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 has announced that its Audit Committee has approved Ernst & Young LLP as the independent auditor for the fiscal year ending December 31, 2023. This decision follows a review process and is not related to any disagreements with the current auditor, Deloitte & Touche LLP, which will continue its role for the fiscal year ended December 31, 2022. Based in Corona, California, Monster Beverage develops and markets a wide range of energy drinks and beverages, including popular brands like Monster Energy and Reign. The company's recent auditor change aims to maintain transparency and enhance financial reporting.
Monster Beverage Corporation (NASDAQ: MNST) will host a virtual investor meeting on January 17, 2023, at 4:30 p.m. ET, led by Co-CEOs Rodney Sacks and Hilton Schlosberg. The meeting aims to update stakeholders on the company's business and operations. Interested parties can access the presentation on the company's website under the "Events & Presentations" section. An archive of the event will be available for approximately one year.
Monster Beverage, based in Corona, California, focuses on developing and marketing energy drinks, including its popular Monster Energy brand and various other beverages.
Monster Beverage Corporation (NASDAQ: MNST) reported a record net sales of $1.62 billion for Q3 2022, up 15.2% year-over-year, with a 20.2% increase on a foreign currency-adjusted basis. The net income decreased by 4.4% to $322.4 million, with earnings per share at $0.60. Elevated costs impacted gross profit margins, which fell to 51.3%. The board authorized a new $500 million share repurchase program. Despite challenges in costs, the company sees strong consumer demand and plans new product launches, including Monster Energy Zero Sugar and flavored malt beverages in 2023.
Monster Beverage Corporation (NASDAQ: MNST) will report its third quarter results on November 3, 2022, after market close. The co-CEOs, Rodney Sacks and Hilton Schlosberg, will host a conference call at 2 p.m. Pacific Time to discuss the financial results and operations. Investors can access the live audio webcast through the company's website, and an archived version will be available for approximately one year. The company, based in Corona, California, is known for its extensive range of energy drinks and has expanded its portfolio through recent acquisitions.
Monster Beverage Corporation (NASDAQ: MNST) reported second quarter net sales of $1.66 billion, a 13.2% increase from $1.46 billion year-over-year. Adjusted for foreign currency, sales rose 16.9%. Despite solid revenue growth, profitability was adversely impacted by increased costs in freight, ingredients, and production inefficiencies, leading to a gross profit margin decrease to 47.1% from 57.2%. Net income fell 32.3% to $273.4 million, or $0.51 per diluted share. The company plans price increases starting September 1, 2022, and aims to mitigate supply chain costs while launching new products, including Monster Energy® Zero Sugar.
Monster Beverage Corporation (NASDAQ: MNST) will report its second quarter results on August 4, 2022, after market close. Co-CEOs Rodney Sacks and Hilton Schlosberg will host an investor conference call at 2 p.m. PT the same day to discuss financial results and operations. Investors can listen live via webinar at www.monsterbevcorp.com. The call will be archived for about a year for those unable to attend.
Monster Beverage Corporation (NASDAQ:MNST) has authorized a new share repurchase program amounting to $500 million. As of June 14, 2022, approximately $157.4 million remains from the previous program. The repurchases will be conducted in the open market or through negotiated transactions, depending on market conditions. The company cautions that the timing and execution of these repurchases could be affected by various factors, including regulatory approvals and market conditions.
Monster Beverage Corporation (NASDAQ:MNST) will host a live webcast of its Annual Meeting of Stockholders on June 14, 2022, at 2:30 p.m. Pacific Time. The meeting will allow stockholders of record, as of April 21, 2022, to vote electronically. Those without a control number may attend but cannot vote. The event will also be archived for one year on the company's website. Monster Beverage, based in Corona, California, develops and markets energy drinks, including the popular Monster Energy brand, which was expanded through the acquisition of CANarchy Craft Brewery Collective in February 2022.
Monster Beverage Corporation (NASDAQ: MNST) reported first-quarter net sales of $1.52 billion, a 22.1% increase from $1.24 billion in 2021. Gross profit margin fell to 51.1% due to rising freight, fuel, and aluminum costs, while operating expenses rose to $377.2 million. The recent acquisition of CANarchy Craft Brewery Collective for $330.4 million is expected to enhance product portfolio. Despite positive sales growth, net income decreased 6.7% to $294.2 million and net income per diluted share fell 6.8% to $0.55.
Monster Beverage Corporation (NASDAQ: MNST) will report its first-quarter results for the period ending March 31, 2022, on May 5, 2022, post-market close. Co-CEOs Rodney Sacks and Hilton Schlosberg will host an investor conference call at 2 p.m. Pacific Time on the same day to discuss the financial results and company operations. The call will be accessible to all investors via a live audio webcast, with an archived version available on the company’s website for one year.
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