Monster Beverage (MNST) Misses Q3 EPS by 13c
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Monster Beverage (NASDAQ: MNST) reported Q3 EPS of $0.99, $0.13 worse than the analyst estimate of $1.12. Revenue for the quarter came in at $788 million versus the consensus estimate of $819.9 million.
Rodney C. Sacks, Chairman and Chief Executive Officer, said: “We are pleased to report continued progress on the implementation of our strategic alignment with Coca-Cola bottlers internationally. We transitioned to Coca-Cola bottlers in Chile, Colombia, Mexico, South Africa and certain other countries in Africa during the quarter. We commenced the launch of Monster Energy® drinks in China beginning with Beijing in September and Shanghai and Hunan Province in October. Further launches are planned in the fourth quarter and throughout 2017 in China. We also launched Monster Energy® drinks in Turkey in October. We commenced the transition to Coca-Cola bottlers in Brazil earlier this week and in the fourth quarter we will be transitioning to Coca-Cola bottlers in certain Central Asian, Latin American, Middle Eastern and African countries, with further launches to follow in 2017. In the United States, we are continuing to see improvements in our quality of distribution. We launched MutantTM, our new Super Soda, in certain convenience store chains in late September 2016 with encouraging early results.
“The continued strength of the U.S. dollar as well as distributor transitions impacted our results,” Sacks added.
For earnings history and earnings-related data on Monster Beverage (MNST) click here.
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