Celsius Holdings Turns To Q3 Profit; Stock Up 10% In Pre-market

(RTTNews) - Consumer packaged goods company Celsius Holdings, Inc. (CELH) Tuesday reported a profit for the third quarter, compared with a loss in the year-ago quarter, driven by more than 100% growth in revenue.

The company posted a profit of $70.53 million, or $0.89 per share for the third quarter, compared with a loss of $186.49 million, or $2.46 per share for the prior-year quarter. Analysts on average, polled by Thomson-Reuter were expecting profit of $0.46 per share. Analysts' estimates typically exclude special items.

Revenue for the quarter increased 104% to $384.76 million from $188.23 million last year, driven by 107% growth in North American revenue to $371 million. The consensus estimate was for $348.94 million.

The company said increase in North American revenue was due to expansion in total distribution points and higher SKUs (Stock Keeping Units) per location.

Celsius Holdings shares were up more than 10% in pre-market. The stock had closed at $176.90, up 1.35% on Monday. It has traded in the range of $78.25 - $206.85 in the last 52 weeks.