Bellring Brands LLCBellRing Brands missed revenue estimates and issued full-year EBITDA guidance below expectations.
The 17 shelf-stable food stocks tracked reported mixed first-quarter results, with revenues in line with analysts' consensus estimates but next quarter's revenue guidance 11.6% below expectations. Kraft Heinz reported revenues of $6.05 billion, flat year on year and exceeding analysts' expectations by 2.5%, though it missed organic revenue estimates. Hershey posted the best performance with revenues of $3.10 billion, up 10.6% year on year and beating estimates by 2.4%, while BellRing Brands had the weakest quarter with revenues of $598.7 million, up 1.8% year on year but missing estimates by 1.7% and issuing full-year EBITDA guidance below expectations. Other companies such as The Marzetti Company and Post also reported mixed results, with Marzetti's revenues flat at $451.8 million and Post's revenues up 4.7% to $2.04 billion, both missing some analyst estimates. On average, share prices of these companies are down 5.2% since the latest earnings results.
Bellring Brands LLCBellRing Brands missed revenue estimates and issued full-year EBITDA guidance below expectations.
Hershey CoHershey posted strong revenue growth of 10.6% year on year, beating estimates by 2.4%.
The Kraft Heinz CompanyKraft Heinz revenues were flat year on year and exceeded expectations by 2.5%, but missed organic revenue estimates.
The Marzetti CompanyMarzetti's revenues were flat at $451.8 million, missing some analyst estimates.
Post Holdings IncPost's revenues up 4.7% to $2.04 billion, but missed some analyst estimates.