Celsius (NASDAQ:CELH) stock is in the news Tuesday after the energy drinks and liquid supplements company announced earnings results for its most recent quarter.
Celsius starts off its report with diluted EPS of 28 cents for the period. That’s above Wall Street’s estimate of 24 cents for the quarter. It’s also 65% above the 17 cents from the same period of the year prior.
On top of that, the company brought in revenue of $402 million. That’s better than analysts’ estimate of $392.74 million for the quarter. It is also a 23% jump from the $325.9 million reported in the second quarter of 2023.
John Fieldly, Chairman and CEO of Celsius, said the following about the earnings results:
“Celsius today reported its best second quarter financial results ever, delivering records in revenue, gross profit and gross margin. Celsius continued to lead the energy drink category, contributing 47 percent of all second-quarter growth, and we believe that we are well-positioned to capture incremental category dollar share.”
CELH Stock Movement on Tuesday
That positive earnings report brings with it extra attention to CELH stock. With that comes heavy trading as some 7.4 million shares change hands. This is above its daily average trading volume of about 5.8 million shares.
CELH stock is up 2.6% as of Tuesday afternoon. However, the shares are still down 28.4% since the start of the year.
There are even more stock market stories investors will want to read about today below!
We are offering insight into all of the hottest stock market news happening on Tuesday! Among that is what has shares of Chegg (NYSE:CHGG), Sangamo Therapeutics (NASDAQ:SGMO) and Lucid (NASDAQ:LCID) stock on the move today. You can catch up on all of this at the following links!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.
