Celsius Stock Hits 52-Week High After Blowout Q2 Earnings

Celsius Holdings shares hit a new 52-week high Monday, extending gains from last week’s strong second-quarter results, according to Benzinga. The beverage company posted second-quarter adjusted earnings of 47 cents per share, topping the consensus estimate of 23 cents. Revenue climbed 84% year-over-year to $739.26 million, beating expectations. The sales surge was driven by $301.2 million from its new Alani Nu brand and a 9% year-over-year revenue gain from its core brand. Celsius’ adjusted EBITDA more than doubled year-over-year to $210.3 million. Analysts, including Truist, Maxim, Citigroup, and UBS, raised price targets and maintained Buy ratings on Celsius following the report. CEO John Fieldly said Celsius is shaping the future of modern energy, which he sees as one of the beverage industry’s most exciting growth opportunities. Celsius Holdings shares rose 3.95% to $54 Monday, near their 52-week high of $54.49, according to data from Benzinga Pro.