Earnings results often indicate what direction a company will take in the months ahead. With Q2 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 explosion of alcoholic craft beer drinks or the steady decline of non-alcoholic sugary sodas. 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 12 beverages and alcohol stocks we track reported a mixed Q2. As a group, revenues were in line with analysts’ consensus estimates while next quarter’s revenue guidance was 13.1% below.

Valuation multiples for many growth stocks have not yet reverted to their early 2021 highs, but the market was optimistic at the end of 2023 due to cooling inflation. This year has been a different story as mixed inflation signals have led to market volatility. However, beverages and alcohol stocks have held steady amidst all this with share prices up 3.8% on average since the latest earnings results.

Slowest Q2: 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 $579.1 million, down 4% year on year. This print fell short of analysts’ expectations by 3.1%. Overall, it was a disappointing quarter for the company with a miss of analysts’ earnings estimates.

“I’m pleased to have completed my first quarter as Boston Beer’s CEO and believe there are many areas of opportunity ahead for the company,” said President and CEO Michael Spillane.

Interestingly, the stock is up 1.4% since reporting and currently trades at $274.42.

Read our full report on Boston Beer here, it’s free.

Best Q2: 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 $402 million, up 23.4% year on year, outperforming analysts’ expectations by 2.4%. The business had a very strong quarter with a solid beat of analysts’ gross margin estimates.

Celsius achieved 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 19.1% since reporting. It currently trades at $33.44.

Is now the time to buy Celsius? Access our full analysis of the earnings results 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 $1.90 billion, up 2.5% year on year, falling short of analysts’ expectations by 5.6%. It was a softer quarter as it posted a miss of analysts’ earnings estimates.

Monster delivered the weakest performance against analyst estimates in the group. The stock is flat since the results and currently trades at $50.53.

Read our full analysis of Monster’s results here.

Vita Coco (NASDAQ:COCO)

Founded in 2004 followed by a 2021 IPO, The Vita Coco Company (NASDAQ:COCO) offers coconut water products that are a natural way to quench thirst.

Vita Coco reported revenues of $144.1 million, up 3.2% year on year. This number met analysts’ expectations. Overall, it was a very strong quarter as it also put up an impressive beat of analysts’ gross margin estimates.

Vita Coco had the weakest full-year guidance update among its peers. The stock is up 3% since reporting and currently trades at $25.51.

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

Coca-Cola (NYSE:KO)

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

Coca-Cola reported revenues of $12.31 billion, up 2.9% year on year. This print topped analysts’ expectations by 4.8%. It was a very strong quarter as it also produced an impressive beat of analysts’ organic revenue growth estimates and a narrow beat of analysts’ operating margin estimates.

Coca-Cola achieved the biggest analyst estimates beat among its peers. The stock is up 11.1% since reporting and currently trades at $71.94.

Read our full, actionable report on Coca-Cola here, it’s free.

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