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Celsius Holdings sells CELSIUS, Alani Nu and Rockstar energy drinks to consumers seeking energy and an active lifestyle. It also offers wellness products, but functional beverages generate most of its revenue, and the U.S. and Canada account for the great majority of sales. It outsources most production to contract manufacturers and reaches consumers through stores and online retailers.
Distributors, wholesalers and retailers pay Celsius for finished products. Pepsi is its primary distributor in the U.S. and Canada and a customer that supplies a large share of revenue. Their U.S. agreement gives Celsius a greater say in shelf placement and promotional priorities within Pepsi’s network, but sales depend heavily on Pepsi’s execution and continued relationship with the company.
The business also depends on contract manufacturers keeping products available and on consumers continuing to choose its brands. Advertising and labels must comply with rules governing the accuracy and support for product claims; these rules constrain how Celsius can market its beverages.
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Celsius depends on energy-drink demand and PepsiCo’s distribution, but investors should also watch privately held rival Red Bull, which is absent from this list.
Monster Beverage competes with Celsius for energy-drink buyers and retail shelf space, selling Monster, Reign and Bang primarily to bottlers and beverage distributors. Sales of those brands are the part of Monster’s business to watch for competitive pressure on CELSIUS, Alani Nu and Rockstar.
Celsius relies on PepsiCo to buy and distribute its energy drinks: sales to Pepsi accounted for 43.2% of Celsius’s revenue in 2025, although PepsiCo’s own beverages also compete for consumers’ spending. Watch how PepsiCo prioritizes Celsius’s portfolio in its U.S. distribution network, particularly shelf placement and promotions.
Keurig Dr Pepper competes with Celsius through GHOST, C4 Energy and Bloom beverages that it sells or distributes to bottlers, distributors and retailers. Those brands’ performance is more relevant to Celsius’s energy-drink portfolio than Keurig Dr Pepper’s broader beverage sales.
Ardagh Metal Packaging S.A. supplies Celsius with beverage cans, making its can business relevant to a principal input in Celsius’s energy drinks. Watch news on can costs and availability, while remembering that Celsius sources packaging from multiple suppliers and says it has no single-supplier dependence for its overall needs.
Coca-Cola competes with Celsius by selling beverages to retailers and distributors, and also earns fees from Monster, Celsius’s direct energy-drink rival, for coordinating distribution. Those Monster-related fees, reported within Coca-Cola’s geographic segments, are a specific line of revenue to watch for its connection to Celsius’s competition.
Ardagh Metal Packaging S.A. earningsAMBP
Ardagh Metal Packaging’s report will show how can costs and availability are changing, a signal for what Celsius and its co-packers may pay and whether they can secure packaging.
Watch Ardagh’s can costs and supply. Easing costs and reliable supply would point to less packaging-cost or disruption pressure for Celsius and its co-packers; rising costs or tighter supply could raise expenses or slow production. Celsius uses multiple suppliers, so Ardagh is a signal, not proof of an overall can shortage.
Fed Interest Rate Decision
For Celsius, the Fed’s rate decision signals whether borrowing costs across the economy may rise or fall, affecting interest paid on its variable-rate debt and the cash left for its beverage business.
Expected4.0%Last release4.0%
If it comes in above expectations
If rates rise more than expected, Celsius may pay more interest on debt whose rate resets, leaving less cash for inventory, equipment and other business needs.
If it comes in below expectations
If rates fall more than expected, Celsius may pay less interest on debt whose rate resets, leaving more cash for inventory, equipment and other business needs.
Celsius Holdings, Inc. earningsThis company
Celsius’s report will show whether sales of CELSIUS, Alani Nu and Rockstar are growing without promotional allowances taking an equally large bite out of revenue and gross profit.
Read revenue growth alongside promotional allowances, then check gross margin—the share of sales left after product costs. Revenue growing faster than allowances with margin holding would suggest retailers and consumers are taking the broader portfolio without requiring equally heavy discounts. Allowances rising as fast as or faster than revenue, or margin falling, would mean growth is costing more in promotions or product costs and leaving Celsius less gross profit per sale.
Retail Sales MoM (Oct)
Retail sales track consumer spending in stores; for Celsius, stronger or weaker spending can flow through grocery, convenience and club retailers to orders for its CELSIUS, Alani Nu and Rockstar beverages and the revenue it earns from customers.
Stronger retail sales point to firmer consumer spending that may support orders for Celsius’s drinks and its customer sales; weaker sales point to softer spending that may weigh on orders and sales.
