Celsius Holdings IncRevenue beat expectations but stock fell 10.7% as investor hopes ran higher, indicating a negative market reaction to earnings.
The 13 beverages, alcohol, and tobacco stocks tracked reported a strong Q1, with revenues beating analysts' consensus estimates by 4.9% on average, though next quarter's revenue guidance came in 3% below. Celsius led the group with revenue growth of 138% year on year to $782.6 million, exceeding expectations by 2.6%, but its stock fell 10.7% as investor hopes ran higher. Vita Coco delivered the biggest analyst estimate beat, with revenue up 37.3% to $179.8 million, topping forecasts by 20.5%, and its stock surged 28.3%. Boston Beer was the weakest performer, with revenue down 4.4% to $433.9 million and a significant miss on adjusted operating income and EPS, sending its stock down 22%. Constellation Brands reported revenue of $2.43 billion, down 3.3% but beating estimates by 1.6%, while PepsiCo posted revenue of $19.44 billion, up 8.5% and surpassing expectations by 2.9%.
Celsius Holdings IncRevenue beat expectations but stock fell 10.7% as investor hopes ran higher, indicating a negative market reaction to earnings.
Vita Coco Company IncRevenue beat expectations by 20.5% and stock surged 28.3%.
Boston Beer Company IncRevenue declined 4.4% and missed on adjusted operating income and EPS, stock down 22%.
PepsiCo IncRevenue grew 8.5% and surpassed expectations by 2.9%.
Constellation Brands Inc Class ARevenue beat estimates by 1.6% despite a 3.3% decline.