Let’s dig into the relative performance of Coca-Cola (NYSE: KO) and its peers as we unravel the now-completed Q3 beverages, alcohol, and tobacco earnings season.

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 14 beverages, alcohol, and tobacco stocks we track reported a strong Q3. As a group, revenues beat analysts’ consensus estimates by 2.4% while next quarter’s revenue guidance was in line.

In light of this news, share prices of the companies have held steady as they are up 4.8% on average since the latest earnings results.

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 $12.41 billion, up 3.9% year on year. This print was in line with analysts’ expectations, and overall, it was a satisfactory quarter for the company with an impressive beat of analysts’ organic revenue estimates.

Interestingly, the stock is up 4.7% since reporting and currently trades at $71.79.

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

Best Q3: 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 $725.1 million, up 173% year on year, outperforming analysts’ expectations by 1.2%. The business had an exceptional quarter with a beat of analysts’ EPS estimates and an impressive beat of analysts’ EBITDA estimates.

Celsius scored the fastest revenue growth among its peers. Although it had a fine quarter compared its peers, the market seems unhappy with the results as the stock is down 8.9% since reporting. It currently trades at $55.23.

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

Weakest Q3: Altria (NYSE: MO)

Best known for its Marlboro brand of cigarettes, Altria (NYSE: MO) offers tobacco and nicotine products.

Altria reported revenues of $5.25 billion, down 1.7% year on year, falling short of analysts’ expectations by 1.3%. It was a slower quarter as it posted a significant miss of analysts’ gross margin estimates and a slight miss of analysts’ revenue estimates.

As expected, the stock is down 1.6% since the results and currently trades at $60.97.

Read our full analysis of Altria’s results here.

PepsiCo (NASDAQ: PEP)

With a history that goes back more than a century, PepsiCo (NASDAQ: PEP) is a household name in food and beverages today and best known for its flagship soda.

PepsiCo reported revenues of $23.94 billion, up 2.7% year on year. This number 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 slight miss of analysts’ organic revenue estimates.

The stock is up 4.3% since reporting and currently trades at $144.76.

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

Monster (NASDAQ: MNST)

Founded in 2002 as a natural soda and juice company, Monster Beverage (NASDAQ: MNST) is a pioneer of the energy drink category, and its Monster Energy brand targets a young, active demographic.

Monster reported revenues of $2.20 billion, up 16.8% year on year. This print surpassed analysts’ expectations by 4.3%. Overall, it was an exceptional quarter as it also logged a solid beat of analysts’ EBITDA estimates and a solid beat of analysts’ revenue estimates.

The stock is up 21.4% since reporting and currently trades at $80.52.

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

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