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BellRing Brands Inc. (BRBR-1.71%) has filed its 10-K filing for the fiscal year ended September 30, 2024.
The filing reports net sales of $1,996.2 million, an increase from $1,666.8 million in the previous year, driven by higher volumes and increased promotional activity for Premier Protein products.
Operating profit increased to $387.7 million from $287.3 million, primarily due to higher net sales and lower net product costs, partially offset by increased employee-related and advertising expenses.
Interest expense decreased to $58.3 million from $66.9 million, attributed to lower borrowings under the Revolving Credit Facility.
Net earnings available to common stockholders rose to $246.5 million from $165.5 million, with an effective income tax rate of 25.2% compared to 24.9% in the prior year.
The company reported cash provided by operating activities of $199.6 million, a decrease from $215.6 million in the previous year, due to increased inventory and receivable levels.
BellRing Brands repurchased 2.6 million shares of its common stock during the fiscal year at an average price of $56.12 per share.
Capital expenditures remained consistent at $1.8 million, and the company plans no significant capital expenditures for fiscal 2025.
BellRing Brands maintains a $250 million revolving credit facility with no outstanding borrowings as of September 30, 2024.
The filing includes details of ongoing legal proceedings, including the Joint Juice litigation, with an estimated liability of $21 million related to these matters.
BellRing Brands operates in the global convenient nutrition category, with primary brands Premier Protein and Dymatize, and continues to focus on expanding market penetration and product offerings.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the BellRing Brands Inc. annual 10-K report dated November 19, 2024. To report an error, please email earnings@qz.com.