Reports Q1 revenue $430.4M, consensus $412.5M. “Our first quarter performance was strong, coming in ahead of our expectations as we continued to ramp up our shake supply and began to drive demand. Premier Protein drove the outperformance as some customers chose to improve trade inventories as they headed into the ‘New Year, New You’ season that started in our second quarter. Premier Protein shake consumption growth remained robust this quarter, lifted by strong velocities and modest incremental promotional activity. Dymatize and Premier Protein powder businesses experienced strong consumption growth behind organic momentum and distribution gains,” said Darcy H. Davenport, CEO. “Our second new greenfield co-manufacturing facility came online and overall shake capacity expansion is on track. Our strong start to 2024 gives us greater confidence in the full year and drives our decision to raise our outlook.”
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