- Russ Savage now controls 12 million shares of Celsius Holdings, amounting to roughly 4.7% of the company, as he disclosed to CNBC.
- Celsius reported a Q2 2026 earnings miss on Thursday, with adjusted EPS of $0.36 vs. $0.43 expected and revenue of $817.9 million below estimates.
- Celsius shares plunged 18% on Thursday after the earnings miss, reflecting investor concerns.
- Savage called for CEO John Fieldly's ouster and offered himself as a replacement, citing management missteps.
- Celsius stock surged 11.1% in mid-day trading on Friday following Savage's disclosure, bouncing off a 52-week low.
- Savage started acquiring his most recent stake in Celsius in March when the stock fell to the low $30 range, believing it was undervalued.
- Several analysts downgraded or trimmed price targets on Friday following the earnings miss.
Russ Savage, founder of Rockstar Energy, has acquired a 4.7% stake in Celsius Holdings, controlling 12 million shares valued at approximately $300 million. Following a disappointing earnings report, where Celsius reported an adjusted EPS of $0.36 against a consensus of $0.43, Savage is calling for the ouster of CEO John Fieldly and has offered himself as a replacement.12357
Celsius shares plunged 18% after the earnings miss, with revenue of $817.9 million falling short of the expected $870 million. Fieldly attributed the shortfall to a product rationalization program and a deliberate pause in innovation. Savage criticized the current leadership, stating, "The CEO, the COO, the brand manager and the marketing manager all need to be fired," and emphasized the need for accountability, saying, "They need one person making the decisions, paying attention to every detail, not a group of people in a firing squad."4
Despite the negative analyst sentiment, including downgrades from Roth Capital and Maxim, Savage's activist disclosure led to a 11% surge in Celsius stock, bouncing off a 52-week low. The stock reached as high as $27.44 before settling around $26.42. Analysts noted that Savage's experience in the energy drink industry could be a pivotal factor in the company's future.6
Celsius's flagship brand saw a revenue decline of 11.7% year-over-year, attributed to inventory rebalancing and softness in the club channel. Savage warned that without swift leadership changes, Celsius risks losing critical shelf space to competitors.
“Savage's stake is worth about $300 million at current levels, and he argues Celsius has too many management layers and risks losing shelf space to rivals like Red Bull. Celsius shares had plunged 18% on Thursday after missing Q2 earnings, with adjusted EPS of $0.36 versus $0.43 expected.”
CNBC
