Celsius stock surges on strong sales, profit growth
Nov. 09, 2022 5:22 PM ETCelsius Holdings, Inc. (CELH)
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Celsius Holdings (NASDAQ:CELH) shares rose sharply in Wednesday’s extended session after reporting triple-digit gains in profits and sales for the first 9 months of 2022.
The Florida-based energy drink company posted $188.2M in revenue, well above estimates, and $78.7M in gross profit. The results bring total revenue in 2022 to $475.6M, up 126% from the prior year, and gross profits to $191.9M, up 122% from 2021. Management added that third quarter results were “negatively impacted by a $155.4M expense in Sales and Marketing related to a termination expense of prior distributors recognized,” skewing EPS figures.
Nov. 09, 2022 5:22 PM ETCelsius Holdings, Inc. (CELH)
Aaron Davidson/Getty Images Entertainment
Celsius Holdings (NASDAQ:CELH) shares rose sharply in Wednesday’s extended session after reporting triple-digit gains in profits and sales for the first 9 months of 2022.
The Florida-based energy drink company posted $188.2M in revenue, well above estimates, and $78.7M in gross profit. The results bring total revenue in 2022 to $475.6M, up 126% from the prior year, and gross profits to $191.9M, up 122% from 2021. Management added that third quarter results were “negatively impacted by a $155.4M expense in Sales and Marketing related to a termination expense of prior distributors recognized,” skewing EPS figures.