Let’s dig into the relative performance of Keurig Dr Pepper (NASDAQ: KDP) and its peers as we unravel the now-completed Q4 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 13 beverages, alcohol, and tobacco stocks we track reported a satisfactory 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 10.7% since the latest earnings results.

Keurig Dr Pepper (NASDAQ: KDP)

Born out of a 2018 merger between Keurig Green Mountain and Dr Pepper Snapple, Keurig Dr Pepper (NASDAQ: KDP) is a consumer staples powerhouse boasting a portfolio of beverages including sodas, coffees, and juices.

Keurig Dr Pepper reported revenues of $4.50 billion, up 10.5% year on year. This print exceeded analysts’ expectations by 3.1%. Despite the top-line beat, it was still a mixed quarter for the company with a solid beat of analysts’ revenue estimates but a miss of analysts’ gross margin estimates.

Commenting on the Company's results, CEO Tim Cofer stated, "2025 was another strong year for KDP. We delivered on our guidance, navigated the dynamic operating environment with agility, and executed well in the marketplace with winning innovation and robust commercial activation of our brands. In 2026, we intend to build upon our momentum with the acquisition and integration of JDE Peet's and progress towards the subsequent separation into two advantaged pure play companies."

The stock is down 14.5% since reporting and currently trades at $25.44.

Is now the time to buy Keurig Dr Pepper? 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 an impressive 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 its peers, the market seems unhappy with the results as the stock is down 32.6% since reporting. It currently trades at $34.09.

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

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, falling short of analysts’ expectations by 1.5%. It was a slower quarter as it posted a miss of analysts’ EBITDA and revenue estimates.

As expected, the stock is down 1.7% since the results and currently trades at $76.66.

Read our full analysis of Coca-Cola’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 $127.8 million, flat year on year. This result topped analysts’ expectations by 6.2%. It was an exceptional quarter as it also logged an impressive beat of analysts’ EBITDA estimates.

Vita Coco had the weakest full-year guidance update among its peers. The stock is down 14.7% since reporting and currently trades at $48.20.

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

Constellation Brands (NYSE: STZ)

With a presence in more than 100 countries, Constellation Brands (NYSE: STZ) is a globally renowned producer and marketer of beer, wine, and spirits.

Constellation Brands reported revenues of $2.22 billion, down 9.8% year on year. This number surpassed analysts’ expectations by 2.9%. Overall, it was a very strong quarter as it also put up a solid beat of analysts’ EBITDA estimates and an impressive beat of analysts’ organic revenue estimates.

The stock is up 7.9% since reporting and currently trades at $151.65.

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