Celsius Q3 revenue falls 31% to $265.7M; EPS turns negative; cites distributor destocking

Celsius Holdings, Inc.

2024-Q3 EPS reported $0.55 revenue$1,023,433,000

North America revenue $247.1M, down 33% YoY; international up 37% to $18.6M.
GAAP net income $6.4M vs $83.9M; diluted EPS ($0.00) vs $0.30; adjusted EBITDA $4.4M vs $103.6M.
Gross margin contracted 440 bps to 46.0%, hurt by supply chain optimization by its largest distributor.
YTD 2024 revenue surpassed $1B ($1,023.4M), up 5% from $970.6M; net income down 7% to $164M.
Co-packer acquisition completed to enhance innovation and manufacturing capabilities.

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