Celsius Reports Best Second Quarter Financial Results Ever
Company Delivers Earnings and Revenue Surprises
Strong Demand for Energy Drinks Drives Growth
Celsius Holdings Inc. (CELH) reported its best second quarter financial results ever today. The energy drink maker delivered earnings and revenue surprises of 2174% and 337%, respectively, for the quarter ended June 2024. The company's strong performance was driven by increased demand for its energy drinks, which are taking market share from rivals like Red Bull.
Celsius reported record fourth quarter revenue of $347 million, up 95% from $178 million in Q4 2022. Full-year revenue also hit a record, reaching $1,318 million, an increase of 102%. The company's earnings per share (EPS) came in at $0.16, well ahead of the consensus estimate of $0.05.
Shares of Celsius rose in after-hours trading following the earnings release. The company's stock has been on a tear in recent months, rising over 100% year-to-date. Celsius is well-positioned to continue its growth trajectory as the demand for energy drinks continues to increase.
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