Celsius Holdings CELH Reports Record Q2 Revenue of $4.02 Billion, Up 23% YoY
Strong North American performance drives growth
Company raises guidance for full-year 2024
Celsius Holdings CELH, the energy drink company, reported record second-quarter 2024 financial results with revenue up 23% year-over-year to $4.02 billion. The company's strong performance was driven by continued growth in North America, where revenue increased 25% to $3.1 billion.
Celsius also reported strong growth in its international business, with revenue increasing 13% to $920 million. The company's international growth was led by strong performance in Europe and Asia.
Celsius's net income for the second quarter increased 27% to $624 million, or $0.40 per share. This was ahead of analysts' expectations, who had forecast earnings of $0.33 per share.
The company's strong financial performance has led to it raising its guidance for full-year 2024. Celsius now expects revenue to be in the range of $15.8 billion to $16.2 billion, up from its previous guidance of $15.5 billion to $15.9 billion. The company also expects net income to be in the range of $2.4 billion to $2.5 billion, up from its previous guidance of $2.3 billion to $2.4 billion.
Celsius's strong performance is a testament to the strength of its brand and its continued execution of its growth strategy. The company is well-positioned to continue its growth in the years to come.
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