Celsius Holdings (CELH) Stock Falls 16% After Q2 Earnings Miss

TLDR

• CELH fell over 16% premarket after Q2 earnings missed on both EPS and revenue
• Adjusted EPS came in at $0.36, missing the $0.43 consensus by $0.07
• Revenue of $817.9M missed estimates of $885.98M, despite rising 11% year-over-year
• The Celsius brand itself saw revenue fall 11.7% year-over-year in the quarter
• Alani Nu was a bright spot, with retail sales surging 55.7% year-over-year

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Celsius Holdings (CELH) dropped more than 16% in premarket trading on Thursday after the company posted Q2 results that fell short of Wall Street expectations on both the top and bottom lines.

Celsius Holdings, Inc., CELH

The stock was trading around $24.27 premarket, down from a 52-week high of $66.74.

Adjusted EPS landed at $0.36, missing the analyst consensus of $0.43 by $0.07. Revenue came in at $817.9 million, below the $885.98 million estimate, though that figure still represents 11% growth from $739.3 million in the same period last year.

CELSIUS HOLDINGS $CELH Q2’26 EARNINGS HIGHLIGHTS

🔹 Revenue: $817.9M (Est. $870M) 🔴; +11% YoY
🔹 Adj. EPS: $0.36 (Est. $0.42) 🔴; -23% YoY
🔹 Adjusted EBITDA: $184.2M (Est. $196M) 🔴; -12% YoY
🔹 Portfolio Retail Sales: +31.0% YoY
🔹 Gross Margin: 48.1%; -340 bps YoY

Other Q2… pic.twitter.com/42xrRhzYqe

— Wall St Engine (@wallstengine) August 6, 2026

Adjusted EBITDA fell 12% year-over-year to $184.2 million, also missing the $198.4 million consensus.

The namesake Celsius brand had a tough quarter. Revenue dropped 11.7% year-over-year, hurt by higher trade and promotional spending, shipment timing tied to inventory rebalancing, softness in the club channel, and SKU optimization tied to recent acquisition integration.

Celsius brand retail sales were down 2% in the quarter, while Rockstar Energy slipped 13%.

Alani Nu Picks Up Some Slack

Alani Nu was the portfolio’s standout performer. The brand generated $364.4 million in sales during the quarter, boosted by strong consumer demand and increased orders as it transitioned into the PepsiCo (PEP) distribution system.

Alani Nu retail sales were up 55.7% year-over-year. The limited-time Purple Cotton Candy flavor also contributed to the brand’s momentum during the period.

Rockstar Energy added $66.5 million in revenue for the quarter.

Gross margin contracted to 48.1%, down from 51.5% in the same quarter a year ago. The company attributed this to higher promotional activity and channel mix, with aluminum cost inflation adding pressure.

International Growth Stays Positive

International revenue rose 10% to $27.2 million, with Nordic markets and newer expansion territories including the UK, Ireland, France, and Australia driving the gains.

North America revenue was up 11% to $790.7 million.

CEO John Fieldly pointed to the portfolio’s broader positioning. “With two billion-dollar brands and roughly one in five energy drinks sold in the United States coming from our portfolio, we are a key growth engine for the category,” he said.

The company’s portfolio held approximately 20.1% dollar share in the U.S. ready-to-drink energy category during the quarter.

CELH also contributed roughly 30% of the zero-sugar U.S. energy category’s $640 million growth in the period.

PepsiCo, which holds an 11% stake in CELH, was up 0.5% in premarket trading following the report.

CELH was trading around $24.27 premarket at the time of reporting, well below its 52-week high.