<p>Bellring Brands Inc Class A ((BRBR)) 最近召開了第四季度財報電話會議。以下是會議的主要亮點。</p>
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<p>BellRing Brands Inc Class A 最近召開了財報電話會議，揭示了利益相關者之間的複雜情緒。公司慶祝了強勁的 2025 財年表現，標誌着顯著的股票回購和在即飲奶昔市場的穩固地位。然而，關於競爭加劇、預計 2026 年第一季度銷售下降以及通貨膨脹和關税的不利影響等問題引發了擔憂。</p>
<h2>強勁的 2025 財年表現</h2>
<p>BellRing Brands 報告稱，2025 財年淨銷售額增長了 16%，調整後的 EBITDA 利潤率達到了 20.8%。公司從運營中產生了令人印象深刻的 2.61 億美元現金流，維持了 2.1 倍的淨槓桿比率，展示了其財務穩定性和運營效率。</p>
<h2>創紀錄的股票回購</h2>
<p>為了提升股東價值，BellRing Brands 回購了約 7% 的流通股，總計 4.73 億美元。公司在 10 月份繼續這一趨勢，回購了額外 4000 萬美元的股票，反映出對其長期增長前景的信心。</p>
<h2>Premier Protein 的市場領導地位</h2>
<p>BellRing 的旗艦品牌 Premier Protein 在第四季度表現出市場領導地位，奶昔消費增長了 20%。該品牌在家庭滲透率和重複購買率方面保持領先地位，彰顯了其強大的消費者忠誠度和市場存在感。</p>
<h2>創新與市場擴展</h2>
<p>BellRing Brands 正在通過推出杏仁奶昔和新的咖啡屋奶昔系列來擴展其產品線。這些創新旨在滿足對非乳製品和能量飲料日益增長的需求，使公司能夠吸引更廣泛的消費者羣體。</p>
<h2>競爭挑戰與市場動態</h2>
<p>即飲奶昔類別正面臨競爭加劇，新品牌不斷進入市場，市場動態發生變化。這導致了一些市場份額的變化，給 BellRing 維持其領導地位帶來了挑戰。</p>
<h2>預計 2026 年第一季度銷售下降</h2>
<p>BellRing 預計 2026 年第一季度淨銷售額將下降 5%，這歸因於俱樂部渠道的挑戰性比較以及缺乏以往的促銷活動。該預測突顯了在不斷變化的市場環境中進行戰略調整的必要性。</p>
<h2>商品通貨膨脹和關税的影響</h2>
<p>公司面臨來自商品通貨膨脹和關税的重大壓力，預計將導致 2026 財年調整後的 EBITDA 利潤率降至 18%。這些經濟因素給 BellRing 帶來了持續的挑戰，必須加以應對以維持盈利能力。</p>
<h2>前瞻性指導</h2>
<p>展望未來，BellRing Brands 預計 2026 財年淨銷售額增長將達到 4% 至 8%，調整後的 EBITDA 利潤率預計在 18% 左右。公司仍致力於實現每年淨銷售額增長 7% 至 9% 以及調整後的 EBITDA 利潤率在 18% 至 20% 之間。計劃繼續投資於品牌支持和營銷，以推動這些目標的實現。</p>
<p>總之，BellRing Brands Inc Class A 的財報電話會議描繪了一家在財務成就和增長戰略方面表現強勁的公司。儘管面臨競爭和經濟挑戰，BellRing 對創新和市場擴展的承諾使其在未來成功的道路上具備良好定位。投資者將密切關注公司如何應對這些逆風，同時利用其市場優勢。</p>

BRBR

<p>BellRing Brands Inc Class A 舉行了第四季度財報電話會議，強調了 2025 財年的強勁表現，淨銷售額增長 16%，調整後 EBITDA 利潤率為 20.8%。公司回購了 7% 的股份，反映出對增長的信心。Premier Protein 在市場上表現突出，搖晃飲品消費增長了 20%。然而，面臨的挑戰包括競爭加劇、預計 2026 年第一季度銷售額下降 5% 以及來自通貨膨脹和關税的壓力。BellRing 預計 2026 財年淨銷售額增長 4%-8%，並專注於創新和市場擴展以應對挑戰</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)) 最近召開了第四季度財報電話會議。以下是會議的主要亮點。</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 最近召開了財報電話會議，揭示了利益相關者之間的複雜情緒。公司慶祝了強勁的 2025 財年表現，標誌着顯著的股票回購和在即飲奶昔市場的穩固地位。然而，關於競爭加劇、預計 2026 年第一季度銷售下降以及通貨膨脹和關税的不利影響等問題引發了擔憂。</p>
</div><h2>Strong Fiscal Year 2025 Performance</h2>
<div class="lb-trans"><h2>強勁的 2025 財年表現</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 報告稱，2025 財年淨銷售額增長了 16%，調整後的 EBITDA 利潤率達到了 20.8%。公司從運營中產生了令人印象深刻的 2.61 億美元現金流，維持了 2.1 倍的淨槓桿比率，展示了其財務穩定性和運營效率。</p>
</div><h2>Record-Breaking Share Repurchases</h2>
<div class="lb-trans"><h2>創紀錄的股票回購</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>為了提升股東價值，BellRing Brands 回購了約 7% 的流通股，總計 4.73 億美元。公司在 10 月份繼續這一趨勢，回購了額外 4000 萬美元的股票，反映出對其長期增長前景的信心。</p>
</div><h2>Premier Protein’s Market Leadership</h2>
<div class="lb-trans"><h2>Premier Protein 的市場領導地位</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 的旗艦品牌 Premier Protein 在第四季度表現出市場領導地位，奶昔消費增長了 20%。該品牌在家庭滲透率和重複購買率方面保持領先地位，彰顯了其強大的消費者忠誠度和市場存在感。</p>
</div><h2>Innovation and Market Expansion</h2>
<div class="lb-trans"><h2>創新與市場擴展</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 正在通過推出杏仁奶昔和新的咖啡屋奶昔系列來擴展其產品線。這些創新旨在滿足對非乳製品和能量飲料日益增長的需求，使公司能夠吸引更廣泛的消費者羣體。</p>
</div><h2>Competitive Challenges and Market Dynamics</h2>
<div class="lb-trans"><h2>競爭挑戰與市場動態</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>即飲奶昔類別正面臨競爭加劇，新品牌不斷進入市場，市場動態發生變化。這導致了一些市場份額的變化，給 BellRing 維持其領導地位帶來了挑戰。</p>
</div><h2>Q1 2026 Forecasted Decline</h2>
<div class="lb-trans"><h2>預計 2026 年第一季度銷售下降</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 預計 2026 年第一季度淨銷售額將下降 5%，這歸因於俱樂部渠道的挑戰性比較以及缺乏以往的促銷活動。該預測突顯了在不斷變化的市場環境中進行戰略調整的必要性。</p>
</div><h2>Impact of Commodity Inflation and Tariffs</h2>
<div class="lb-trans"><h2>商品通貨膨脹和關税的影響</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>公司面臨來自商品通貨膨脹和關税的重大壓力，預計將導致 2026 財年調整後的 EBITDA 利潤率降至 18%。這些經濟因素給 BellRing 帶來了持續的挑戰，必須加以應對以維持盈利能力。</p>
</div><h2>Forward-Looking Guidance</h2>
<div class="lb-trans"><h2>前瞻性指導</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>展望未來，BellRing Brands 預計 2026 財年淨銷售額增長將達到 4% 至 8%，調整後的 EBITDA 利潤率預計在 18% 左右。公司仍致力於實現每年淨銷售額增長 7% 至 9% 以及調整後的 EBITDA 利潤率在 18% 至 20% 之間。計劃繼續投資於品牌支持和營銷，以推動這些目標的實現。</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>總之，BellRing Brands Inc Class A 的財報電話會議描繪了一家在財務成就和增長戰略方面表現強勁的公司。儘管面臨競爭和經濟挑戰，BellRing 對創新和市場擴展的承諾使其在未來成功的道路上具備良好定位。投資者將密切關注公司如何應對這些逆風，同時利用其市場優勢。</p>
</div>

BellRing Brands 財報電話會議：2025 年表現強勁，但挑戰依然存在