Sodastream International (NASDAQ:SODA) stock was flying high on Wednesday following the release of its earnings report for the second quarter of 2018.
The big jump for SODA stock comes from an update to its guidance in its most recent earnings report. The company says that it now expects earnings per share for the year to be up 31% from 2017. The company’s previous earnings per share guidance was for growth of 8%.
Sodastream International’s earnings per share for the full year of 2017 was $3.29. This means it is expecting earnings per share of roughly $4.31 for the full year of 2018. For comparison, Wall Street is looking for earnings per share of $3.56 in 2018.
Sodastream International is also now expecting revenue for the full year of 2018 to be up around 23% from its 2017 revenue. The company’s previous guidance was for revenue growth of 15% during the year.
Revenue reported by Sodastream International for the full year of 2017 was $543.37 million. This means it expects 2018 revenue to be approximately $668.35 million. Analysts’ estimates have SODA reporting revenue of $623.20 million for the year.
The update to Sodastream International’s guidance comes alongside a strong earnings report for the second quarter of the year. The company’s earnings per share for the period came in at $1.14. This is up from its earnings per share of 64 cents from the same time last year. It was also good news for SODA stock by easily beating out Wall Street’s earnings per share estimate of 73 cents for the period.
Sodastream International also reported revenue of $171.49 million for the second quarter of 2018. This is up from its revenue of $130.64 million that was reported in the second quarter of 2017. It also came in above analysts’ revenue estimate of $149.13 million for the quarter, making it a boon to SODA stock.
SODA stock was up 22% as of Wednesday afternoon and is up 25% year-to-date.
As of this writing, William White did not hold a position in any of the aforementioned securities.
