Looking back on beverages, alcohol, and tobacco stocks’ Q4 earnings, we examine this quarter’s best and worst performers, including Coca-Cola (NYSE: KO) 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 8.2% since the latest earnings results.

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. This print fell short of analysts’ expectations by 1.5%. Overall, it was a slower quarter for the company with a miss of analysts’ EBITDA estimates and a miss of analysts’ revenue estimates.

The market was likely pricing in the results, and the stock is flat since reporting. It currently trades at $78.04.

Is now the time to buy Coca-Cola? 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 scored 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 28% since reporting. It currently trades at $36.44.

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

Zevia (NYSE: ZVIA)

With a primary focus on soda but also a presence in energy drinks and teas, Zevia (NYSE: ZVIA) is a better-for-you beverage company.

Zevia reported revenues of $37.87 million, down 4% year on year, falling short of analysts’ expectations by 5.8%. It was a slower quarter as it posted full-year EBITDA guidance missing analysts’ expectations and a significant miss of analysts’ revenue estimates.

Zevia delivered the weakest performance against analyst estimates in the group. As expected, the stock is down 24% since the results and currently trades at $1.18.

Read our full analysis of Zevia’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 $29.34 billion, up 5.6% year on year. This print surpassed analysts’ expectations by 1.6%. Zooming out, it was a satisfactory quarter as it also produced an impressive beat of analysts’ EBITDA estimates but gross margin in line with analysts’ estimates.

The stock is up 1.2% since reporting and currently trades at $157.13.

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 $2.13 billion, up 17.6% year on year. This number beat analysts’ expectations by 4.6%. Aside from that, it was a mixed quarter as it also logged an impressive beat of analysts’ revenue estimates but a significant miss of analysts’ EBITDA estimates.

The stock is down 11.7% since reporting and currently trades at $76.50.

Read our full, actionable report on Monster 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 5 Growth Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.