Sector: Consumer Staples|Industry: Beverages - Non-Alcoholic|Market Cap: $50.12B|Employees: 6K
Monster Beverage Corporation primarily develops and markets energy drink beverages and concentrates, with a diverse portfolio of brands. The company also produces and distributes craft beers, hard seltzers, and flavored malt beverages. Monster leverages its brand recognition and distribution network to maintain a strong market position, with a global presence.
Net sales increased by 2.5% YoY to $1.90 billion, primarily due to increased worldwide sales volume of Monster Energy brand energy drinks. Foreign currency exchange rates had an unfavorable impact of $67.7 million on net sales.
Gross profit margin increased to 53.6% from 52.5% YoY, primarily due to decreased freight-in costs, the Pricing Actions, and lower aluminum can costs, partially offset by production inefficiencies.
Operating expenses increased by 9.3% YoY to $492.3 million, primarily due to increased selling and marketing expenses, payroll expenses, and distribution expenses. This increase outpaced revenue growth.