Earnings results often give us a good indication of what direction a company will take in the months ahead. With Q4 now behind us, let’s have a look at MGP Ingredients (NASDAQ:MGPI) 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 14 beverages and alcohol stocks we track reported a weaker Q4; on average, revenues were in line with analyst consensus estimates while next quarter's revenue guidance was 20.2% below consensus. Investors abandoned cash-burning companies to buy stocks with higher margins of safety, but beverages and alcohol stocks held their ground better than others, with share prices down 3.1% on average since the previous earnings results.

MGP Ingredients (NASDAQ:MGPI)

Headquartered in Atchison, Kansas, MGP Ingredients (NASDAQGS:MGPI) is a leading supplier of high-quality ingredients to the food and beverage industry

MGP Ingredients reported revenues of $214.9 million, up 12.5% year on year, topping analyst expectations by 4.6%. It was a mixed quarter for the company, with an impressive beat of analysts' EPS estimates but full-year revenue guidance missing analysts' expectations.

MGP Ingredients delivered the weakest full-year guidance update of the whole group. The stock is down 10% since the results and currently trades at $82.75.

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

Best Q4: 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 $106.1 million, up 15.4% year on year, outperforming analyst expectations by 7%. It was a very strong quarter for the company, with an impressive beat of analysts' earnings and revenue estimates. On the other hand, its full-year revenue guidance was underwhelming. However, adjusted EBITDA guidance came in ahead, which is sure to blunt the impact of the below-Consensus revenue guidance.

Vita Coco achieved the biggest analyst estimates beat and highest full-year guidance raise among its peers. The stock is up 13.7% since the results and currently trades at $25.5.

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

Weakest Q4: 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 $393.7 million, down 12% year on year, falling short of analyst expectations by 4.8%. It was a weak quarter for the company, with a miss of analysts' revenue and EPS estimates.

Boston Beer had the slowest revenue growth in the group. The stock is down 20.7% since the results and currently trades at $293.14.

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

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 $1.07 billion, down 1.1% year on year, falling short of analyst expectations by 4.5%. It was a weak quarter for the company, with a miss of analysts' revenue estimates.

The stock is down 15.3% since the results and currently trades at $51.42.

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

PepsiCo (NASDAQ:PEP)

With a history that goes back more than a century, PepsiCo (NASDAQ:PEP) is a household name in food and beverages today and best known for its flagship soda.

PepsiCo reported revenues of $27.85 billion, down 0.5% year on year, falling short of analyst expectations by 1.8%. It was a weak quarter for the company, with a miss of analysts' revenue and EPS estimates. Guidance for full year organic revenue called for growth of at least 4% while analysts' estimates was for 4.9% growth. Full year EPS will be "at least" $8.15, and with Consensus at $8.15, this portion of guidance can be viewed as better.

The stock is down 2.5% since the results and currently trades at $169.68.

Read our full, actionable report on PepsiCo here, it's free.

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