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Celsius shares jump 8% on Q1 beat, reports record revenues

Published 05/09/2023, 05:21 PM
Updated 05/09/2023, 05:25 PM
© Reuters Celsius shares jump 8% on Q1 beat, reports record revenues
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Celsius Holdings Inc (NASDAQ:CELH) shares surged more than 8% after-hours following the company’s reported Q1 earnings, with EPS of $0.40 coming in better than the consensus estimate of $0.19.

Revenue grew 95% year-over-year to $260 million, beating the consensus estimate of $218.31M. The revenue beat was driven predominantly by North American revenue, which rose 101% year-over-year to $249M.

According to CEO John Fieldly, the company posted all-time quarterly record revenue and over $34M in net income, driven by expanded availability and increased consumer awareness. Furthermore, the company continues to further transition into PepsiCo's (NASDAQ:PEP) best-in-class distribution system.

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