Monster Beverage’s (MNST) Q1 Earnings Fall Short, Despite Yearly Sales Increase
- Monster Beverage Corporation’s Q1 2024 results fall short of Zacks Consensus Estimate, despite year-over-year improvements.
- Adjusted earnings of 42 cents per share and net sales of $1.90 billion reported.
- Shares of the Zacks Rank #3 (Hold) company have gained 5.9% in the past three months.
Monster Beverage Corporation’s Q1 2024 results miss estimates, yet show year-over-year growth. The company’s shares have seen a 5.9% increase over the past three months.
Monster Beverage Corporation’s Q1 2024 Results
Monster Beverage Corporation reported its first-quarter 2024 results, with both the top and bottom lines falling below the Zacks Consensus Estimate. However, both metrics showed year-over-year improvement, driven by the expansion of the energy drinks category and product launches. The company’s adjusted earnings of 42 cents per share missed the Zacks Consensus Estimate of 44 cents, but advanced 10.5% year over year. Net sales of $1.90 billion improved 11.8% year over year but lagged the consensus estimate of $1.92 billion. Unfavorable currency translations hurt net sales by $64.4 million. On a currency-adjusted basis, net sales rose 15.6%.
Segmental Performance and Financials
Monster Energy Drinks, Strategic Brands, Alcohol Brands, and Other are the four segments of Monster Beverage Corporation. The Monster Energy Drinks segment, which includes Monster Energy drinks, Reign Tota... Read the full article for FREE at COINOTAG!
