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Jun 30, 2023
Monster Beverage Q2 2023 Earnings Report
Reported record second quarter with net sales rising 12.1 percent.
Key Takeaways
Monster Beverage Corporation reported a strong second quarter in 2023, with net sales increasing by 12.1% to $1.85 billion. Net income saw a substantial rise of 51.4% reaching $413.9 million, driven by growth in the energy drink market and improved gross profit margins.
Net sales for the second quarter of 2023 increased by 12.1% to $1.85 billion.
Net income for the second quarter increased by 51.4% to $413.9 million.
Gross profit margins improved due to pricing actions, decreased freight-in costs, and decreased aluminum can costs.
The company completed the purchase of Bang Energy on July 31, 2023, and is integrating it into their portfolio.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Monster Beverage Corporation is focused on innovation and expansion in both alcoholic and non-alcoholic beverages, with plans to launch new products and expand distribution.
Positive Outlook
- Continued roll-out of The Beast Unleashed™ in the United States, with the goal of being national by the end of the year.
- Plans to launch a hard iced tea extension of The Beast Unleashed™, named Nasty Beast™ Hardcore Tea.
- Robust innovative pipeline of both alcoholic and non-alcoholic beverages.
- Price increases implemented in certain international markets during the second quarter, with additional increases planned for the remainder of the year.
- Completed the purchase of Bang Energy and are in the process of integrating this brand into our portfolio.
Challenges Ahead
- The quarter was impacted by unfavorable foreign currency exchange rates.
- Uncertainty and volatility in the national and global economy and changes in demand due to such economic conditions.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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