As the Q4 earnings season wraps, let’s dig into this quarter’s best and worst performers in the beverages, alcohol, and tobacco industry, including Celsius (NASDAQ:CELH) 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 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 15 beverages, alcohol, and tobacco stocks we track reported a mixed Q4. As a group, revenues beat analysts’ consensus estimates by 1.6% while next quarter’s revenue guidance was 0.6% below.

While some beverages, alcohol, and tobacco stocks have fared somewhat better than others, they have collectively declined. On average, share prices are down 2.3% since the latest earnings results.

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 $332.2 million, down 4.4% year on year. This print exceeded analysts’ expectations by 2.7%. Overall, it was a strong quarter for the company with an impressive beat of analysts’ EBITDA estimates.

The stock is up 21.7% since reporting and currently trades at $31.04.

Read why we think that Celsius is one of the best beverages, alcohol, and tobacco stocks, our full report is free.

Best Q4: Anheuser-Busch (NYSE:BUD)

Born out of a complicated web of mergers and acquisitions, Anheuser-Busch InBev (NYSE:BUD) boasts a powerhouse beer portfolio of Budweiser, Stella Artois, Corona, and local favorites around the world.

Anheuser-Busch reported revenues of $14.84 billion, up 2.5% year on year, outperforming analysts’ expectations by 5.5%. The business had a stunning quarter with an impressive beat of analysts’ EPS estimates and a solid beat of analysts’ EBITDA estimates.

The market seems happy with the results as the stock is up 16.2% since reporting. It currently trades at $63.61.

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

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.