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Sep 30, 2023
Monster Beverage Q3 2023 Earnings Report
Reported record third quarter with net sales increase and improved gross profit.
Key Takeaways
Monster Beverage Corporation reported a 14.3% increase in net sales for the third quarter of 2023, reaching $1.86 billion. Net income increased by 40.4% to $452.7 million. Gross profit margin improved due to pricing actions and decreased costs. The company completed the acquisition of Bang Energy® on July 31, 2023, which impacted gross margins due to the Bang Inventory Step-Up.
Net sales for the third quarter increased by 14.3% to $1.86 billion.
Net income for the third quarter increased by 40.4% to $452.7 million.
Gross profit as a percentage of net sales improved to 53.0%.
Completed the acquisition of Bang Energy® on July 31, 2023.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The company continued its roll-out of The Beast Unleashed™ and plans to launch Nasty Beast™ early in 2024. Innovation pipeline for both non-alcoholic and alcoholic beverages remains strong.
Positive Outlook
- Continued roll-out of The Beast Unleashed™.
- Goal of being available in substantially all of the United States by the end of 2023.
- Launching certain flavors of The Beast Unleashed™ in 24 oz. single serve cans.
- Nasty Beast™ launch planned for early 2024.
- Strong innovation pipeline for both non-alcoholic and alcoholic beverages.
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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