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Monster Beverage (MNST) sees strength in its energy drinks category. In addition, the company's expansion strategy bodes well.
Monster Beverage Corporation (NASDAQ:MNST) Q1 2024 Earnings Call Transcript May 2, 2024 Monster Beverage Corporation misses on earnings expectations. Reported EPS is $0.42 EPS, expectations were $0.4348. MNST isn’t one of the 30 most popular stocks among hedge funds at the end of the third quarter (see the details here). Operator: Good day and welcome […]
Q1 2024 Monster Beverage Corp Earnings Call
Current co-CEO Hilton Schlosberg, who has been serving in this role with Sacks since 2021, will become the sole chief executive.
Monster Beverage reported a 12% jump in first-quarter revenue on Thursday, helped by steady demand for the energy drink maker's high-priced juices as well as easing freight costs. Demand for the company's energy drinks, including Monster Energy and Tour Water, held as inflation-weary customers stretched their budgets to spend on at-home meals and beverages. Last month, peer Keurig Dr Pepper and larger peer Coca-Cola also reported an upswing in consumer demand for their beverages.
Monster Beverage Corp Reports Solid First Quarter with Strategic Expansions and Enhanced Profit Margins
Energy drink company Monster Beverage (NASDAQ:MNST) reported results in line with analysts' expectations in Q1 CY2024, with revenue up 11.8% year on year to $1.90 billion. It made a GAAP profit of $0.42 per share, improving from its profit of $0.38 per share in the same quarter last year.
-- Record First Quarter Net Sales Rise 11.8 Percent to $1.90 Billion ---- Net Sales, Adjusted for Adverse Changes in Foreign Currency of $64.4 Million,Rise 15.6 Percent (12.6 Percent Exclusive of Argentina’s Impact) ---- First Quarter Gross Profit as a Percentage of Net Sales Improves to 54.1 Percent ---- First Quarter Net Income Increases 11.2 Percent to $442.0 Million ---- Company Currently Intends to Commence Tender Offer to Repurchase up to$3.0 Billion of Common Stock -- CORONA, Calif., May
Monster Beverage (MNST) Q1 results are expected to reflect continued positive trends in the energy drinks category amid rising commodity costs and inflation.
Energy drink company Monster Beverage (NASDAQ:MNST) will be reporting earnings tomorrow after market close. Here's what to expect.