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BellRing Brands Inc. (BRBR-1.47%) has submitted its 10-Q filing for the quarterly period ended December 31, 2024.
The filing reports net sales of $532.9 million for the quarter, an increase from $430.4 million in the same period the previous year. The growth was driven by increased sales of Premier Protein products, which rose by $96.0 million.
Operating profit for the quarter was $115.3 million, up from $73.0 million in the prior year period. The increase was attributed to higher net sales and lower amortization expenses.
Interest expense for the quarter was $14.4 million, slightly down from $14.9 million in the previous year. The effective income tax rate was 23.8%, compared to 24.4% in the prior year period.
Net earnings for the quarter were reported at $76.9 million, an increase from $43.9 million in the previous year.
Cash provided by operating activities was $3.0 million, a decrease from $74.2 million in the same period last year. This was mainly due to increased inventory levels and higher tax payments.
During the quarter, BellRing Brands repurchased 0.1 million shares of its common stock at an average price of $77.12 per share, totaling $11.0 million.
The company maintains a revolving credit facility with an available borrowing capacity of $250.0 million, with no outstanding borrowings as of December 31, 2024.
BellRing Brands continues to face legal proceedings, including the Joint Juice litigation and the Protein Products Class Lawsuit, but does not anticipate these will have a material adverse effect on its financial condition.
The company is evaluating the impact of recently issued accounting standards, which are expected to affect future financial statements.
BellRing Brands does not foresee any significant capital expenditures in the near future and expects to generate positive cash flows from operations to meet its financial obligations.
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. quarterly 10-Q report dated February 4, 2025. To report an error, please email earnings@qz.com.