It was a strong start to the year for SodaStream as the sparkling beverage maker supplier reported double-digit growth company-wide in the first quarter.
For the three months ending March 31, company sales were $143.6 million, an increase of 24.6% when compared to the first quarter of the previous year. Sales of sparkling water maker starter kits were up 23.1% while sales of consumables were up 27.4%.
By geography, sales in Western Europe were $85.3 million, up 21.8%; and sales in the Americas were $35.5 million, up 39%.
For 2018, the company currently expects full-year revenue to increase approximately 15% over 2017 revenue, up from its previous guidance of approximately 12%. Operating income for 2018 is expected to increase approximately 15% over 2017 operating income, compared to previous guidance of approximately 10%.
Diluted earnings per share are now expected to increase approximately 8% over 2017. This compares to the previous guidance for diluted earnings per share to increase approximately 5%.