Shares of Celsius Holdings, Inc. (NASDAQ: CELH) soared 13.92% in pre-market trading on Thursday following the release of its exceptional second-quarter financial results. The energy drink maker significantly outperformed analyst expectations, demonstrating robust growth and profitability.
Celsius reported quarterly revenue of $739 million, handily beating the Wall Street consensus estimate of $651.5 million. This represents a remarkable 83.91% increase compared to the same period last year when the company posted sales of $401.977 million. The company's adjusted earnings per share (EPS) came in at $0.47, more than doubling the analyst estimate of $0.23 and showing a 67.86% improvement from the $0.28 per share reported in the previous year.
The strong performance was further underscored by a gross profit of $380.9 million for the quarter. Notably, the company stated that the impact of tariffs was not significant during the quarter, as inventory is recorded on a first-in-first-out basis. This impressive financial showing reflects Celsius Holdings' growing market presence and effective operational strategies, fueling investor optimism and driving the substantial pre-market stock price increase.