Coca-Cola is showing financial improvement as it seeks to streamline operations and product portfolios to combat the impact of the global pandemic. Revenue slid nine percent to $8.7 billion, worse than the $8.4 billion predicted by Wall Street. Still, it was better than the 28 percent revenue drop in the second quarter. Net income was $1.7 billion. Earnings, adjusted for one-time items, fell two percent to 55 cents a share, a number that beat analyst forecasts of 46 cents. Coke’s performance has been damaged by the closure of arenas, restaurants, theaters, and other public places where it books about half of its revenue. Soda fountains at such venues normally make up 30 percent of Coke’s U.S. sales, for example.

The pandemic has not dampened Brazilian coffee exports, according to the Brazil Specialty Coffee Association. July shipments totaled three million bags, accounting for $117.4 million in revenue, despite the impact of the coronavirus pandemic on economies, individual businesses, and borders. In September, shipments rose to 3.8 million bags, up 8.6 percent over a year ago. The biggest market for coffee exports are the U.S., Germany, Belgium, Italy, and Japan. [Image Credit: © ExplorerBob from Pixabay]

The Florida-based soft drinks company, maker of the LaCroix line of flavored seltzers, reported an 11.3 percent rise in fiscal first-quarter sales to $293.4 million, thanks in large part to lockdowns in Canada and the U.S. prompted by the coronavirus pandemic. The company said volumes in the three months ending at the end of July were up 12.3 percent. First-quarter volumes of the group's Power+ brands, including LaCroix as well as the Mr Pure juice and Rip It energy drink brands, were up 15.7 percent. The company's carbonated soft drink lines were up by a lesser 5.1 percent.[Image Credit: © National Beverage Corp.]

Half-year revenues were $4.58 billion, thanks to a drop off in second quarter revenue due to lockdowns and restrictions on gatherings across its markets. The impact on its financial results was “substantial:” operating profit fell 10.8 percent to $734 million. Approximately 25 percent of the brewer’s volumes are sold in the on-trade channel. In the six months ended 30 June, Carlsberg’s beer volumes declined organically by 6.7 percent, while its nonbeer volumes fell by 12.9 percent. In addition to COVID-19 impact, non-beer volumes were impacted by the lower sales of soft drinks at the German/Danish border.[Image Credit: © Carlsberg Breweries A/S]

After the company’s European operations posted a pandemic-related 11 percent drop in 2nd quarter sales, and a 20 percent slide in volumes, the company said it is consolidating its two European businesses into one under the new name Asahi Europe International, headquartered in Prague. Sales and volumes were down because of the closure of bars and restaurants in many markets. Off-premise sales increased but not enough to offset on-premise losses. Despite signs of alate 2nd quarter recovery, second-half sales in Europe were expected to remain depressed by an estimated mid-single digits. Sales in Japan were even more badly-affected by the coronavirus, down 17 percent for the first half and 24 percent for the 2nd quarter.  The company also said it will consolidate Carlton United Breweries (CUB) into one Oceania hub from October comprising Asahi Lifestyle Beverages, Asahi Premium Beverages, CUB, and Asahi Beverages New Zealand.[Image Credit: © Asahi Group Holdings, Ltd.]

The Tokyo-based beverage company said the coronavirus pandemic had dampened global beer sales, especially at bars and restaurants. Asahi forecast a 38 percent drop in annual operating profit to 124 billion yen ($1.17 billion). Analysts on average had expected 164 billion yen ($1.54 billion). For the six months through June, operating profit fell 49 percent to 45 billion yen ($423 million) as beer drinkers around the world stayed away from bars.[Image Credit: © Asahi Group Holdings, Ltd]