thank first very same and all joining year half for Jennifer, the up Thanks, you line expectation, shaping in in manner. much quarter morning. with and with is Good the us. The our started the
the second half. the will dip in Our and expectation accelerate first QX EBITDA versus remains in will half that
share our I review will some color additional regarding business, expectations. As briefly the I
supply was a however, it constraints. business solid cereal hampered had U.S. Our quarter, by
suppressed December building. butter resulted also Creek of absenteeism, shortage. During Honeycomb one the temporarily to required facility and suspend November Production products. in highly was This production on Grape-Nuts peanut for Battle publicized us our and COVID
restore $XX we and inventory has spring demand levels. learnings it was full Longer effectiveness and and approximately COVID first and respectively. our We quarter to production impact supply marries efficiency. planning million, plan. [ph] will revenue We production, testing the lost million improve to with The through constructive surges the and $X but of are emerge pressures estimate to revealed early supply and term, are back EBITDA we improved These in which demand COVID are from processes. expect chain can adjusted
the experience. While from at across company most improving supply pronounced Consumer learning Post the Brands, and chains are
we For some more sought time, cereal have innovation. category fundamental
am great efforts. I has two in Premier limited heritage our launched our with strength great with launch distribution. combines protein. cereal cereal tasting cautiously about delivers While optimistic of protein, high and our quite we cereal believe and protein with early, success competence at This
iconic pipeline will dayparts. leverage the the Weetabix category brands products intriguing in soon an U.S., our have continues innovation Similar have COVID perform to Second, well. exceptionally which Weetabix and more category. has the share we snacking growing that rapidly we to launched into introduce. has we helped gained
weak growth rapid a turned platform, a the side Meanwhile, in solid Volume with dollars branded Evans Our XX%. dish its increasing retail continues over by also quarter grew business year. cheese last increasing core our refrigerated egg Bob remains XX%. volumes consumption business XX% our business. The healthy spot
volume. margins. pressured ready-to-drink call. than delays core its commodity gross to rapidly The a BellRing expected a in addition continues will from co-packer Transportation In costs business volatility, resulted separate be production and price sales accelerated to holding franchise. lost faster grow
in the growing We expect to margin mitigate is Further, are Dymatize excited we QX. to that too pressure share nicely.
supply Avenue, the Like full is peanut several constraint. recent we its categories, of year. In be BellRing seen to reaffirmed trends. encouraged our have You continue for Xth butter will guidance by
and looking had active that We leaves be also encouraging the is an expect burden. which of to there of borne quarter to Xth its the and loosening increased near brunt COVID restrictions. portfolio. foodservice COVID a We the That add correlation our more between demand in has to Avenue perfect
in across demand the remains than Therefore, markets reverses volume is restrictions of decline. EBITDA late entering has the quarter, that to tightened weak. non-contracted QX demand, capacity in it the in more an many expected Category not early QX. that expanded. reduced linear As the key pressured generally expectation the Because with country decline pricing
modestly declined. with reverse has recovery. In will fact, this demand expect Therefore, it we
Finally, what into has turned costs. up rather commodity the quarter of beginning the in saw a substantial run
change there a model increase, pricing cost pass-through pricing this. is captures change. speak more the lag the about between Our and but this will Jeff
recovery, terms of channels business remain travel. possible with highly of exception across the the In we confident
We recovery other and expect lag to business segments. travel
been to summarize, its have the allocation, demand in timing in we a of remain on confidence but So the recovery growing quite recovery. profitability, and active. have trying implication cautious estimate to respect capital With to we we full
were into we in and quarter, aggressive continuing quarter shares. second This the repurchasing
also acquisitions We that Both to highly have expect two be accretive. closed. we since tuck-in announced
and second opportunities decline to want the I with planned. some deliver first to close gave there pipeline. our be mentioned implied to half quarter, last expect quarter pandemic it. available an started, to outlook. and from I since first As We interesting sequential was and than on outlook The in more continue seems we the comments have November on
are; the And assumes restrictions two during as quarter of second, marketing in QX half second spent, dip of timing would normal expect the a fluctuations second quarterly The the in result tighter being point to COVID pricing planning a more the drivers results cadence the We this with promoted the key to winter materially outperform months. the its slow and foodservice materially half our continue first, half. of Bellring’s second profitable. first
short-term rollout quarters we and planning expectations, improvement in consistent improvement to expect our with then even favorable to more to The and sufficient hope the of rollout the We to the we additional In The each with type second we short-term assumptions. to with Jeff. vaccine when prices we will becomes drive call but be. meet more is our the material I clarity and this volatility. for the increase exceeded closing, weather of rapid we our for this expect half four. grain material half first have the the specific more provide entirely with limited targets turn quarter, along to will vaccine announce intend three of effective the With we expect plan conservativism second allow to over guidance. that, Again,
