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) reported a record first quarter net sales of $1.24 billion, up 17.1% year-over-year, with net income rising 13.0% to $315.2 million. Earnings per diluted share increased 14.2% to $0.59. Despite challenges from the COVID-19 pandemic and aluminum can shortages, the company’s operations remain largely unaffected. International sales grew 28.8%, making up 37% of total sales. However, gross profit as a percentage of sales decreased to 57.5% due to rising input costs and higher promotional allowances.
Monster Beverage Corporation (NASDAQ: MNST) will report its first-quarter results for 2021 on May 6, 2021, after market close. The Co-CEOs, Rodney Sacks and Hilton Schlosberg, will host a conference call at 2 p.m. Pacific Time to discuss these results. Investors can access the call via a live audio webcast on the company’s website. This call provides an opportunity for stakeholders to gain insights into the company’s financial performance and operational strategies.
Monster Beverage Corporation (NASDAQ: MNST) reported a 17.6% increase in fourth-quarter net sales, reaching $1.20 billion, and an 85.0% surge in net income to $471.7 million. The diluted earnings per share rose 87.5% to $0.88, driven by a non-recurring tax benefit of $165.1 million. Despite challenges from the COVID-19 pandemic, particularly in Europe, the company's sales outside the U.S. grew 20.4%. Gross profit margin decreased to 57.7% due to product returns and increased costs, while operating expenses fell to 24.1% of net sales.
Monster Beverage Corporation (NASDAQ: MNST) is set to announce its fourth quarter and full-year results for 2020 on February 25, 2021, after market close. Co-CEOs Rodney Sacks and Hilton Schlosberg will conduct a conference call at 2 p.m. Pacific Time to discuss the financial performance and operational strategies. The call will be accessible to investors via a live audio webcast. Recorded access will be available for approximately one year, ensuring all stakeholders can review the insights shared during the call.
Monster Beverage Corporation (NASDAQ:MNST) announces a leadership change with Hilton H. Schlosberg elected as Co-Chief Executive Officer alongside Rodney C. Sacks. Schlosberg, who has been with the company for over 30 years, will resign from his previous roles including President and Chief Financial Officer. Thomas J. Kelly has been appointed as Chief Financial Officer, succeeding Schlosberg. Sacks will continue as Chairman of the Board, strengthening the company's leadership continuity.
Monster Beverage Corporation (NASDAQ:MNST) announced a virtual investor meeting scheduled for January 14, 2021, at 4:30 p.m. Eastern Time. The meeting will feature Chairman and CEO Rodney Sacks, alongside Vice Chairman and President Hilton Schlosberg, who will discuss updates on the Company's business and operations. All interested parties can access the presentation via the Company's website and will have the option to view an archived version for a year post-event.
Monster Beverage Corporation reported a 16.3% increase in net income for Q3 2020, totaling $347.7 million, and a 19.6% rise in net income per diluted share to $0.65. Net sales jumped 9.9% to $1.25 billion, setting a record for the company.
Despite challenges posed by the COVID-19 pandemic, with a shift towards at-home consumption, international sales rose 17.0%. The company maintains a strong cash position of $1.07 billion and anticipates no material liquidity issues.
Monster Beverage Corporation (NASDAQ:MNST) announced the appointment of James L. Dinkins to its board, representing European Refreshments, a subsidiary of The Coca-Cola Company. Dinkins replaces Kathleen E. Ciaramello, who will step down effective November 1, 2020. Dinkins has a vast history with Coca-Cola, having held various high-level positions since 1988 and most recently serving as President of Coca-Cola North America until August 2020. This leadership change follows Coca-Cola's recent organizational restructuring.
Monster Beverage Corporation (NASDAQ:MNST) will release its Q3 financial results on November 5, 2020, after market close. The company will host a conference call at 2:00 p.m. Pacific Time on the same day, led by Rodney Sacks and Hilton Schlosberg, to discuss these results. Interested investors can access the call live via webcast on the company's website. A recording will also be available for approximately one year.
Monster Beverage Corporation (NASDAQ:MNST) will release its second-quarter financial results for the period ending June 30, 2020, on August 4, 2020, after market close. CEO Rodney Sacks and Vice Chairman Hilton Schlosberg will host an investor conference call at 2:00 p.m. Pacific Time to discuss the results and company operations. The call will be accessible via a live audio webcast on the company's website, with an archive available for one year.
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