Business / Companies
Monster Beverage sales rise 16.7% in third quarter
Monster Beverage reported third-quarter net sales of $2.56 billion on Thursday, a 16.7% increase from a year earlier.
Status: source-checked.
Monster Beverage reported third-quarter net sales of $2.56 billion on Thursday, a 16.7% increase from a year earlier.
Sales to customers outside the United States increased 28.1% to $1.2 billion and accounted for about 47% of total sales, the company said.
Net income rose 8.4% to $568.4 million. Diluted earnings per share increased to 29 cents from 27 cents, while adjusted earnings were 30 cents per share.
Gross profit as a share of sales fell to 54.7% from 55.7%, which Monster attributed primarily to higher aluminum can and freight costs and its geographic sales mix, partly offset by pricing. The adjusted earnings figure is a non-GAAP measure; the release includes a reconciliation to reported accounting results.
What we know / what we don't
What we know
- Monster Beverage reported third-quarter net sales of $2.56 billion on Thursday, a 16.7% increase from a year earlier.
What we don't know
- Estimates may be revised. Issuer statements are attributed, not independently corroborated.
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