SodaStream's Stock Soars Toward 2-year High After Profit And Sales Beat Expectations
Shares of SodaStream International Ltd. shot up 12% in premarket trade Wednesday, putting them on track to open at the highest level since September 2014, after the sparkling water brand company beat third-quarter profit and sales expectations. Earnings for the quarter to Sept. 30 rose to $14.9 million, or 69 cents a share, from $2.2 million, or 11 cents a share, in the same period a year ago. The FactSet consensus for earnings per share was 24 cents. Revenue grew 13% to $124.2 million from $110.0 million, above the FactSet consensus of $116.5 million, with Western Europe sales rising 9% to $68.5 million and Americas sales increasing 14% to $26.2 million. "Our top-line performance included a 23% increase in sparkling water maker unit sales to 788,000, our highest quarterly figure in nearly two years, underscoring the growing strength of our business," said Chief Executive Daniel Birnbaum. The stock has rocketed 72% year to date through Wednesday, while the S&P 500 has gained 5.8%.
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