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NEW YORK - Monster Beverage Corporation (NASDAQ:MNST) shares gained 2.3% after the energy drink maker reported second-quarter earnings and revenue that exceeded analyst expectations, driven by strong international growth and pricing actions.
The company posted adjusted earnings of $0.52 per share for the quarter, beating the analyst estimate of $0.48. Revenue reached a record $2.11 billion, surpassing the consensus estimate of $2.08 billion and marking an 11.1% increase from $1.90 billion in the same period last year. This was the first time quarterly sales exceeded the $2 billion threshold in the company’s history.
International sales were particularly strong, increasing 15.8% to $864.2 million, representing approximately 41% of total sales compared to 39% in the year-ago quarter. On a foreign currency adjusted basis, international sales grew 16.5%.
"We achieved record net sales for the second quarter, exceeding the $2.0 billion mark for the first time, underscoring the strength of our brands, talent of our team, and continued appeal of our products around the world," said CEO Hilton H. Schlosberg.
Gross profit margin improved to 55.7% from 53.6% YoY, which the company attributed to pricing actions, supply chain optimization and lower input costs, partially offset by geographical sales mix and higher promotional allowances.
The Monster Energy Drinks segment, which includes Monster Energy drinks, Reign Total (EPA:TTEF) Body Fuel energy drinks, Reign Storm wellness drinks, and Bang Energy drinks, saw sales increase 11.2% to $1.94 billion. The Strategic Brands segment grew 18.9% to $129.9 million, while the Alcohol Brands segment declined 8.6% to $38.0 million.
Operating income rose 19.8% to $631.6 million, while adjusted operating income increased 21.5% to $667.9 million compared to the prior year period.
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