Celsius Holdings IncMissed revenue estimates by 6.2% with $817.9 million, a 10.6% rise, indicating weaker demand.
The beverages, alcohol, and tobacco sector reported a mixed second quarter, with aggregate revenues beating analyst consensus by 1% while next-quarter revenue guidance came in 2.2% above expectations. Altria posted revenue of $5.36 billion, up 1.2% year-on-year and in line with estimates, but its stock fell 8.9% since the report. Vita Coco delivered the best performance of the group, with revenue of $216.2 million, a 28.1% increase that exceeded expectations by 3%, and it raised full-year guidance, though shares still dropped 16.4%. Celsius was the weakest, missing revenue estimates by 6.2% with $817.9 million, a 10.6% rise, and its stock declined 5.8%. Constellation Brands beat revenue expectations by 1.6% with $2.43 billion, down 3.3% year-on-year, but issued the weakest full-year guidance update among peers, and its shares slipped 2.4%. PepsiCo surpassed revenue estimates by 0.8% with $24.18 billion, up 6.4%, yet its stock fell 2.3%.
Celsius Holdings IncMissed revenue estimates by 6.2% with $817.9 million, a 10.6% rise, indicating weaker demand.
Vita Coco Company IncRevenue up 28.1% to $216.2 million, beating expectations by 3%, and raised full-year guidance.
Altria GroupRevenue in line but stock fell 8.9% since report, likely due to earnings reaction.
Constellation Brands Inc Class ABeat revenue expectations but issued weakest full-year guidance, shares slipped 2.4%.
PepsiCo IncBeat revenue estimates but stock fell 2.3%, possibly due to guidance or market reaction.