BellRing Brands, Inc.

Shares of BellRing Brands fell more than 30% on August 5, after the company narrowed its full-year guidance and reported weaker-than-expected earnings, citing higher promotional spending, input cost inflation, and a legal provision. The drop follows a prior selloff in May, when BellRing reaffirmed its full-year guidance but disclosed that key retailers had been reducing their inventory levels, which was expected to weigh on Q3 shipments. Despite projecting strong demand and distribution growth, the company’s May 5 after-hours update raised concerns that recent sales strength may have been driven by short-term restocking rather than sustained consumption. Block & Leviton is investigating the company's disclosures.