A Look Back at Beverages and Alcohol Stocks' Q3 Earnings: MGP Ingredients (NASDAQ:MGPI) Vs The Rest Of The Pack
Let's dig into the relative performance of MGP Ingredients (NASDAQ:MGPI) and its peers as we unravel the now-completed Q3 beverages and alcohol earnings season.
The beverages and alcohol category encompasses companies engaged in the production, distribution, and sale of refreshments like beer, wine, and spirits, along with soft drinks, juices, and bottled water. 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. The industry is highly competitive, with a diverse range of products from large multinational corporations, niche brands, and startups vying for market share. It's also subject to varying degrees of government regulation and taxation, especially for alcoholic beverages.
The 14 beverages and alcohol stocks we track reported a mixed Q3; on average, revenues beat analyst consensus estimates by 1.1% while next quarter's revenue guidance was 3.9% below consensus. Valuation multiples for growth stocks have reverted to their historical means after reaching highs in early 2021, but beverages and alcohol stocks held their ground better than others, with the share prices up 2.7% 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 $211.6 million, up 5.2% year on year, topping analyst expectations by 1.2%. It was a weaker quarter for the company, with a miss of analysts' earnings estimates.
“We are very pleased with our continued momentum this quarter, which has again yielded strong results across each of our business segments,” said David Colo, president and CEO of MGP Ingredients.
The stock is down 2.4% since the results and currently trades at $91.8.
Read our full report on MGP Ingredients 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 $384.8 million, outperforming analyst expectations by 9.4%. It was an incredible quarter for the company, with an impressive beat of analysts' earnings estimates.
Celsius scored the biggest analyst estimates beat among its peers. The stock is up 1.4% since the results and currently trades at $59.88.
Is now the time to buy Celsius? Access our full analysis of the earnings results here, it's free.
Weakest Q3: Duckhorn (NYSE:NAPA)
With many of their grapes sourced from the famous Napa Valley region of California, The Duckhorn Portfolio (NYSE:NAPA) is a producer of premium wines and known for its Merlot and other Bordeaux varietals.
Duckhorn reported revenues of $102.5 million, down 5.2% year on year, falling short of analyst expectations by 1%. It was a weaker quarter for the company, with a miss of analysts' earnings estimates.
Duckhorn had the slowest revenue growth and weakest full-year guidance update in the group. The stock is down 1.8% since the results and currently trades at $10.03.
Read our full analysis of Duckhorn's results here.
Coca-Cola (NYSE:KO)
A pioneer and behemoth in carbonated soft drinks, The Coca-Cola Company (NYSE:KO) is a storied beverage company best known for its flagship soda of the same name.
Coca-Cola reported revenues of $11.97 billion, up 5.7% year on year, surpassing analyst expectations by 1.9%. It was a decent quarter for the company, with a beat of analysts' revenue estimates.
The stock is down 4% since the results and currently trades at $59.8.
Read our full, actionable report on Coca-Cola here, it's free.
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 $15.57 billion, up 3.2% year on year, falling short of analyst expectations by 0.9%. It was a weak quarter for the company, with a miss of analysts' earnings and revenue estimates.
The stock is up 21.4% since the results and currently trades at $65.62.
Read our full, actionable report on Anheuser-Busch here, it's free.
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The author has no position in any of the stocks mentioned
