Summary by Moomoo AI
On November 6, 2024, Celsius Holdings, Inc. (Nasdaq: CELH) released its financial results for the third quarter and the first nine months of 2024. The company reported a significant decrease in quarterly revenue to $265.7 million, a 31% drop from the previous year's $384.8 million. This decline was attributed to a supply chain optimization by the company's largest distributor. Despite this, year-to-date revenue surpassed $1 billion, marking a 5% increase over the previous year. Gross margin for the quarter fell to 46.0%, a decrease from the prior year's 50.4%, largely due to promotional allowances and inventory optimization impacts. Net income plummeted by 92% to $6.4 million for the quarter, while diluted earnings per share broke even at $(0.00), down from $0.30 in the same quarter of the previous year...Show More
