Spun off from post holdings, Bellring Brands primarily makes whey protein powder under dominant brand Premier Protein and Dymatize. If you recognize me ever here, you know I don't chase up, I chase down, so obviously something went wrong bc now it's in the thrift store where I shop.
No joke, one year ago this was 78 dollars. Today I yolo'd into 8.44. They had guided for 5 percent growth, now 0 to 2. Ebitda 320m down from 450 for the year. Gross margins 22 percent down from 35 percent a year ago. Not nice surprises. Costco is forcing a kinda price war in the near term.
But otoh.... This is way overdone. Theyve been buying back shares like crazy at 3x the price. The MC is down to a billy, with the remaining authorization of 500m they could retire half the float of 116m
This isn't an argument it should be 78 dollars. Like all my bets, there's a fallen angel aspect where it really is worth less than it was due to bad news. But I put this at 25 dollars easy. Nfa. Discuss.