As the craze of earnings season draws to a close, here’s a look back at some of the most exciting (and some less so) results from Q3. Today, we are looking at beverages, alcohol, and tobacco stocks, 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 satisfactory Q3. 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 10.8% 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 23.8% since reporting and currently trades at $23.16.

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

Celsius scored the biggest analyst estimates beat and 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 17.4% since reporting. It currently trades at $41.82.

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 $5.08 billion, flat year on year, exceeding analysts’ expectations by 1.1%. Still, it was a slower quarter as it posted a miss of analysts’ EBITDA estimates and a miss of analysts’ adjusted operating income estimates.

Interestingly, the stock is up 2.7% since the results and currently trades at $64.82.

Read our full analysis of Altria’s results here.

Molson Coors (NYSE: TAP)

Sporting an impressive roster of iconic beer brands, Molson Coors (NYSE: TAP) is a global brewing giant with a rich history dating back more than two centuries.

Molson Coors reported revenues of $2.66 billion, down 2.7% year on year. This print lagged analysts' expectations by 1.7%. More broadly, it was a mixed quarter as it also recorded a solid beat of analysts’ EBITDA estimates but a miss of analysts’ revenue estimates.

The stock is down 17.8% since reporting and currently trades at $41.79.

Read our full, actionable report on Molson Coors 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 result beat analysts’ expectations by 4.6%. Taking a step back, it was a satisfactory quarter as it also logged an impressive beat of analysts’ revenue estimates but a slight miss of analysts’ gross margin estimates.

The stock is down 14.5% since reporting and currently trades at $74.12.

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 9 Best Market-Beating Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.