The end of the earnings season is always a good time to take a step back and see who shined (and who not so much). Let’s take a look at how beverages, alcohol, and tobacco stocks fared in Q3, starting with Brown-Forman (NYSE: BF.B).

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. On average, they are relatively unchanged since the latest earnings results.

Brown-Forman (NYSE: BF.B)

Best known for its Jack Daniel’s whiskey, Brown-Forman (NYSE: BF.B) is an alcoholic beverage company with a broad portfolio of brands in wines and spirits.

Brown-Forman reported revenues of $1.04 billion, down 5.4% year on year. This print exceeded analysts’ expectations by 1.7%. Despite the top-line beat, it was still a mixed quarter for the company with a decent beat of analysts’ revenue estimates but a miss of analysts’ EBITDA estimates.

Unsurprisingly, the stock is down 15.1% since reporting and currently trades at $25.80.

Read our full report on Brown-Forman 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 and EBITDA estimates.

Celsius delivered 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 15.5% since reporting. It currently trades at $51.24.

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 and revenue estimates.

As expected, the stock is down 9.8% since the results and currently trades at $55.92.

Read our full analysis of Altria’s results here.

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 number beat analysts’ expectations by 4.3%. It was an exceptional quarter as it also produced a solid beat of analysts’ EBITDA estimates and a solid beat of analysts’ revenue estimates.

The stock is up 15.5% since reporting and currently trades at $76.60.

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

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 $130.9 million, down 18.9% year on year. This result surpassed analysts’ expectations by 2.1%. Overall, it was a very strong quarter as it also put up a beat of analysts’ EPS and EBITDA estimates.

MGP Ingredients had the slowest revenue growth and weakest full-year guidance update among its peers. The stock is up 4.4% since reporting and currently trades at $24.71.

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

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