Benzinga - by Adam Eckert, Benzinga Staff Writer.
Celsius Holdings Inc (NASDAQ:CELH) shares are soaring to all-time highs Thursday following the company’s quarterly results. Celsius CEO John Fieldly still sees plenty of runway ahead for the energy drink maker.
What Happened: Celsius reported fourth-quarter revenue of $347.44 million, beating estimates of $331.49 million. The company also beat earnings estimates, reporting EPS of 17 cents versus expectations for 15 cents.
Celsius shares are now up more than 38% since the start of the year, and the stock has climbed nearly 140% over the last year. The company’s revenues have been doubling on a year-over-year basis and Fieldly remains as optimistic as ever.
“There’s huge opportunity for us in the category,” Fieldly said Thursday on CNBC’s “Squawk Box.”
“There’s a ton of runway. The energy category is one of the fastest growing categories in food and beverage and we are positioned for today’s health-minded consumer.”
Fieldly told CNBC that Celsius is currently the third-largest energy drink in the U.S. by volume and it’s the best-selling energy drink brand on Amazon.com Inc (NASDAQ:AMZN). Given that the company continues to take market share in terms of both dollars and units, “We see a huge runway ahead,” the Celsius CEO emphasized.
Celsius is helping boost the growth of the overall energy drink category by bringing new consumers into the space with its differentiated ingredients. When comparing Celsius products to other players in the energy drink space, it’s clear that Celsius is better positioned for health conscious consumers, he said.
“One thing we hear is no crash, no jitters from the product from a lot of our customers versus some of the other products that are out there,” Fieldly said.
The Celsius CEO noted that the company offers a “better-for-you” energy drink, but the opportunity for Celsius is bigger than the energy category. Consumers are pairing Celsius drinks with meals and the company just launched its new “Fizz-free” line of beverages to help expand its reach, Fieldly said.
“We have a non-carb line … we have a peach mango green tea, which is really phenomenal and differentiated in the energy category. We really see this going beyond energy,” Fieldly said.
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CELH Price Action: Celsius Holdings shares were up 21.5% at $82.39 at the time of publication, according to Benzinga Pro.
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