Market Insider

SodaStream shares surge 16 percent after earnings, sales beat

An employee uses a forklift to prepare pallets of SodaStream products for export at the SodaStream International factory in Mishor Adumim, Israel.
Ariel Jerozolimski | Bloomberg | Getty Images

Shares of SodaStream climbed 16.22 percent on Thursday after releasing third-quarter earnings that easily topped Wall Street expectations.

SodaStream reported earnings of 69 cents per share for its third quarter, beating analyst's estimates of 23 cents per share, according to a consensus estimate from Thomson Reuters. The company also blew past revenue expectations, reporting a sales rise of 12.9 percent to $124.2 million, compared to Wall Street predictions of $115 million.

Additionally, the company's EBITDA skyrocketed 140.6 percent to $23.3 million, compared to $9.7 million in last year's third quarter.

According to a statement released on Thursday, SodaStream CEO Daniel Birnbaum said he attributes the third quarter performance to an increase in sparkling water maker sales.

"Our top-line performance included a 23 percent increase in sparkling water maker unit sales to 788,000, our highest quarterly figure in nearly two years," Birnbaum said. "During the third quarter, our home carbonation system was used to produce and consume more sparkling water than any other brand worldwide, which resulted in an all-time quarterly record 7.7 million gas refills."

Before it released its third-quarter earnings report, the company closed Wednesday at $28.12.