Bellring Brands LLCMissed estimates and issued disappointing full-year EBITDA guidance, causing shares to tumble 32.6%.
The shelf-stable food industry reported mixed first-quarter results, with The Marzetti Company falling short of expectations. Marzetti posted flat revenues of $451.8 million, missing analyst estimates by 2.6%, and also fell short on earnings per share and EBITDA. Among the 17 tracked companies, aggregate revenues met consensus, but next-quarter guidance came in 11.6% below expectations. Hershey was the top performer with revenue up 10.6% to $3.10 billion, while BellRing Brands was the weakest, with shares tumbling 32.6% after missing estimates and issuing disappointing full-year EBITDA guidance. Simply Good Foods also lagged, with revenue down 9.4% and a significant guidance miss, while Utz met revenue expectations and beat on EBITDA and operating income.
Bellring Brands LLCMissed estimates and issued disappointing full-year EBITDA guidance, causing shares to tumble 32.6%.
Hershey CoTop performer with revenue up 10.6% to $3.10 billion.
The Marzetti CompanyFlat revenues missed analyst estimates by 2.6%, and fell short on EPS and EBITDA.
Simply Good Foods CoRevenue down 9.4% with a significant guidance miss.
Utz Brands IncMet revenue expectations and beat on EBITDA and operating income.