Celsius Holdings, Inc. CELH shares are trading higher after the company reported fourth-quarter results.
The company reported fourth-quarter earnings per share of $0.17, beating the analyst consensus of $0.15.
Quarterly revenues of $347.43 million beat the street view of $331.49 million. Revenues jumped 95% year over year.
North American revenue increased 97% to $333 million, driven by expansion in total distribution points and higher SKUs per location. International revenue increased 68% to $14.6 million, driven in large part by new flavor launches, product availability, and increased velocity.
Adjusted EBITDA jumped 387% to $65.2 million.
Gross profit for the fourth quarter of 2023 was $166 million, up 110% year over year.
Quarterly gross margin expanded to 47.8% from 44.4% a year ago.
The 340 basis point improvement in gross profit margin was attributed to efficiencies in raw material sourcing, product waste reduction and benefits from improved leverage across promotional allowances.
As of Dec. 31, 2023, Celsius had $756 million in cash and cash equivalents.
“We continued to drive growth of the category by bringing in new loyal consumers, as well as increasing consumption occasions," commented John Fieldly, chairman and CEO.
CELH Price Action: Celsius Holdings shares are trading higher by 17.47% to $79.45 on the last check Thursday.
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Photo: Courtesy Celsius Holdings
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