Monster Beverage (MNST) Misses Q1 EPS by 6c

Monster Beverage (NASDAQ: MNST) reported Q1 EPS of $0.62, $0.06 worse than the analyst estimate of $0.68. Revenue for the quarter came in at $628.8 million versus the consensus estimate of $601.2 million.

Gross sales for the 2015 first quarter were $710.2 million. Excluding acceleration of deferred revenue, gross sales for the 2015 first quarter increased by 9.2 percent to $670.4 million, as compared to $613.7 million in the same period last year. Net sales for the 2015 first quarter were $626.8 million. Excluding acceleration of deferred revenue, net sales for the 2015 first quarter increased by 9.5 percent to $587.0 million, as compared to $536.1 million in the same period last year.

Rodney C. Sacks, Chairman and Chief Executive Officer, said: "We are pleased to report another quarter of sales growth, however the strength of the U.S. dollar somewhat impacted our international revenues. During the quarter, we launched Monster Energy® Ultra Citron™ and Monster Rehab® Peach Tea + Energy, which have been well received by our consumers.

"As previously mentioned, The Coca-Cola Company transaction presents a unique opportunity for us. We anticipate that this relationship will provide us with complementary product offerings in many countries as well as access to new geographies, and access to new channels, including vending and specialty accounts. To date we have transitioned approximately 84 percent of our targeted distribution rights in the United States to The Coca-Cola Company and its distribution network, which was accomplished with minimal disruption in the retail trade. We expect to transition an additional 5 percent of the targeted volume during this month.

"We are making good progress in working through transitional issues and look forward to the closing of the transaction in the second quarter," Sacks added.

For earnings history and earnings-related data on Monster Beverage (MNST) click here.

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