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Investing.com -- Celsius Holdings (NASDAQ:CELH) saw its shares tumble 7% in premarket trading Tuesday after the beverage maker reported first-quarter results that missed expectations for both top and bottom lines.
The company posted Q1 earnings per share (EPS) of $0.18, missing the consensus projection of $0.20. Revenue for the period declined 7.4% year-over-year to $329.3 million, also below the expected $348.62 million.
“Celsius navigated a dynamic operating environment in the first quarter while continuing to invest in our core brand, product innovation and operational scale. We saw business fundamentals strengthen through the quarter and are encouraged by the positive momentum heading into Q2," John Fieldly, Chairman and CEO of Celsius Holdings, said.
"With the Alani Nu acquisition now closed, continued gains in retail shelf space, and strong international growth across both legacy and new markets, we are confident in our growth strategy, and we believe that we are well-positioned as a leader in modern energy," he added.
North America sales declined 9.7% year-on-year to $306.5 million, missing the $318.4 million estimate. In contrast, international revenue rose 41% to $22.8 million.
Gross margin improved to 52.3%, up from 51.2% a year earlier and ahead of the projected 49.6%. Adjusted EBITDA came in at $69.7 million, marking a 21% decline from the prior year.