SodaStream Drops Most in Six Months as Unit Sales Slow
Stock Chart for SodaStream International Ltd (SODA)
SodaStream International Ltd. (SODA) had its steepest drop in six months after the Israeli company said sales of its soda machines grew at a slower pace than in the previous period.
Shares of the Airport City, Israel-based company plummeted 14 percent to $40.75, the largest decline since Aug. 16. SodaStream said global soda maker unit sales rose 8 percent to 767,000 in the fourth quarter after increasing 60 percent in the third quarter.
“Until we have further clarity on the deceleration in soda maker unit sales we see reason for pause,” Stifel Nicolaus analyst Jim Duffy wrote in an e-mailed report today.
Fourth-quarter revenue increased 32 percent to 66.1 million euros, beating a 60.9 million euro ($88.4 million) average estimate of seven analysts in a Bloomberg survey.
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