Zevia Pbc

Philip Morris International reported second-quarter revenues of $11.19 billion, up 10.4% year on year and 5.5% above analysts' consensus estimates, the biggest estimate beat among the 13 beverages, alcohol, and tobacco stocks tracked. Vita Coco posted the group's best quarter, with revenues of $216.2 million, up 28.1% year on year and 3% ahead of expectations, and the highest full-year guidance raise among its peers, though its stock is down 22.7% since reporting and trades at $57.55. Celsius delivered the weakest performance against estimates, with revenues of $817.9 million, up 10.6% year on year but 6.2% short of expectations, missing significantly on EBITDA and EPS, and its stock is down 2.3% at $28.48. Zevia reported revenues of $45 million, up 1.1% year on year and 1.8% above expectations, while Boston Beer's revenues of $568.3 million fell 3.3% year on year and were in line with expectations. As a group, the 13 stocks beat consensus revenue estimates by 1% and guided next-quarter revenue 2.2% above, yet their shares are down an average of 7.1% since the latest results.

MGP Ingredients reported second-quarter revenues of $124.4 million, down 14.5% year on year and 0.7% below analyst expectations, though it beat EPS and EBITDA estimates. Among the 13 beverages, alcohol, and tobacco stocks tracked, the group overall beat revenue consensus by 1% and guided next quarter 2.2% above. Vita Coco was the best performer with revenue up 28.1% to $216.2 million, while Celsius was the weakest, missing revenue estimates by 6.2% despite 10.6% growth to $817.9 million. Molson Coors revenue fell 3.3% to $3.10 billion, meeting expectations, and Zevia revenue rose 1.1% to $45 million, beating by 1.8%.

Activist investor Kanen Wealth Management has urged Zevia's board to launch a strategic review including a sale of the US zero-sugar soft-drinks maker. In a letter dated Friday, David Kanen, president of Kanen Wealth Management, said Zevia is worth $2.75 to $3.75 per share in a sale, more than double the current price at the midpoint. Kanen Wealth Management owns around 4% of the group, which sells stevia-sweetened beverages in the US and Canada. The investor argued Zevia has failed to capitalise on growth in the modern soda category despite having nearly 20 years of brand equity and national distribution, and criticised governance including the June appointment of board member Alexandre Ruberti as president and CEO after Amy Taylor stepped down. Zevia said it welcomes open communication with shareholders and that its board would review Kanen's concerns carefully and thoughtfully.

Zevia PBC reported second-quarter 2026 net sales of $45 million, a 1.1% increase from the prior-year period, driven by pricing actions. Adjusted EBITDA improved to approximately $0.5 million from $0.2 million a year earlier, while gross margin edged up 20 basis points to 48.9%, partly offset by higher aluminum costs. The company is prioritizing its singles business, estimating an approximately $80 million opportunity if it achieves multipack-level market share, and plans to begin executing a revised go-to-market strategy in early 2027. Zevia maintained its full-year 2026 guidance of $170 million to $175 million in sales and an adjusted EBITDA loss of $2 million to $4 million, while expecting $3 million to $5 million in annualized cost savings beginning in the first quarter of 2027.

Shares of Coty, Boston Beer, and Zevia jumped in afternoon trading after the University of Michigan's Consumer Sentiment Index rose for a second straight month, beating expectations. The preliminary July reading came in at 54.4, higher than the forecasted 51.0 and the highest level since February, supported by easing gasoline prices. All five components of the index improved, including a 20% gain in buying conditions for durable goods. Coty gained 4.6%, Boston Beer rose 2.6%, and Zevia added 1.5%.