Reviewing the AI-powered stock forecast that predicted Celsius Holdings as a top buying opportunity with 66.13% profit during a bearish market was a big winner.
Our AI-driven stock prediction system conducts an in-depth analysis of historical financial market anomalies attributed to trader overreaction and underreaction, generating daily forecasts in various timeframes from the short-term to long-term time horizons. Our AI-based stock forecast on March 27th, 2023, declared Celsius Holdings, Inc. (NASDAQ: CELH) as a Top 10 buy in the 3-month time horizon, resulting in a 66.13% profit for subscribers who purchased the stock based on our exclusive market insights. This prediction was available in multiple forecasts and other time frames. Celsius Holdings, Inc. (CELH) is a rapidly growing company in the functional beverage industry, which has garnered significant attention from investors in recent years. CELH’s primary product line consists of a range of fitness drinks, which are marketed as being “thermogenic,” meaning that they increase metabolic rate and burn calories. The company has also expanded into other categories, including powders and ready-to-drink cans.
CELH 90-Day Stock Prediction
As a subscriber, you can identify more opportunities by monitoring regularly recurring stock picks in the AI predictions. Another sign is stock picks appearing in several anticipated time periods, especially in daily predictions released each morning EST. Not only does the growthtech.ai analytics give you stock recommendations but it also gives you Signal Confidence (SC),. Based on the historical accuracy of each prior financial asset forecast as well as current market variables important to stock price, the AI system calculates the Signal Confidence (SC), which is stated as a percentage out of 100%. In this stock prediction, the Signal Confidence (SC) was 73%.
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CELH First Record-Breaking Quarter Earnings
Celsius Holdings, Inc. (CELH) recently announced its financial results for the first quarter of 2023, reporting record revenue of $260 million, up 95% from $133 million in the prior year's first quarter. The company’s North American revenue increased 101% to $249 million, driven by increases in distribution points and SKUs per location as well as some benefit from increased days inventory outstanding at the mixing centers of its largest distributor. International revenue also increased approximately 15% to $11.4 million, driven in large part by the addition of a number of flavor innovations.
The company's gross profit for the first quarter of 2023 was $114 million, up 111% from $54 million in the prior year's first quarter. Gross profit as a percentage of revenue was 43.8% for the three months ending March 31, 2023, up from 40.4% in the prior year's first quarter. Overall, gross profit margin improvements were driven by the reduced mix of international cans and cost savings initiatives, offset in part by some additional inventory write-offs and freight expenses as Celsius continues to integrate into the PepsiCo distribution system and build a best-in-class supply chain across the United States.
The net income attributable to common stockholders totaled $34.4 million, or $0.40 per diluted share, compared to a net income of $6.7 million, or $0.09 per diluted share in the prior year's first quarter. Additionally, the non-GAAP adjusted EBITDA increased 229% to approximately $49 million, compared to $15 million in the prior year's first quarter benefiting from significant revenue growth and improved gross margins as well as increased leverage across SG&A which benefited from the timing of the company's summer launches.
Furthermore, the company had $634 million in cash and cash equivalents as of March 31, 2023, compared to $26 million on March 31, 2022. This indicates the company has ample financial resources to fund its growth initiatives going forward.
“During the first quarter of 2023, Celsius delivered an all-time quarterly record revenue of $260 million in sales and over $34 million in net income, driven by expanded availability and increased consumer awareness. In addition, we continue to further transition into PepsiCo’s best-in-class distribution system..."
- John Fieldly, President and Chief Executive Officer.
Fieldly further noted that "Celsius’ share in the Energy Drink Category per SPINS IRI Total Mulo+C, for the 4 weeks ending 3/26/23, totals 7.5% market share, doubling from the prior year period and demonstrating Celsius warrants increased distribution and availability. Looking ahead, we have plans in place and initiatives underway to further leverage our expanding distribution and continue to build our global brand equity." In conclusion, Celsius Holdings, Inc. (CELH) has reported impressive financial results for the first quarter of 2023, driven by significant revenue growth and improved gross margins. With its strong financial position and successful expansion into PepsiCo's distribution system, Celsius appears to be well-positioned for continued growth in the energy drink market.
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Sources: 1. Celsius Holdings Investor Relations, "Celsius Holdings Announces First Quarter 2023
Financial Results" (2023)
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