Stock Alert: Celsius Holdings Climbs On Quarterly Results

(RTTNews) - Shares of calorie-burning fitness beverages maker Celsius Holdings, Inc. (CELH) are rising more than 10% Thursday morning on upbeat third-quarter results.

The stock touched a new high of $28.49 this morning.

Third-quarter net income was $4.8 million or $0.06 per share versus $961,042 or a $0.03 per share a year ago. Analysts polled by Thomson Reuters were expecting earnings of $0.02 per share

Revenue for the quarter rose 80% year-over-year to $36.8 million.

The company had double-digit growth in traditional channels of trade and expansion with world class retail and distribution partners as well as 111% growth in ecommerce sales.

The consensus revenue estimate was for $33 million.

"Moving through the fourth quarter and into 2021, the company expects a continuation of the accelerated DSD (direct store delivery) transition with our retail partners, further expansion into the underpenetrated convenience channel and new innovative flavors across expanded geographic markets," said John Fieldly, President and Chief Executive Officer.