Celsius Holdings ( (CELH) ) has released its Q3 earnings. Here is a breakdown of the information Celsius Holdings presented to its investors.
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Celsius Holdings, Inc. is a company specializing in lifestyle energy drinks under the brand CELSIUS, which targets active lifestyles and operates within the energy drink sector.
In its third quarter of 2024, Celsius Holdings reported a significant impact from supply chain optimizations, resulting in a 31% decrease in quarterly revenue compared to the previous year, although year-to-date revenue surpassed $1 billion, reflecting a 5% increase.
Key financial highlights included a 92% drop in net income to $6.4 million for the quarter, with gross margins declining to 46% due to distributor inventory adjustments and promotional allowances. Despite these setbacks, international sales saw a robust increase of 37%. The acquisition of Big Beverages marks a strategic move to enhance innovation and manufacturing capabilities.
Celsius is optimistic about its future, focusing on long-term growth strategies such as expanding its consumer base and broadening product availability, despite current challenges in the supply chain.
