Nikada
Select beverage stocks rallied on Thursday after strong earnings reports were turned in by Celsius Holdings (NASDAQ:CELH) and Monster Beverage (NASDAQ:MNST) during the premarket session.
Celsius Holdings (CELH) was up 8.85% in morning trading on high volume. The stock was showing a double-digit gain before being halted by the Nasdaq for volatility. The company showed sizzling sales growth once again with its Q4 earnings report. The Boca Raton, Florida-based company reported revenue soared 95% year-over-year to $347M. North America revenue was up 97% during the quarter, driven by expansion in total distribution points and higher SKUs per location. International revenue increased 68% to $14.6M, driven in large part by new flavor launches, product availability and increased velocity. Celsius Holdings (CELH) carved out a new all-time high of $77.85 earlier in the session.
Meanwhile, Monster Beverage (MNST) rallied 5.15% after posting 15% revenue growth for Q4 and seeing a 30% pop in its sales of beverage products with alcohol. Monster Beverage (MNST) traded as high as $60.07 earlier in the session. During the company's earnings call (transcript), MNST management pointed to a robust innovation plan for 2024. "The Beast Unleashed is performing to expectations. We're excited for Nasty Beast Hard Tea as well as the additional alcohol opportunities that Monster Brewing Company presents," observed CEO Rodney Sacks.
Investors are also taking notice of other smaller beverage stocks such as Vita Coco (COCO) +2.95%, Zevia PBC (ZVIA) +1.90%, National Beverage Corp. (FIZZ) +1.58% - although sector giants PepsiCo (PEP) and Coca-Cola (KO) were both in negative territory.