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 Beverage Corporation (NASDAQ: MNST) will report its first quarter results for the period ending March 31, 2023, on May 4, 2023, after market close. The Co-CEOs, Rodney Sacks and Hilton Schlosberg, will host a conference call on the same day at 2 p.m. Pacific Time to discuss the financial results and company operations. Investors can access the call via a live audio webcast at www.monsterbevcorp.com. The conference call will also be archived for approximately one year.
Headquartered in Corona, California, Monster Beverage Corporation focuses on developing and marketing a wide range of energy drinks and other beverages, including popular brands like Monster Energy®, Reign, and Java Monster®.
Monster Beverage Corporation (NASDAQ: MNST) reported record fourth-quarter net sales of $1.51 billion, a 6.2% increase from the prior year. Adjusted for adverse foreign currency effects of $81.9 million, sales rose 11.9%. Gross profit margin was 51.8%, up from 51.3% in Q3 2022. The company launched new products like Monster Energy Zero Sugar and The Beast Unleashed, amid global distribution expansion. However, net income fell 6.1% to $301.7 million, while operating income also decreased by 4.5%. The board announced a 2-for-1 stock split set for March 2023.
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