Loading...
•
Dec 31, 2023
Monster Beverage Q4 2023 Earnings Report
Monster Beverage reported record fourth quarter net sales, with a notable increase in net income.
Key Takeaways
Monster Beverage Corporation reported a 14.4% increase in net sales for the fourth quarter of 2023, reaching $1.73 billion. Net income increased by 21.6% to $367.0 million. Gross profit margin improved to 54.2%.
Net sales for Q4 2023 increased by 14.4% to $1.73 billion.
Net income for Q4 2023 increased by 21.6% to $367.0 million.
Gross profit margin improved to 54.2% in Q4 2023.
The Bang Energy acquisition has been successfully integrated and is performing according to expectations.
Monster Beverage
Monster Beverage
Monster Beverage Revenue by Segment
Monster Beverage Revenue by Geographic Location
Revenue by Segment
Monster Energy Drinks Revenue
CapyFin.comStrategic Brands Revenue
CapyFin.comAlcohol Brands Revenue
CapyFin.comOther Revenue
CapyFin.comRevenue by Geographic Location
International Revenue
CapyFin.com Forward Guidance
Innovation continues to play an important role and contributed to record sales. A wide range of new innovation products are planned, including Monster Energy® Ultra Fantasy Ruby Red™ and Juice Monster® Rio Punch™ products.
Positive Outlook
- Sound growth in the energy drink market globally.
- Another quarter of solid revenue growth, with record sales for the fourth quarter and 2023 financial year.
- Gross profit margins in the quarter improved significantly as compared to the 2022 fourth quarter, primarily the result of pricing actions, decreased freight-in costs and lower input costs.
- Gross profit margins also improved sequentially from the previous quarters.
- The Bang Energy acquisition has been successfully integrated and is performing according to expectations.
Challenges Ahead
- The quarter and the 2023 financial year were again impacted by unfavorable foreign currency exchange rates.
- Operating expenses for the Alcohol Brands Segment included impairment charges of $39.9 million for the 2023 fourth quarter, relating to certain acquired non-amortizing intangibles as well as property and equipment, as a result of the continuing challenges in the craft beer and seltzer categories.
- Continuing challenges in the craft beer and seltzer categories.
- Operating expenses for the 2023 fourth quarter were $504.4 million, compared with $390.0 million in the 2022 fourth quarter.
- General and administrative expenses for the 2023 fourth quarter were $248.0 million, or 14.3 percent of net sales, compared with $168.5 million, or 11.1 percent of net sales, for the 2022 fourth quarter.
Revenue & Expenses
Visualization of income flow from segment revenue to net income