BOCA RATON, Fla. - Celsius Holdings , Inc. (NASDAQ:CELH), known for its CELSIUS® premium energy drink, today announced the addition of Israel Kontorovsky to its board of directors. Kontorovsky, who is currently serving as the Chief Financial Officer of PepsiCo (NASDAQ:PEP) LatAm, will also join the Audit and Enterprise Risk Committee of the board. The appointment follows a nomination by PepsiCo, Inc. under an existing agreement with Celsius Holdings.
Kontorovsky steps into the role previously held by Jim Lee, who resigned from both PepsiCo and the Celsius board in September 2024. John Fieldly, Chairman and CEO of Celsius, expressed confidence in the new appointment, highlighting Kontorovsky's extensive experience in the consumer packaged goods industry and his potential contribution to Celsius's ambition to become the leading energy drink brand globally.
With over three decades of experience, Kontorovsky has held various leadership positions within PepsiCo since joining the company in 2000, including Senior Vice President, Commercial Finance at PepsiCo Foods North America and Chief Financial Officer of Quaker Foods North America.
This strategic move comes as part of Celsius Holdings' ongoing efforts to expand its global presence and capitalize on the growing energy drink market. The company's partnership with PepsiCo continues to be a pivotal aspect of its expansion strategy.
Celsius Holdings' forward-looking statements in the press release point to future plans for international growth and operational scaling. However, these projections are subject to various factors, including economic conditions, market competition, and regulatory compliance.
The information for this article is based on a press release statement from Celsius Holdings, Inc.
In other recent news, Keurig Dr Pepper (NASDAQ:KDP) has made a significant investment in the energy drinks market by acquiring a 60% stake in Ghost for $990 million. This acquisition is part of a larger strategy to diversify its beverage portfolio and strengthen its position in the market. The transaction is expected to be completed between late 2024 and early 2025, with Ghost continuing its operations under the leadership of its co-founders.
In the realm of analyst ratings, Roth/MKM has maintained a Buy rating on shares of Celsius Holdings, despite anticipated inventory reductions by PepsiCo. Morgan Stanley (NYSE:MS) also kept its Equalweight rating on Celsius steady, while Piper Sandler confirmed its Overweight rating but adjusted the price target from $50 to $47. Furthermore, Stifel maintains a positive outlook on Celsius, predicting an improvement in convenience store sales by 2025.
In terms of financial performance, Celsius Holdings reported a 23% increase in total revenue, reaching a record $402 million, and a 30% rise in international revenue to $19.6 million. However, the company is facing potential impacts on sales and EBITDA for the third quarter and full year of 2024 due to inventory reductions by PepsiCo. These are the recent developments for both Keurig Dr Pepper and Celsius Holdings.
InvestingPro Insights
As Celsius Holdings, Inc. (NASDAQ:CELH) welcomes Israel Kontorovsky to its board of directors, investors may find additional context from recent financial data and analyst insights valuable. According to InvestingPro, Celsius has demonstrated impressive revenue growth of 56.5% over the last twelve months, with quarterly revenue growth of 23.35% in Q2 2024. This robust growth aligns with the company's ambitions to become a leading global energy drink brand, as mentioned in the article.
InvestingPro Tips highlight that Celsius holds more cash than debt on its balance sheet, suggesting a strong financial position as it pursues expansion plans. This liquidity could provide the flexibility needed to support the company's growth initiatives and international expansion efforts mentioned in the press release.
However, investors should note that the stock has experienced significant volatility recently. InvestingPro data shows a 33.02% decline in the stock price over the past three months and a substantial 57.41% drop over the last six months. This volatility may reflect market uncertainties or concerns about the company's valuation, as another InvestingPro Tip indicates that Celsius is trading at high EBITDA and revenue valuation multiples.
For those seeking a more comprehensive analysis, InvestingPro offers 14 additional tips for Celsius Holdings, providing a deeper understanding of the company's financial health and market position.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.