🌡️ Celsius Turns Up the Heat

The number-three U.S. energy brand brought the heat in Q1 as Celsius bested expectations in its latest earnings report this morning, announcing 37% revenue growth to $355.7 million and record first quarter gross profit of $182.2 million – a 60% increase.

🔋 As of April 14, the Florida-based brand held an 11.5% share in the U.S. energy drink market in MULO and convenience stores, up one point from Q4 2023 and roughly four points higher from Q1 2023.

📦 Club channel sales were among the strongest growth drivers, representing $63 million (+36%) in the quarter, while Amazon grew 30% to $28 million and case volume in foodservice jumped 186% thanks to the brand’s distribution agreement with PepsiCo.

🗣️ What they’re saying: “Our category share … reflects the early impact of shelf space gains that we are earning from company-record and ongoing retailer resets, which we believe will serve as a flywheel for our continued growth,” said CEO John Fieldly in a statement.

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FedUp Foods, one of the largest fermented beverage manufacturers in North America, announced it will be opening a new manufacturing facility late this summer in Wilmington, North Carolina. This will be the private-label kombucha, tepache, and prebiotic and probiotic soda makers third production plant.

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