In short: Alani carries the portfolio. Q2 revenue +11% Y/Y to $818M — a $52M miss — with adjusted EPS $0.36 ($0.06 miss) and adjusted EBITDA −12% to $184M. The acquired brands are doing the work: Alani Nu revenue +21% to $364M with retail sales surging 56%, and Rockstar contributing another $66M post-integration — while the core Celsius brand fell 12% Y/Y, versus +6% in Q1 (retail sales declined a more modest 2%, the gap reflecting inventory rebalancing, higher promotions and shipment timing). Management admitted the SKU cleanup went too far, aggressively removing weaker flavors while slowing new launches and "creating shelf and inventory disruption just as competition intensified," with the club channel a further weak spot as Costco's private-label energy drink pressured sales; the core brand is now expected to stay soft through Q3 before returning to growth exiting 2026. Margins are also slower to heal — gross margin flat sequentially at 48%, down from 52% a year ago on aluminum, freight and promotional spending — and are now guided to stay in the high 40s in Q3, pushing out the expected H2 recovery. "The portfolio itself is healthy, but the core brand has a real execution problem." A disclosed author holding.
Celsius sells energy drinks. Revenue grew 11% to $818 million — but missed expectations by $52 million, earnings missed too, and profit fell 12%.
The headline growth is entirely borrowed from acquisitions. Alani Nu, the brand Celsius bought, grew 21% with retail sales up 56%, and Rockstar added another $66 million. Meanwhile the original Celsius brand shrank 12%, having grown 6% just one quarter earlier.
Management admitted why, which is unusually candid. It had cut a lot of weaker flavours from the range to simplify the business, and slowed down new launches at the same time. The result was gaps on shop shelves and disrupted inventory precisely when competitors were pushing hardest. It also lost ground in warehouse clubs, where Costco's own-brand energy drink is taking sales.
Margins are healing more slowly than promised too — 48 cents of gross profit per dollar of sales, down from 52 a year ago, squeezed by aluminium, freight and heavy discounting, and now expected to stay there through the next quarter rather than recovering in the second half as previously indicated.
The conclusion is that the group of brands is fine, but the flagship has a self-inflicted execution problem that management doesn't expect to fix until it exits 2026. The author owns it; analysis, not a recommendation.
In short: A held consumer-growth name he has been reducing — "Celsius, where we've trimmed Celsius" — reporting Thursday pre-market.
Full passage: premium transcript (PDF).
In short: Asset reference — PEP owns ~11% of Celsius, "a big name in the energy-drink space," cited as part of PEP's "consumer staple = win" verdict; not a standalone call on CELH.
Nothing matches this filter.
Verbatim excerpts from the public transcripts (auto-pulled at each mention's timestamp, lightly cleaned). Timestamps link into the video; "source page" opens that commentator's full analysis at this row. Click a mention's header line to expand it (one open at a time). For personal study — not investment advice.