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bellring Exhibit 99.1 BellRing Brands Reports Results for the Second Quarter of Fiscal Year 2021 ; Raises Fiscal Year 2021 Outlook St. Louis - May 6 , 2021 - BellRing Brands , Inc. ( NYSE : BRBR ) ( " BellRing " ) , a holding company operating in the global convenient nutrition category , today reported results for the second fiscal quarter ended March 31 , 2021 . Highlights : . Net sales of $ 282.1 million Operating profit of $ 15.6 million ; net earnings available to Class A common stockholders of $ 0.6 million ; Adjusted net earnings available to Class A common stockholders of $ 6.0 million and Adjusted EBITDA of $ 42.2 million Raised fiscal year 2021 net sales guidance to $ 1.17- $ 1.20 billion and Adjusted EBITDA ( non - GAAP ) guidance to $ 214- $ 220 million Second Quarter Operating Results Net sales were $ 282.1 million , an increase of 9.6 % , or $ 24.6 million , compared to the prior year period . Premier Protein net sales increased 8.2 % , with volumes up 7.4 % , and Premier Protein ready - to - drink ( " RTD " ) shake net sales increased 7.7 % , with volumes up 8.0 % . Premier Protein net sales benefited from RTD shake distribution gains for both existing and new products , planned incremental promotional activity and a favorable product and customer mix , which were partially offset by lapping an increase in customer trade inventory levels in the prior year period driven by consumer pantry - loading in reaction to the COVID - 19 pandemic . Dollar consumption of Premier Protein RTD shakes increased 20.3 % in the 13 - week period ended April 3 , 2021 as compared to the same period in 2020 ( inclusive of Nielsen Total US XAOC including Convenience and management estimates of untracked channels ) . Dymatize net sales increased 28.8 % , with volumes up 10.0 % , and benefited from distribution gains for both existing and new products with strong growth in the international , club , mass and eCommerce channels and a favorable product and customer mix . Net sales of all other products decreased 7.3 % . Gross profit was $ 87.0 million , or 30.8 % of net sales , a decrease of 1.4 % , or $ 1.2 million , compared to the prior year period gross profit of $ 88.2 million , or 34.3 % of net sales . The lower gross profit margin was driven by higher input costs ( predominantly milk - based proteins and freight for RTD shakes ) and planned incremental promotional activity . Selling , general and administrative ( " SG & A " ) expenses were $ 48.2 million , or 17.1 % of net sales , an increase of $ 0.7 million compared to the prior year period SG & A expenses of $ 47.5 million , or 18.4 % of net sales . SG & A expenses in the second quarter of 2021 included $ 2.2 million of higher marketing and consumer advertising expenses and $ 0.7 million of restructuring and facility closure costs , which were partially offset by $ 0.3 million of lower costs related to BellRing's separation from Post Holdings , Inc. ( " Post " ) . Restructuring and facility closure costs and separation costs were treated as adjustments for non - GAAP measures . Operating profit was $ 15.6 million , a decrease of 55.6 % , or $ 19.5 million , compared to the prior year period operating profit of $ 35.1 million , and was negatively impacted by $ 17.7 million of accelerated amortization , which is discussed later in this release and was treated as an adjustment for non - GAAP measures . Interest expense , net was $ 11.3 million , compared to $ 14.3 million in the prior year period , with the decrease primarily driven by a reduction in the aggregate principal amount of debt outstanding . Loss on refinancing of debt of $ 1.5 million was recorded in the second quarter of 2021 in connection with an opportunistic repricing of BellRing Brands , LLC's ( " BellRing LLC " ) term loan in February 2021 and was treated as an adjustment for non - GAAP measures . Income tax expense was $ 0.3 million , an effective income tax rate of 10.7 % , compared to $ 2.2 million in the prior year period , an effective income tax rate of 10.6 % . In both periods , the effective income tax rate differed significantly from the statutory rate primarily as a result of taking into account for U.S. federal , state and local income tax purposes a 28.8 % distributive share of the items of income , gain , loss and deduction of BellRing LLC . 1