🔔 Earnings Week: Black Rifle, Zevia, SunOpta, Laird

It’s earnings season folks. The numbers are rolling in, stacking up and, for others, sliding down. Let’s take a look at how Black Rifle, Zevia, SunOpta and Laird performed this past quarter.

☕ Black Rifle reported a robust 51% y/y wholesale growth in the Food, Drug and Mass (FDM) market, despite softening performance from its brick-and-mortar cafes during Q1 2024.

• Net revenue grew 18% to $98.4 million, primarily driven by the strong wholesale performance.
• DTC revenue dropped 11.4% to $32.6 million in the first quarter.
• Revenue from BRCC “Outposts” (on-premise cafés) slid 19.4% to $5.4 million.
• Gross margin was 42.9%, driven by a shift in product mix, productivity improvements in ready-to-drink (RTD) products, decreasing warehousing costs, and lower green coffee costs.

BevNET Insiders can access the full recap and exclusive insights on Zevia, SunOpta and Laird's Q1 performance.

The popularity of flavored beers is on the rise. From fruity sour beers to barrel-aged stouts, the flavor choices are wide-ranging. And, if you have questions about creating a successful and delicious new brewery product, the Product Development team at Allen Flavors has the answers you need. Learn more

Once relegated to the supplement shelves, ketone-enhanced beverages are starting to make their way into specialty retail and independent convenience stores. Though the keto diet heyday may have waned, ketone drinks are trying a plethora of come-ons to get consumers to pick up these functional drinks

⚡ Tapping buzzy retail opportunities in Erewhon in California and Equinox fitness centers in New York, KEY is looking to sit “as close to Celsius” as possible and shave off some market share from better-for-you energy.

🎶 As festival season gets roaring this summer, Holy Water is tapping into the trend of alcohol reduction and alternatives with its ketone and functional mushroom-infused drinks.

💪 Brands like KetoneAid, Kenetik and KetoneIQ are still positioning towards athletic enhancement with an eye towards product innovation and format to bring more consumers under the functional umbrella.

BevNET Insiders can read the full story and learn how this functional beverage subset is raising consumer awareness.

The CPG Week team gathers all in-person for the first time ever first, to taste some ketone beverages, and then to talk about the slew of M&A activity seen throughout the CPG industry in recent weeks. 

🥕 Senior reporter Lukas Southard kicks it off with a deep dive into Bolthouse Farms’ decision to split its agriculture business from its CPG brands as it frees up debt to eye new acquisitions.

💪🏾 The team talks about Our Home’s most recent addition to its better-for-you snack brand portfolio and why manufacturing capacity is becoming a theme in CPG.

🏭 Did you say manufacturing? Senior reporter Brad Avery walks the team through his reporting on the merger of two snack bar makers and why brands are still selling high on protein.

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