Quarterly earnings reports from publicly traded beverage giants are coming thick and fast this week, starting with protein powerhouse BellRing Brands and veteran-owned coffee company Black Rifle Coffee. Protein is everything these days, and that’s OK if you’re Premier Protein maker BellRing Brands. The ready-to-drink protein category leader enjoyed solid growth in FY Q3, though tariff headwinds and a narrowed guidance may be cause for concern. BellRing’s flagship ready-to-drink line grew its consumption rate 19% in the quarter, with over half that growth coming from increased volume (+3%). The brand hit an all-time high of 21% household penetration, and sold a reported 36 shakes every second – not a metric we typically use to measure performance, but sure. That outsized performance has made Premier Protein even more valuable to the total portfolio, and BellRing has responded by providing the brand with refreshed logo and packaging, its first-ever plant-based line, and dedicated marketing campaign launched earlier this year. Next on the docket: Expanding promotional displays and demos as the brand starts “aggressively pursuing merchandising in our IO and through the store,” said CEO/President Darcy Horn Davenport. That being said, the company has emerged from the quarter somewhat guarded, narrowing its full-year net sales outlook and warning about incoming headwinds from tariffs on whey protein imported from New Zealand and the European Union (EU), both of which are now subject to 15% tariffs. For more on distribution strategy and why single-serve bottles will be a “big focus next year,” read the full story on BevNET. Meanwhile, one of coffee’s fastest-rising players is still growing, but not enough to outpace losses. Despite double-digit net revenue growth for its wholesale business, Black Rifle’s profits misfired in Q2 amid rising coffee prices, declining ecommerce and other expenses. Total net revenue was up 6.5% to $94.8 million in the quarter and wholesale was up 14.1% to $61.3 million, with ACV on its packaged and RTD coffees enjoying a big expansion. But coffee inflation, marketing investment and DTC struggles resulted in a steep 13.7% decline in gross profits and a net loss of $14.5 million – a much harder hit compared to the $1.4 million loss in Q2 2024. Still, Black Rifle is trying to keep its eye on the target: CEO Chris Mondzelewski said that a large runway and the strong sales improvements are signs that the company is moving in the right direction, especially as it prepares to scale its KDP-distributed Black Rifle Energy line nationwide. Insiders can get the full story on BevNET. | 
