BellRing Brands Announces New Share Repurchase Authorization of $50 Million

Rhea-AI Summary

BellRing Brands (NYSE:BRBR) has authorized a new $50 million share repurchase program, commencing December 5, 2022. This follows approximately $45 million in repurchases made under a prior program. The company will execute repurchases on the open market and through various methods, although it retains the discretion to pause or halt these repurchases at any time. Influencing factors include liquidity, stock prices, and market conditions. This initiative reflects BellRing's confidence in enhancing shareholder value while managing financial strategies amid market uncertainties.

Positive

• Authorization of $50 million share repurchase program, enhancing shareholder value.
• Previous $50 million buyback nearly completed, indicating confidence in financial health.

Negative

• Repurchase program may be limited by liquidity and market conditions.
• No obligation for specific share acquisition could lead to uncertainty for investors.

ST. LOUIS, Dec. 05, 2022 (GLOBE NEWSWIRE) -- BellRing Brands, Inc. (NYSE:BRBR) today announced its Board of Directors has approved a new $50 million share repurchase authorization, with share repurchases under the new authorization beginning on December 5, 2022. As of December 5, 2022, BellRing had repurchased approximately $45 million under its previous $50 million share repurchase authorization.

Repurchases may be made from time to time in the open market, private purchases, through forward, derivative, alternative, accelerated repurchase or automatic purchase transactions, or otherwise. The authorization does not, however, obligate BellRing to acquire any particular amount of shares, and repurchases may be suspended or terminated at any time at BellRing’s discretion. The amount and timing of repurchases are subject to a variety of factors including liquidity, share price, market conditions and legal requirements.

Cautionary Statement on Forward-Looking Language

Forward-looking statements, within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended, are made in this press release. These forward-looking statements are sometimes identified from the use of forward-looking words such as “believe,” “should,” “could,” “potential,” “continue,” “expect,” “project,” “estimate,” “predict,” “anticipate,” “aim,” “intend,” “plan,” “forecast,” “target,” “is likely,” “will,” “can,” “may” or “would” or the negative of these terms or similar expressions elsewhere in this press release. All forward-looking statements are subject to a number of important factors, risks, uncertainties and assumptions that could cause actual results to differ materially from those described in any forward-looking statements. These factors and risks include, but are not limited to, unanticipated developments that prevent, delay or negatively impact the repurchases, the rapidly changing situation related to the COVID-19 pandemic and other financial, operational and legal risks and uncertainties detailed from time to time in BellRing’s cautionary statements contained in its filings with the Securities and Exchange Commission. These forward-looking statements represent BellRing’s judgment as of the date of this press release. BellRing disclaims, however, any intent or obligation to update these forward-looking statements.

About BellRing Brands, Inc.

BellRing Brands, Inc. is a rapidly growing leader in the global convenient nutrition category offering ready-to-drink shake and powder protein products. Its primary brands, Premier Protein^® and Dymatize^®, appeal to a broad range of consumers and are distributed across a diverse network of channels including club, food, drug, mass, eCommerce, specialty and convenience. BellRing’s commitment to consumers is to strive to make highly effective products that deliver best-in-class nutritionals and superior taste. For more information, visit www.bellring.com.

Contact:
Investor Relations
Jennifer Meyer
jennifer.meyer@bellringbrands.com
(314) 644-7665

FAQ

What is the purpose of BellRing Brands' new $50 million share repurchase program?

The purpose is to enhance shareholder value and manage the company's financial strategies effectively.

When did BellRing Brands start its new share repurchase program?

The new share repurchase program began on December 5, 2022.

How much has BellRing Brands repurchased under its previous authorization?

As of December 5, 2022, BellRing repurchased approximately $45 million under its previous $50 million authorization.

What factors may affect BellRing Brands' share repurchase timing?

Factors include liquidity, share price, market conditions, and legal requirements.

What risks are associated with BellRing Brands' share buyback announcements?

Risks include unanticipated developments that may delay or impact repurchases, and changing market conditions.