Celsius Holdings, Inc. (NASDAQ:CELH) Q3 2019 Earnings Conference Call Transcript
Nov 07, 2019 • 10:00 am ET
Greetings and welcome to Celsius Holdings Third Quarter 2019 Earnings Conference Call. [Operator Instructions]
It is now my pleasure to turn the conference over to your host Cameron Donahue of Hayden IR.
Thank you. You may begin. Thank you and good morning everyone. We appreciate you joining us today for Celsius Holdings Third Quarter Earnings Conference Call. Joining on the call today are John Fieldly President and Chief Executive Officer; and Edwin Negron Chief Financial Officer. Following prepared remarks we'll open the call to your questions and instructions will be given at that time. The company follows Form 10-Q with the SEC and issued a press release today. All materials are available on the company's website at celsiusholdingsinc.com under the Investor Relations section. As a reminder before I turn the call over to John the audio replay will be available later today. Please also be aware that this call may contain forward-looking statements which are based on forecast expectations and other information available to management as of today November 7 2019. These statements involve numerous risks and uncertainties including many that are beyond the company's control. Except to the extent as required by applicable Celsius Holdings undertakes no obligation to disclaims any duty to update any of these forward-looking statements. We encourage you to review in full our safe harbor disclosures contained in today's press release and our quarterly filings with the SEC for additional information.
With that I'd like to turn the call over to our President and Chief Executive Officer John Fieldly for his prepared comments. John?
Thank you, Cameron and welcome everyone and thank you for joining us today. Our third quarter 2019 financial results reflect the outstanding work our team is doing to drive higher volumes through deeper replacements and existing and new accounts as well as leveraging our infrastructure to improve profitability all while demand for Celsius continues to rise. We are capitalizing on the accelerated macro industry trends for healthy better-for-you products that are driven by the growing demand by health mining consumers looking for healthier alternatives to conventional products. We are seeing great demand for the Celsius portfolio and are outpacing many larger more established brands as we position ourselves as a leader in functional energy drinks through our health and fitness routes providing proven functional energy differentiating ourselves from the competition. As we continue our expansion further in traditional retail we are seeing higher velocity rates and greater consumer acceptance in each step we take which is further increasing our optimism. Our active healthy lifestyle position is a global position with mass appeal. For the third quarter of 2019 we delivered a record $20.4 million in revenue with double-digit revenue growth of more than 20% with a positive net income of approximately $1 million or $0.02 per share.
Our record third quarter revenue came in versus a comparable period in 2018 where we had a $1.3 million and sales from the second quarter of 2018 and to the third quarter of 2018 in