Earnings results often indicate what direction a company will take in the months ahead. With Q4 behind us, let’s have a look at Boston Beer (NYSE: SAM) and its peers.

These companies' performance is influenced by brand strength, marketing strategies, and shifts in consumer preferences. Changing consumption patterns are particularly relevant and can be seen in the rise of cannabis, craft beer, and vaping or the steady decline of soda and cigarettes. Companies that spend on innovation to meet consumers where they are with regards to trends can reap huge demand benefits while those who ignore trends can see stagnant volumes. Finally, with the advent of the social media, the cost of starting a brand from scratch is much lower, meaning that new entrants can chip away at the market shares of established players.

The 13 beverages, alcohol, and tobacco stocks we track reported a mixed Q4. As a group, revenues beat analysts’ consensus estimates by 2.1% while next quarter’s revenue guidance was in line.

Amidst this news, share prices of the companies have had a rough stretch. On average, they are down 8.3% since the latest earnings results.

Boston Beer (NYSE: SAM)

Known for its flavorful beverages challenging the status quo, Boston Beer (NYSE: SAM) is a pioneer in craft brewing and a symbol of American innovation in the alcoholic beverage industry.

Boston Beer reported revenues of $385.7 million, down 4.1% year on year. This print was in line with analysts’ expectations, and overall, it was a satisfactory quarter for the company with a solid beat of analysts’ EBITDA estimates but full-year EPS guidance missing analysts’ expectations.

“We were pleased to deliver on our financial commitments in 2025 while maintaining market share in a challenging operating environment,” said Chairman, Founder and CEO Jim Koch.

Interestingly, the stock is up 13.2% since reporting and currently trades at $257.44.

Is now the time to buy Boston Beer? Access our full analysis of the earnings results here, it’s free.

Best Q4: Celsius (NASDAQ: CELH)

With its proprietary MetaPlus formula as the basis for key products, Celsius (NASDAQ: CELH) offers energy drinks that feature natural ingredients to help in fitness and weight management.

Celsius reported revenues of $721.6 million, up 117% year on year, outperforming analysts’ expectations by 13.5%. The business had an exceptional quarter with a solid beat of analysts’ EBITDA and revenue estimates.

Celsius pulled off the biggest analyst estimates beat and fastest revenue growth among its peers. Although it had a fine quarter compared to its peers, the market seems unhappy with the results as the stock is down 31% since reporting. It currently trades at $34.92.

Is now the time to buy Celsius? Access our full analysis of the earnings results here, it’s free.

Weakest Q4: Coca-Cola (NYSE: KO)

A pioneer and behemoth in carbonated soft drinks, Coca-Cola (NYSE: KO) is a storied beverage company best known for its flagship soda.

Coca-Cola reported revenues of $11.82 billion, up 3.6% year on year, falling short of analysts’ expectations by 1.5%. It was a slower quarter as it posted a miss of analysts’ EBITDA estimates and a miss of analysts’ revenue estimates.

The stock is flat since the results and currently trades at $77.65.

Read our full analysis of Coca-Cola’s results here.

MGP Ingredients (NASDAQ: MGPI)

Headquartered in Atchison, Kansas, MGP Ingredients (NASDAQ: MGPI) is a leading supplier of high-quality ingredients to the food and beverage industry

MGP Ingredients reported revenues of $138.3 million, down 23.5% year on year. This number surpassed analysts’ expectations by 3.1%. More broadly, it was a mixed quarter as it also produced a solid beat of analysts’ EBITDA estimates but full-year revenue guidance missing analysts’ expectations significantly.

MGP Ingredients scored the highest full-year guidance raise but had the slowest revenue growth among its peers. The stock is down 27.2% since reporting and currently trades at $18.78.

Read our full, actionable report on MGP Ingredients here, it’s free.

Philip Morris (NYSE: PM)

Founded in 1847, Philip Morris International (NYSE: PM) manufactures and sells a wide range of tobacco and nicotine-containing products, including cigarettes, heated tobacco products, and oral nicotine pouches.

Philip Morris reported revenues of $10.36 billion, up 6.8% year on year. This print was in line with analysts’ expectations. Taking a step back, it was a mixed quarter as it also logged revenue in line with analysts’ estimates but a miss of analysts’ adjusted operating income estimates.

The stock is down 12.1% since reporting and currently trades at $159.99.

Read our full, actionable report on Philip Morris here, it’s free.

Market Update

Late in 2025 into early 2026, there was hand wringing around artificial intelligence. For software companies, the fear was that AI would erode pricing power and compress margins as new tools made it easier to replicate what once required expensive enterprise platforms. Crypto investors had their own version of the same anxiety: if AI agents could trade, allocate capital, and manage wallets autonomously, what exactly was the long-term value of today’s crypto infrastructure?

These concerns triggered a noticeable rotation away from these sectors and into safer havens. But markets rarely dwell on one narrative for long. Spring 2026 came, and the focus shifted abruptly from technological disruption to geopolitical risk. The US’ conflict with Iran became the dominant driver of market psychology, and when geopolitics takes center stage, the script changes quickly. Investors stop debating growth rates and start worrying about oil supply, inflation, and global stability.

Want to invest in winners with rock-solid fundamentals? Check out our Top 6 Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.