Published on 15 Oct 2024 on Benzinga
Celsius Holdings, Inc. CELH shares are slightly lower on Tuesday. Bank of America, in a note, maintained its estimate for Celsius’ 2024 fiscal year third quarter sales at $289 million, citing inventory issues.
The Details: The firm’s lower sales estimate reflects “too much inventory,” resulting in a $110 million hit to sales. Additionally, Bank of America noted that Celsius is currently working to reduce excess inventory that it has accumulated due to slower growth.