CELH - Why Celsius Holdings Stock Rocketed Almost 25% This Week
2024-03-01 14:11:22 ET
Shares of energy drink maker Celsius Holdings (NASDAQ: CELH) soared after the company reported fourth-quarter and full-year 2023 results this week. Celsius stock has rocketed nearly 50% this year, but about half of that was from its surge this week. As of Friday afternoon, shares were higher by about 25% just this week, according to data provided by S&P Global Market Intelligence .
Celsius' huge growth in product sales led it to a full-year profit of $0.77 diluted earnings per share . That compares to a loss of $0.88 for 2022. For the full year, international revenue jumped by 52% while sales in North America soared by 105%. Maybe more importantly, gross margin expanded by 660 basis points or more than 6 full percentage points to 48%.
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Why Celsius Holdings Stock Rocketed Almost 25% This Week