BellRing Brands, Inc.

Thank you for standing by and welcome to Bell Ring Brands' third quarter, fiscal year 2026 earnings conference call. Currently, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you will need to press star 1-1 on your telephone. To remove yourself from the queue, you may press star 1-1 again. I would now like to hand the call over to Jennifer Meyer, Investor Relations for Bell Ring Brands. Please go ahead.

Good morning and thank you for joining us today for Bell Ring Brands' third quarter fiscal 2026 earnings call. With me today are Mike Axelrod, our President and CEO, and Paul Rode, our CFO. Mike and Paul will begin with prepared remarks and afterwards we'll have a brief question and answer session. The press release and supplemental slide presentation that support these remarks are posted on our website and both the investor relations and the SEC filing sections at bellring.com. In addition, the release and slides are available on the SEC's website. Before we continue, I would like to remind you that this call will contain forward-looking statements which are subject to risks and uncertainties that should be carefully considered by investors as actual results could differ materially from these statements. These forward-looking statements are current as of the date of this call, and management undertakes no obligation to update these statements. As a reminder, this call is being recorded, and an audio replay will be available on our website. And finally, this call will discuss certain non-GAAP measures. For reconciliation of these non-GAAP measures to the nearest GAAP measure, see our press release issued this morning and posted on our website. With that, I will turn the call over to Mike.

Thank you, Jennifer, and good morning, everyone. Thank you for joining our third quarter earnings call. I'm excited and honored to lead Bell Ring, and I'm grateful to the board, executive leadership team, and colleagues across the company for the very warm welcome. As it's my seventh day at the company, I'll start the call with introductory remarks and then pass it on to Paul to cover our third quarter performance and outlook for the remainder of fiscal 2026. I joined Bell Ring after 30 years in the consumer packaged goods industry across both entrepreneurial and large-scale businesses. Throughout my career, I've had the opportunity to grow businesses profitably by strengthening execution, improving operations, and speed to market, and investing behind strong brands. What attracted me to Bellring was the combination of an attractive category with a long runway for Groom, the market-leading premier protein brand, and a meaningful opportunity to improve execution. I've built my career by putting the consumer first, building strong customer partnerships, and creating value through disciplined execution, and I see many of these same opportunities here. Encouragingly, consumer demand for ready-to-drink protein shakes remains strong and the category among the fastest growing in CPG. We continue to believe there is substantial runway for growth supported by long-term health and wellness trends. While competition has increased, that is exactly what you would expect in an attractive growing category. Creamer remains the category leader Consumer Trends improved every quarter this year, and we continue to see considerable opportunities to better realize the full potential of the business. These category and brand strengths give me confidence that our current financial performance, which has been affected by some transitory factors, does not reflect the long-term potential of the business. As the categories become more dynamic and competitive, winning requires greater operational discipline, faster decision-making, and new capabilities. Well, we've done many things well. We have not executed consistently at the level we expect ourselves. We are not satisfied with our financial performance. As Paul will discuss, actions are already underway to put the business on a healthier footing, but I believe there's considerable more opportunity ahead. I believe in building winning teams that are highly accountable, customer-focused, and data-driven. Over the coming months, I'll spend time listening to our employees, customers, and partners Identifying opportunities to improve and empowering our teams to make thoughtful decisions and drive accountability across the organization. There are certainly near-term challenges to work through, but I believe they are manageable, and I see meaningful opportunities to improve performance and better translate our category leadership into more consistent, profitable growth over time. In closing, I believe Bell Ring's top and bottom-line growth opportunity remains compelling. My commitment is straightforward. move with urgency, execute with discipline, and create long-term value for our shareholders. I look forward to speaking with you again on our fourth quarter earnings call to share more about my strategic priorities, operating plans to create long-term shareholder value, and our 2027 guidance. I'll now turn it over to Paul to talk through the quarter and our updated outlook.