Celsius Stock Is Surging After The Bell: What's Going On?

Celsius Holdings Inc CELH shares are trading higher in Tuesday’s after-hours session after the company reported better-than-expected financial results for the second quarter. 

• Q2 Revenue: $326 million beat estimates of $274.59 million
• Q2 EPS: 52 cents beat estimates of 29 cents

Total revenue was up 112% year-over-year. International revenue increased 76% year-over-year, and North America revenue was up 114% year-over-year, driven by continued gains in distribution points, increase in average SKUs per location, accelerated Club Channel growth and increased sales and marketing investments.

Celsius ended the quarter with $681 million in cash and equivalents, up from $60 million in the prior year’s quarter. 

“During the second quarter of 2023, Celsius delivered an all-time quarterly record revenue of $326 million in sales and $41 million in net income, driven by expanded availability and increased consumer awareness. In addition, we continue to further leverage PepsiCo’s PEP best-in-class distribution system,” said John Fieldly, president and CEO of Celsius.

Management will hold a conference call to discuss these results at 4:30 p.m. ET.

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CELH Price Action: Celsius shares were up 13.2% after hours at $162.26 at the time of writing, according to Benzinga Pro.

Photo: Tambako The Jaguar from Pixabay.