Monster Beverage Reports Third Quarter Financial Results

On November 7, 2024, Monster Beverage Corporation (NASDAQ: MNST) released its financial results for the third quarter ended September 30, 2024. The company reported that net sales for the third quarter increased by 1.3 percent to $1.88 billion compared to $1.86 billion in the same period last year. Excluding adverse changes in foreign currency exchange rates, net sales rose by 5.0 percent.

The gross profit margin for the third quarter was 53.2 percent, slightly higher than the 53.0 percent reported in the third quarter of 2023. Operating expenses for the quarter were $519.9 million, up from $473.2 million a year ago, representing 27.6 percent of net sales. The company’s operating income for the quarter was $479.9 million, a decrease from $510.5 million in the prior-year quarter.

Monster Beverage also announced the appointment of Mr. William “Bill” W. Douglas III to its Board of Directors, effective January 1, 2025. Mr. Douglas brings vast experience from serving in various executive roles at companies including Coca-Cola Enterprises, Inc. and Coca-Cola HBC.

Moreover, the Company’s board approved the Fourth Amended and Restated By-laws, effective November 6, 2024, which include a majority voting standard for the election of director nominees.

The company conducted a conference call on November 7, 2024, at 2:00 p.m. Pacific Time to discuss these results further. The call was open to all interested investors. In line with its growth strategy, Monster Beverage implemented a price increase on select brands and packages in the United States effective November 1, 2024.

Monster Beverage continues to focus on innovation as a key driver of its strategy, with recent launches like Monster Energy® Ultra Vice Guava™ and Predator Energy® Gold Strike in China performing well.

Overall, the financial results for the third quarter were impacted by unfavorable foreign currency exchange rates in certain markets, but the company remains confident in the growth opportunities within the energy drink category, both domestically and internationally.

Please note that the full content of the 8-K SEC filing by Monster Beverage Corporation is available on the SEC website for more detailed information.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Monster Beverage’s 8K filing here.

About Monster Beverage

Monster Beverage Corporation, through its subsidiaries, engages in development, marketing, sale, and distribution of energy drink beverages and concentrates in the United States and internationally. The company operates through three segments: Monster Energy Drinks, Strategic Brands, Alcohol Brands, and Other.