Welcome to our dedicated page for Monster Beverage Corporation news (Ticker: MNST), a resource for investors and traders seeking the latest updates and insights on Monster Beverage Corporation stock.
Monster Beverage Corporation (NASDAQ: MNST), headquartered in Corona, California, is a leading player in the energy drink subsegment of the nonalcoholic beverage market. The company's extensive portfolio includes well-known brands such as Monster Energy, Monster Ultra, Java Monster, and Juice Monster. Additionally, Monster owns other energy drink brands like Reign, NOS, Burn, and Mother. Expanding its horizons, the company also ventured into the alcoholic beverage market with its acquisition of a craft brewer in 2022, producing and distributing beers and flavored malt beverages.
Monster Beverage operates under a unique business model where it focuses on branding and innovation while outsourcing the manufacturing and packaging of its products to third-party copackers. The distribution of finished goods is managed through a global partnership with The Coca-Cola Company, pursuant to a 20-year agreement inked in 2015. Coca-Cola is Monster's largest shareholder with a 19.5% stake.
Financially, Monster Beverage has shown robust performance. In the fourth quarter of 2023, the company reported a 14.4% increase in net sales to $1.73 billion compared to the same period the previous year. This growth was driven primarily by the Monster Energy® Drinks segment, which saw a 15.1% increase to $1.60 billion. Despite unfavorable foreign currency exchange rates impacting net sales by $27.1 million, the adjusted net sales showed a resilient increase of 16.1%.
The company's Strategic Brands segment, which includes various energy drink brands acquired from The Coca-Cola Company, as well as affordable energy brands Predator® and Fury®, experienced a slight decrease in net sales. However, on a foreign currency adjusted basis, the segment showed a 7.7% increase. In the Alcohol Brands segment, net sales surged by 30.6% to $35.2 million, driven by products like The Beast Unleashed®.
Monster's international presence is also growing, with net sales to customers outside the United States increasing by 17.4% to $637.0 million in the fourth quarter of 2023. The company continues to expand its reach, recently reporting an 11.8% increase in net sales for the first quarter of 2024, reaching $1.90 billion. This growth reflects the company's strategic initiatives and strong brand equity in the market.
Monster Beverage remains committed to innovation and social responsibility. The company's philanthropic arm, Monster Energy Cares, supports various community initiatives, including partnerships with organizations like the High Fives Foundation, which aids adaptive athletes and veterans.
For more information, visit www.monsterbevcorp.com.
Monster Energy sponsors the annual Baja Beach Bash, an off-road riding event organized by Cameron Steele in Mexico's Baja California peninsula. The event has raised over $2 million for the Rancho Santa Marta Orphanage over the past 16 years. Initially started to promote tourism in Baja during a period of negative press, the Beach Bash evolved into a significant charitable initiative. Monster Energy's sponsorship was instrumental in expanding the event's reach and impact. The event combines off-road racing with community support, featuring stops at the orphanage where participants interact with local children.
Monster Beverage (MNST) reported Q3 2024 financial results with net sales increasing 1.3% to $1.88 billion. Net income decreased 18.1% to $370.9 million, with diluted EPS of $0.38 compared to $0.43 in Q3 2023. The Monster Energy Drinks segment saw a 0.8% increase to $1.72 billion, while Strategic Brands grew 14% to $112.6 million. Foreign currency exchange rates negatively impacted results by $62.8 million. The company implemented a 5% price increase on most brands effective November 1, 2024. Gross profit margin improved to 53.2%, though operating expenses increased to $519.9 million, partly due to Hansen Expenses of $17.9 million.
Monster Beverage (NASDAQ: MNST) has announced it will report its third quarter 2024 financial results on Thursday, November 7, 2024, after market close. Co-CEOs Rodney Sacks and Hilton Schlosberg will host an investor conference call at 2 p.m. Pacific Time to discuss the company's financial results and operations. The call will be accessible via live audio webcast at www.monsterbevcorp.com and will be archived for approximately one year.
Monster Beverage 's 2023 Sustainability Report highlights significant achievements and ongoing efforts in environmental stewardship and social responsibility. The company committed to the Science Based Targets initiative (SBTi) to set emissions reduction targets aligned with a 1.5-degree pathway. Monster also joined the Beverage Industry Environmental Roundtable (BIER) to enhance sustainability initiatives.
Key environmental progress includes installing solar panels at four company-owned buildings and implementing the EcoBeast™ platform for comprehensive data collection across operations and supply chain. In social aspects, Monster completed approximately 20,000 hours of training via Monster University and recruited 803 participants in their mentorship program.
The company's philanthropic efforts resulted in 2,715 volunteer hours through their employee Volunteer Time Off program. Monster Beverage 's commitment to sustainability aligns with their business growth, achieving 9.6% growth in energy drink case sales and a 36.9% increase in net income in 2023.
Monster Energy has announced its sponsorship of the fifth annual Call of Duty Endowment (C.O.D.E.) Bowl, contributing $500,000 to support veteran employment. The event, scheduled for August 28th, 2024, will feature military esports teams competing for the C.O.D.E. Bowl trophy. Monster Energy will also present a 'Monster Energy MVP' award to an outstanding player.
The Call of Duty Endowment, celebrating its 15th year, has placed over 125,000 veterans in jobs since 2009, with an average starting salary of $70,000. Last year's contribution from Monster Energy resulted in 809 veterans finding high-quality jobs, creating a $57 million economic impact in first-year salaries.
The event will be livestreamed on YouTube and Twitch, preceding the release of Call of Duty: Black Ops 6 on October 25th, 2024.
Monster Beverage (NASDAQ:MNST) has announced a new $500.0 million share repurchase program authorized by its Board of Directors. This comes as the previously authorized repurchase program has been fully utilized. The company plans to execute these repurchases through various methods, including open market transactions and privately-negotiated deals, subject to applicable regulations.
The timing of the share repurchases will be influenced by market conditions and other factors, with the possibility of suspension or discontinuation at any time. This move demonstrates Monster Beverage's commitment to enhancing shareholder value and confidence in its financial position.
The Warrior Built Foundation, founded by Nick Hamm, a 20-year Marine Corps veteran, helps combat veterans readjust to civilian life through vocational training, recreational therapy, and mental health services. The nonprofit, based in Lake Elsinore, California, focuses on auto mechanics and mechanical fabrication, providing veterans with free access to tools and equipment. Monster Energy has been a key supporter for over a decade, funding a facility with a full-time instructor and sponsoring all-veteran teams in off-road motorsport races like the Score International Baja 1000. Warrior Built's recreational therapy involves action sports and events that boost motivation and adrenaline, emphasizing teamwork similar to military operations. The organization faces challenges in outreach and fundraising but continues to make a significant impact with support from partners like Monster Energy.
Monster Beverage (NASDAQ: MNST) reported its 2024 Q2 results, showing a 2.5% increase in net sales to $1.90 billion. Adjusted for adverse foreign currency impacts, net sales grew by 7.4%. The Monster Energy Drinks segment saw a 3.3% rise to $1.74 billion. The Strategic Brands segment rose 9.6% to $109.2 million, while the Alcohol Brands segment fell 31.9% to $41.6 million.
Gross profit margin improved to 53.6%, and net income increased by 2.8% to $425.4 million. Diluted EPS grew 5.0% to $0.41. Monster also completed a $3.0 billion share repurchase program, acquiring 56.6 million shares at $53 each. Additional shares were repurchased in later months, with a total expenditure of $299.9 million.
CEO Hilton Schlosberg highlighted lower growth rates in some markets but noted the resilience of the energy drink category. Positive trends include increased penetration and per capita consumption. Future price increases and product launches are planned to drive growth.
Monster Beverage (NASDAQ: MNST) has announced that it will report its financial results for the second quarter ended June 30, 2024 on Wednesday, August 7, 2024, after the market closes. The company's Co-Chief Executive Officers, Rodney Sacks and Hilton Schlosberg, will host an investor conference call at 2 p.m. Pacific Time on the same day to review the financial results and operations.
The call will be accessible to all interested investors through a live audio webcast on the company's website, www.monsterbevcorp.com. For those unable to attend the live broadcast, the call will be archived on the website for approximately one year.
Monster Energy has been supporting Paul Thacker, a Monster athlete who was paralyzed in a snowmobiling accident in 2010. Thacker founded the Paul Dean Thacker Spinal Cord Recovery Foundation to assist those with similar injuries and veterans. The foundation provides financial backing for spinal cord injury research and organizes events like snowmobiling and fishing to aid in veteran recovery.
Thacker has been with Monster since 2006 and describes his partnership with the brand as a family relationship. He runs numerous events each year for veterans, funded largely by Monster Energy. Over the years, the foundation has expanded, becoming a significant support system for veterans, many of whom now volunteer for the program. Thacker’s passion for outdoor activities like fishing and snowmobiling drives the foundation's mission to help veterans find new passions and cope with their challenges.
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