The end of the earnings season is always a good time to take a step back and see who shined (and who didn’t). 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 4.7% while next quarter’s revenue guidance was 3% below.

In light of this news, share prices of the companies have held steady as they are up 4.4% on average 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 adjusted operating income in line with analysts’ estimates but a miss of analysts’ EBITDA estimates.

The market seems disappointed with the results as the stock is down 10.2% since reporting and currently trades at $27.32.

Read our full report on Brown-Forman here, it’s free.

Best Q3: 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 $179.8 million, up 37.3% year on year, outperforming analysts’ expectations by 20.5%. The business had a stunning quarter with a beat of analysts’ EPS and EBITDA estimates.

Vita Coco delivered the biggest analyst estimate beat and highest full-year guidance raise among its peers. The market seems happy with the results as the stock is up 61.7% since reporting. It currently trades at $83.50.

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

Weakest Q3: 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 $433.9 million, down 4.4% year on year, in line with analysts’ expectations. It was a softer quarter as it posted a significant miss of analysts’ adjusted operating income estimates and a significant miss of analysts’ EPS estimates.

Boston Beer delivered the weakest performance against analyst estimates in the group. As expected, the stock is down 25.1% since the results and currently trades at $177.50.

Read our full analysis of Boston Beer’s results here.

Altria (NYSE: MO)

Best known for its Marlboro brand of cigarettes, Altria (NYSE: MO) offers tobacco and nicotine products.

Altria reported revenues of $4.76 billion, up 5.3% year on year. This number beat analysts’ expectations by 4%. It was a strong quarter as it also recorded a solid beat of analysts’ EBITDA estimates.

The stock is up 1.7% since reporting and currently trades at $69.35.

Read our full, actionable report on Altria 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 $2.35 billion, up 26.9% year on year. This result topped analysts’ expectations by 9.3%. Overall, it was an exceptional quarter as it also logged a solid beat of analysts’ EBITDA estimates.

The stock is up 22.5% since reporting and currently trades at $93.03.

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 Quality Compounder Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.