Celsius’ first quarter results drew a positive market reaction despite falling short of Wall Street’s top- and bottom-line expectations. Management attributed the revenue decline primarily to slower product velocity, shifts in the timing and structure of distributor incentives, and increased retail promotional activity. CEO John Fieldly highlighted that the company was facing difficult comparisons to the prior year, which included the nationwide launch of CELSIUS ESSENTIALS and elevated retail promotions. Fieldly noted, “We saw business fundamentals strengthen through the quarter and are encouraged by the positive momentum heading into Q2.”

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While we enjoy listening to the management's commentary, our favorite part of earnings calls are the analyst questions. Those are unscripted and can often highlight topics that management teams would rather avoid or topics where the answer is complicated. Here is what has caught our attention.

Our Top 5 Analyst Questions Celsius’s Q1 Earnings Call

• Kaumil Gajrawala (Jefferies) asked about the continued strength of the energy drink category and drivers behind velocity. CEO John Fieldly described health and wellness trends and category innovation as key factors.
• Peter Grom (UBS) inquired about the drivers of first quarter sales decline in North America. Fieldly and CFO Jarrod Langhans explained that slower velocity, distributor incentives, and promotional timing were the primary contributors.
• Kevin Grundy (BNP Paribas) questioned Celsius’ pricing strategy amid mixed industry dynamics. Fieldly said the company took price in Q4 but remains cautious about further increases due to shifting consumer purchase behaviors.
• Jon Andersen (William Blair) asked for details on shelf space expansion and the impact for both Celsius and Alani Nu. Fieldly cited gains in secondary placements and excitement about Alani Nu’s distribution momentum, particularly among female consumers.
• Andrea Teixeira (JPMorgan) sought clarification on Costco performance and the impact of allowances and destocking. Langhans stated that scanner data for Costco was up, with timing and promotional allowances impacting reported revenue, but no major destocking was observed.

Catalysts in Upcoming Quarters

In the coming quarters, our analysts will closely track (1) the integration progress and performance of Alani Nu within Celsius’ broader portfolio, (2) the effectiveness of new marketing campaigns and their impact on product velocity, and (3) ongoing shelf space expansion efforts, including secondary placements and foodservice channel growth. The trajectory of gross margins and adaptability to potential cost pressures will also be key indicators of future execution.

Celsius currently trades at $44.44, up from $33.95 just before the earnings. Is there an opportunity in the stock?Find out in our full research report (it’s free).

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