However, despite those challenges, we still expect to deliver double digit net sales growth for the year. endstream endobj 159 0 obj <. So maybe just first point of clarification, do you feel very comfortable with the line of sight you have on distribution gains going into fall? Great, I'll leave everything for later. I continue to have confidence in our brand fundamentals and I am energized by the business momentum, expanded distribution, innovation pipeline and our long runway for growth. And what we're seeing is some new trends around food as medicine or proactive health and not as really benefiting the adult nutrition side of our business. [Operator Instructions] Our first question comes from a lot of Andrew Lazar of Barclays. So a couple things happened, so we actually this last quarter because of – so those moved to Q4 and actually into Q1, but what changed in this quarter is we actually ended up doing an incremental promotion because in our Club accounts, mainly because our Club accounts saw the decline in category and we were their first call. Notable Dividend: Unable to evaluate BRBR's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts. Now to our growth strategies, strong marketing programs continue to be drivers for the brand. On the '21 question, we saw this year as really – this was our first year with television advertising. “E-commerce remains a large opportunity for us across all of our brands,” the company said. Darcy Horn Davenport has been named president and chief executive officer of BellRing Brands, which will be headquartered in St. Louis. ROLE OF THE BOARD OF DIRECTORS. have bought more shares than they have sold in the past 3 months. I wanted to dig in a little bit more toward guidance. Reproduction of S&P Capital IQ in any form is prohibited except with the prior written permission of S&P. We anticipated strong growth for these channels in the second half and the brand continues to gain distribution in FDM and Club while consistently delivering double digit growth within ecommerce. Now to our other brands, Dymatize's domestic business had a good quarter at 9% led by Club and ecommerce. BRBR is trading below fair value by more than 20%. Is that not the case? So we've adjusted our communication strategy, we did it right away to focus more about using our products and recipes which has always been very successful on social. Adjusted EBITDA for the quarter was 38.5 million, a decrease of 37.1% with an adjusted EBITDA margin of 18.9%.