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SodaStream International shares jumped on Wednesday after the company announced its most successful quarter for earnings ever and more than tripled its forecast for a gain in full-year earnings per share.
Shares closed up 26.35 percent at $110.30 per share, having its best day in over two years.
The carbonated water machine maker reported earnings of $1.14 per share for the second quarter, crushing the Thomson Reuters estimate of 73 cents and nearly doubling earnings of 64 cents in the same quarter of last year. Revenue for the quarter was $171.5 million, well above the $149.1 million estimate of analysts tracked by Thomson Reuters.
"We are extremely pleased to be reporting the most successful quarter in our company's history," wrote CEO Daniel Birnbaum in a note to investors. "I believe we are now positioned better than ever to drive continued growth and increased shareholder value over the long-term."
Sales of sparkling water makers increased 22 percent, to over 1 million, during the quarter, while sales of gas refill units grew 17 percent, to a record 9.7 million. Birnbaum said this was boosted by the company's initiative to improve marketing on its home services.
The company said it expects earnings per share for 2018 to increase about 31 percent over 2017, more than tripling the previous estimate of an 8 percent increase.