Celsius Holdings (NASDAQ:CELH) Inc stock soared to an all-time high after it handily beat Wall Street expectations by gaining traction for its energy drinks in the competitive North America market.
For the period ended March 31, 2023, the Boca Raton, Florida-based energy drink maker reported earnings of $0.40 per share on revenue of $259.9 million. The consensus earnings estimate was $0.22 per share on revenue of $217.7 million.
The company attributed the nearly 95% expansion in revenue from $133 million in Q1 2022 to strength in North America revenue which went up by 101% to $249 million, up from $124 million in Q1 2022
Investors reacted to the news, sending Celsius shares up nearly 18.9% to $127.26 on the Nasdaq in morning trade.
“We continue to further transition into PepsiCo (NASDAQ:PEP)’s best in class distribution system,” Celsius CEO John Fieldly said in a statement. “In the US, Celsius is now the established No. 3 energy drink brand in the category, being the key growth driver over the last 52 week period.”
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