Just when you expected an energy drink crash-out, the sector delivered a surprise jolt. After last year’s icy market, strong second-quarter showings from CelsiusCELH

, MonsterMNST

, and Keurig Dr PepperKDP

have reignited Wall Street’s interest in energy drinks. While consumer stocks post sluggish quarters, the business of liquid energy has been shining with resilience and growth.

• CELH
  surged 17.2% yesterday after reporting record Q2 sales that jumped 84% from last year — leading Truist to note, “In an earnings season full of disappointments, these results stand out.”
• KDP
  also beat expectations, as strong energy drink demand lifted unit sales 10.5% higher — whileMNST
  ’s energy segment sales were projected to grow 9%+ (vs. -0.8% last quarter).

Behind the buzz: The race to dominate the beverage aisle is brewing, with bold acquisitions becoming the active ingredient. Celsius’ $1.65B Alani Nu buyout “continues to surpass expectations” by amassing 41% of the conglomerate’s revenue, while Keurig’s $1B Ghost acquisition drove about an equal portion of growth. Still, these consumer giants grapple with slowdowns elsewhere as Keurig’s coffee slipped, and Monster faces an alcohol segment slump — suggesting that not every division is feeling the rush.