The barrage of shows, conferences and breaking news has kept us scrambling to keep up with flow of earnings reports from legion of bevcos that are publicly traded these days. Here are capsules on a few that we didn't get to, with more to come in upcoming issues.

Flow Beverage, which has been rebuilding its board of directors, announced two additions that it believes will advance its "strategic transformation into a more streamlined operating model that is sharply focused on the Flow brand and profitable growth," in words of founder, chmn & ceo Nicholas Reichenbach. Joining deliberative body are CPG vets Stephen Smith and Michael Lines, with Smith to chair Audit Committee and Lines the Governance, Human Resources & Compensation Committee. Smith has served in top finance roles at Loblaw and as co-ceo and cfo of Cara Operations (now Recipes Unlimited). Lines, boasting 27 years in natural and conventional CPG, is founder/prexy of Simply Protein marketer Wellness Natural Inc. (Simply Protein). He'd served as Flow's vp/gm from 2015-17, period when it entered US from Canada base . . . Engaged Capital seems to be resting easy with its investment of past 6 years in altmilk producer SunOpta: its senior analyst Ken Kempf has decided to step down as of Dec 30 "to focus on other business investments," per announcement. He'd joined board in Jun 2022 and served on audit and comp committees. "SunOpta has been a terrific investment for Engaged Capital," said Engaged founder/chief investment officer Glenn Welling. "We are proud to have played a role in the Company's evolution, including Ken's participation as a member of the Board. We remain a significant shareholder and we are confident the business is well-positioned to continue to create shareholder value." Tho still considerably off from Feb 2021 high, shares have doubled since Mar.

Concerns about entry of non-alc players into alc bevs, including potential to attract underage drinkers, so far mostly coming from within the industry, where competitive angles also in play. But public health voices may be clearing their throats, gearing up for further action. "We're already concerned about what the traditional alcohol industry is producing, and now we're concerned about a whole new set of products from a new market," chair of US Alcohol Policy Alliance, Alicia Sparks, told Pluribus News (new state-focused publication founded by set of vets from The Hill).

Emmi, the Swiss dairy giant that owns N Amer brands like Cypress Grove, Cowgirl Creamery and Emmi Roth, is merging its Jackson-Mitchell and Redwood Hill Farm & Creamery companies into new entity called Darey Brands. Running merged entity as managing dir/ceo is Bonnie Neulight, Del Monte vet who had just come off nearly 3-year run at functional plant bev marketer Rebbl. Why "Darey"? "Our founders were innovative pioneers in healthy eating and sustainable agriculture long before these ideas became center-stage movements," per statement from Bonnie. New name "is not only a play on words, but also a nod to our heritage and ethos. We proudly craft dairy that dares to be different."

At time co's frenetic pace of store openings and sales growth continues, coffee & energy retailer Dutch Bros prexy/ceo Joth Ricci took a chunk of responsibility off his plate by naming restaurant vet Christine Barone as prexy, starting early next year. She knows coffee biz by virtue of 6-year run at Starbucks before heading to ceo role at True Food Kitchen. She serves on Yelp board and on advisory board of Ninkasi Brewing, where Ricci has served as a director.

Two congresswomen from opposite coasts sent joint letter to TTB requesting that "new entrants into the alcohol industry - namely large soft drink corporations - comply with the same regulations that existing alcohol manufacturers, distributors, and retailers already abide by," per accompanying press release (tho letter dates back to last month). In their note, Linda T. Sánchez (D-CA) and Ann McLane Kuster (D-NH) ask for written replies on how TTB will ensure evenly enforced regulations to protect industry integrity. And while they commend TTB for "keeping pace with rapidly evolving developments" in alc bevs, the congresswomen add that should soft drink cos be allowed to sell both alc and NA products "in the same store, we would like to obtain a clear understanding how TTB plans to manage this complex regulatory situation."

Dollars Still +4% for 4 Wks

Striking share gains of subpremiums this fall even more pronounced in latest NielsenIQ data thru Nov 19. Subpremiums gained fully a half share of $$ for 4 weeks to 11.9. Avg price of subpremiums up $1.89, 11% per case. That's a far higher % than 7.7% avg price hike overall. Unprecedented simultaneous combo of 11% avg price hike and a bit of trade down led to likely biggest short-term subpremium share gains in decades. What's more, premium lights lost just 0.2 share and premiums 0.1 share. So all segments premium and below (almost 40 share of $$) gained share for 4 weeks.

"There is a pessimistic outlook throughout the industry," wrote NBWA chief economist Lester Jones, "heading into the final months of 2022." NBWA's Beer Purchaser's Index "shows a low reading" of 38, following 37 last mo. That's sixth straight month of readings below 50. Recall, "reading greater than 50 indicates the segment is expanding, while a reading below 50 indicates the segment is contracting." At-risk inventory is also now below 50, currently at 49. "Continuation" of both "lower BPI readings" and "low 'at risk' inventory are indicative of lower expected sales," wrote Lester, "following fall price increases, news of increasing layoffs and a general slowing of the US economy."