The beverage industry is gearing up for another busy earnings season, with investors closely watching whether companies can sustain growth against a mixed operating backdrop. While inflationary pressures have eased in several markets, consumers remain value-conscious, prompting beverage companies to balance pricing actions with volume growth.

The demand for established brands remains resilient, but consumers are becoming increasingly selective as elevated living costs continue to influence purchasing decisions. This environment is compelling companies to rely less on broad-based pricing and more on premiumization, pack-size innovation and targeted promotions to sustain revenue growth without materially weakening volumes.

Category trends are also becoming more uneven. Energy drinks, functional beverages, ready-to-drink cocktails and non-alcoholic products continue to gain traction, reflecting consumers’ growing preference for convenience, wellness and moderation. Meanwhile, traditional beer and carbonated soft-drink volumes remain sensitive to regional economic conditions, weather patterns and channel traffic. Companies with exposure to faster-growing categories and a strong innovation pipeline may therefore be better-positioned to offset softness in mature segments.

Profitability is likely to remain a key area of focus this earnings season. Easing commodity and transportation costs may have offered some relief, but the benefits could have been partly offset by higher labor expenses, adverse currency movements, and sustained investments in marketing and distribution. Investors will be watching whether productivity initiatives, operating efficiencies and a favorable product mix can support margins without constraining brand investment. Companies that strike the right balance between pricing, volume stability and cost discipline are likely to be better-positioned to outperform.

Management commentary will also be closely scrutinized for insights into pricing trends, consumer demand, margin expectations and the outlook for the remainder of the year. With expectations still elevated after several quarters of solid execution across the sector, businesses that deliver resilient sales growth while maintaining tight cost controls are likely to stand out.

Q2 Expectations

The Beverage industry, which is part of the Zacks Consumer Staples sector, seems poised for growth in the second quarter of 2026, owing to the aforementioned trends and initiatives of players. Overall earnings for the Consumer Staples sector are projected to witness year-over-year growth of 10.3%, with 6.6% higher revenues, per the latest Earnings Outlook.

How to Identify Potential Outperformers?

One way to identify stocks with the potential to outperform earnings expectations is by picking stocks that have the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). You can see the complete list of today’s Zacks #1 Rank stocks here.

Earnings ESP is our proprietary methodology for identifying stocks that have high chances of surprising in their upcoming earnings announcements. It shows the percentage difference between the Most Accurate Estimate and the Zacks Consensus Estimate. Our research shows that for stocks with this combination, the chances of a positive earnings surprise are as high as 70%. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.

Our Picks

Against this backdrop, we have identified five beverage stocks that possess the right combination of favorable Zacks Rank and positive Earnings ESP, making them strong candidates to deliver earnings surprises in the coming weeks.

Fomento Economico Mexicano, S.A.B. de C.V. (FMX Quick QuoteFMX - Free Report) , alias FEMSA, is well-poised for growth when it reports second-quarter 2026 numbers on July 28, 2026, with gains from growth across its business units, backed by effective growth strategies. Its growth strategy is focused on strengthening its convenience-store business, expanding internationally and enhancing its digital capabilities. The company registered an earnings surprise of 41.5% in the last reported quarter. FEMSA presently sports a Zacks Rank #1 and has an Earnings ESP of +37.42%. 

FMX is expected to register top- and bottom-line growth in the second quarter. The Zacks Consensus Estimate for second-quarter revenues is pegged at $12.9 billion, implying 19.3% growth from the year-ago quarter's reported figure. For FEMSA’s quarterly earnings, the Zacks Consensus Estimate is pegged at 82 cents per share, suggesting 95.2% growth from the prior-year quarter’s actual. The consensus mark has moved down 10.9% in the past 30 days.

Primo Brands Corporation (PRMB Quick QuotePRMB - Free Report) is likely to record top-line growth when it reports second-quarter 2026 numbers on Aug. 5, 2026. The company’s second-quarter performance is expected to have benefited from healthier hydration demand, premium-water momentum and improving Direct Delivery execution. Currently, Primo Brands has a Zacks Rank #2 and an Earnings ESP of +16.51%. 

The company registered an earnings surprise of 1.4%, on average, in the trailing four quarters. The Zacks Consensus Estimate for PRMB’s second-quarter revenues is pegged at $1.8 billion, suggesting 1.7% growth from the prior-year quarter’s reported figure. For second-quarter earnings, the consensus mark is pegged at 34 cents per share, suggesting a 5.6% fall from the year-ago quarter’s reported figure. The consensus mark has moved by a penny in the past seven days.

Monster Beverage Corporation (MNST Quick QuoteMNST - Free Report) presently has an Earnings ESP of +2.61% and a Zacks Rank #3. The company is likely to register growth in the top and bottom lines when it reports second-quarter 2026 numbers. The company continues to benefit from the expansion of the energy drinks market and product launches, reinforcing its category strength. MNST is experiencing constant growth in the global energy drink market, backed by strong demand across convenience stores and other key retail channels. 

The Zacks Consensus Estimate for MNST’s second-quarter revenues is pegged at $2.4 billion, which indicates growth of 14.5% from the figure reported in the year-ago quarter. The consensus mark for Monster Beverage’s quarterly earnings per share of 59 cents implies a rise of 13.5% from the year-ago quarter’s actual. The consensus mark has been unchanged in the past 30 days. MNST has a trailing four-quarter earnings surprise of 9.6%, on average.

Anheuser-Busch InBev SA/NV (BUD Quick QuoteBUD - Free Report) , also known as AB InBev, is likely to register year-over-year growth in its top and bottom lines when it reports second-quarter 2026 earnings on July 30, 2026. The leading alcohol beverage company’s results are expected to reflect gains from disciplined revenue management, continued premiumization and strong brand momentum. Sustained investments in marketing and brand building, coupled with major global events, are also expected to have strengthened consumer engagement and supported sales in the quarter. 

AB InBev currently has an Earnings ESP of +1.60% and a Zacks Rank #3. The Zacks Consensus Estimate for AB InBev’s quarterly revenues is pegged at $16.3 billion, indicating 8.6% growth from the year-ago quarter’s reported number. For second-quarter earnings, the consensus mark is pegged at $1.09 per share, suggesting 11.2% growth from the prior-year reported figure. The consensus mark has been unchanged in the past 30 days. AB InBev registered an earnings surprise of 4.6%, on average, in the trailing four quarters.

Black Rock Coffee Bar, Inc.’s (BRCB Quick QuoteBRCB - Free Report) second-quarter 2026 results, scheduled to be released on Aug. 11, 2026, are likely to reflect gains from its aggressive unit expansion, which remains its primary growth engine. Continued comparable-store sales gains, supported by menu innovation and customer engagement initiatives, are likely to have aided second-quarter revenues. Robust revenue growth, combined with higher store-level profitability, is expected to have supported earnings.

Black Rock, a chain of drive-thru coffee bars in the United States, has an Earnings ESP of +28.57% and a Zacks Rank #3 at present. The company delivered an earnings surprise of 20.8%, on average, in the trailing three quarters. The Zacks Consensus Estimate for BRCB’s second-quarter revenues is pegged at $64.2 million, with earnings pinned at 7 cents per share. The consensus mark has been unchanged in the past 30 days.