BellRing Brands, Inc. (NYSE:BRBR) Q3 2024 Earnings Conference Call August 6, 2024 9:00 AM ET

Company Participants

Jennifer Meyer - Investor Relations
Darcy Davenport - President & Chief Executive Officer
Paul Rode - Chief Financial Officer

Conference Call Participants

Andrew Lazar - Barclays
Ken Goldman - JPMorgan
Thomas Palmer - Citi
Brian Holland - D.A. Davidson
Robert Moskow - TD Cowen
David Palmer - Evercore ISI
Jim Salera - Stephens
Jon Andersen - William Blair
Bill Chappell - Truist Securities
John Baumgartner - Mizuho Securities

Operator

Hello, thank you for standing by. Welcome to BellRing Brands' Third Quarter Fiscal Year 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions]

I would now like to turn the call over to Jennifer Meyer of Investor Relations for BellRing Brands. You may begin.

Jennifer Meyer

Good morning, and thank you for joining us today for BellRing Brands' third quarter fiscal 2024 earnings call. With me today are Darcy Davenport, our President and CEO, and Paul Rode, our CFO. Darcy and Paul will begin with prepared remarks, and afterwards, we'll have a brief question-and-answer session.

The press release and supplemental slide presentation that support these remarks are posted on our website in both the Investor Relations and the SEC filings section at bellring.com. In addition, the release and slides are available on the SEC's website.

Before we continue, I would like to remind you that this call will contain forward-looking statements, which are subject to risks and uncertainties that should be carefully considered by investors, as actual results could differ materially from these statements. These forward-looking statements are current as of the date of this call, and management undertakes no obligation to update these statements.

As a reminder, this call is being recorded, and an audio replay will be available on our website.

And finally this call will discuss certain non-GAAP measures. For a reconciliation of these non-GAAP measures to the nearest GAAP measure, see our press release issued yesterday and posted on our website.

With that, I will turn the call over to Darcy.

Darcy Davenport

Thanks, Jennifer, and thank you all for joining us this morning. I have four key messages today that I want you all to walk away with. The first, I'm happy to share that we have a strong quarter. The business continues to perform as we bring on new shape capacity and begin to drive demand. Net sales grew 16% over prior year and adjusted EBITDA, up 38%. We saw strength in Premier Protein with net sales up 20%. Our EBITDA margins were above our expectations as we benefited from favorable gross margins. I'm proud of our year-to-date performance with each quarter delivering above our long-term algorithm.