the year, protein shakes were growing rapidly, thanks to an increased focus on wellness. But that growth attracted competition; retailers expanded their shelf space, particularly at club chains, which account for more than 40% of BellRing's sales, she noted.</p>
<div class="lb-trans"><p>她表示，今年年初，蛋白质奶昔由于对健康的关注而快速增长。但这种增长吸引了竞争；零售商扩大了货架空间，尤其是在占 BellRing 销售超过 40% 的会员制商店中。</p>
</div><p>During the first quarter, rivals started cutting prices - a trend the company expected. But the changes that came after, Davenport said, were more pronounced as the swarm from smaller competitors increased.</p>
<div class="lb-trans"><p>在第一季度，竞争对手开始降价——这是公司预期的趋势。但达文波特表示，随后出现的变化更加明显，因为来自小型竞争对手的竞争加剧。</p>
</div><p>&#34;This quarter, however, we saw a more pronounced push year, including higher levels of trade-down and a greater response to promoted price,&#34; she said. More sales volumes were driven by lower prices, she added.</p>
<div class="lb-trans"><p>&#34;然而，在这一季度，我们看到更明显的推动，包括更高水平的降级消费和对促销价格的更大反应，&#34;她说。她补充道，更多的销售量是由较低的价格驱动的。</p>
</div><p>However, more people were still consuming protein shakes, with little evidence they were switching to other protein-boosted beverages or snacks, according to Davenport. In recent months, the company had seen a dip in household spending on ready-to-drink shakes, &#34;marking the first decline in buy rate in five years,&#34; she said.</p>
<div class="lb-trans"><p>然而，根据达文波特的说法，仍然有更多人消费蛋白质奶昔，几乎没有证据表明他们转向其他蛋白质增强饮料或零食。最近几个月，公司发现家庭在即饮奶昔上的支出有所下降，&#34;标志着五年来首次购买率下降，&#34;她说。</p>
</div><p>Given the rise in production costs, she said other shake makers could raise their prices. The conflict in the Middle East also pushed the company's freight costs higher.</p>
<div class="lb-trans"><p>鉴于生产成本上升，她表示其他奶昔制造商可能会提高价格。中东的冲突也推高了公司的运输成本。</p>
</div><p>BellRing cut its fiscal-year sales outlook on Tuesday to a range of $2.325 billion to $2.365 billion, from a prior forecast of $2.41 billion to $2.46 billion.</p>
<div class="lb-trans"><p>BellRing 周二将其财年的销售预期下调至 23.25 亿至 23.65 亿美元，之前的预测为 24.1 亿至 24.6 亿美元。</p>
</div><p>BellRing's reported fiscal second-quarter sales of $598.7 million, up 2% year over year. The company reported adjusted earnings per share of 14 cents. Both were below Wall Street analysts' estimates.</p>
<div class="lb-trans"><p>BellRing 报告的财年第二季度销售额为 5.987 亿美元，同比增长 2%。公司报告的调整后每股收益为 14 美分，均低于华尔街分析师的预期。</p>
</div><p>-Bill Peters</p>
<div class="lb-trans"><p>-比尔·彼得斯</p>
</div><p>This content was created by MarketWatch, which is operated by Dow Jones &amp; Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.</p>
<div class="lb-trans"><p>此内容由 MarketWatch 创建，MarketWatch 由道琼斯公司运营。MarketWatch 与道琼斯新闻通讯和《华尔街日报》独立出版。</p>
</div><p>(END) Dow Jones Newswires</p>
<div class="lb-trans"><p>（完）道琼斯新闻通讯</p>
</div><p>05-05-26 1342ET</p>
<div class="lb-trans"><p>05-05-26 1342ET</p>
</div>

价格更低的蛋白质奶昔正在冲击这个行业的中坚力量