Second quarter revenue for SodaStream was up more than 31% as strong growth in sparkling water maker units were cited by company officials as a key driver of sales.
For the three month period ended June 30, total revenue was $171.5 million, up from sales of $130.6 million in the comparable quarter the previous year. Net income was $26.1 million, up from net income of $14.4 million in the prior year.
Sales of sparkling water maker starter kits were up 38.3% while sales of consumables were up 25.8%.
“The product, distribution and marketing initiatives we are executing across our global portfolio of markets continue to propel our business to new heights and strengthen our foundation for future growth,” said Daniel Birnbaum, CEO of SodaStream. “These results underscore the progress we are making towards our primary strategic objectives of expanding household penetration and increasing usage of our home carbonation system.”
For the remainder of the fiscal year, the company now expects full-year revenue to increase approximately 23% over 2017 revenue, up from its previous guidance of approximately 15%. Operating income for 2018 is now expected to increase approximately 44% over 2017 operating income, compared to its previous guidance of approximately 15%. Diluted earnings per share are now expected to increase approximately 31% over 2017, compared to its previous guidance of an approximate 8% increase.