Monster Beverage (MNST) Misses Q1 EPS by 2c
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Monster Beverage (NASDAQ: MNST) reported Q1 EPS of $0.59, $0.02 worse than the analyst estimate of $0.61. Revenue for the quarter came in at $1.24 billion versus the consensus estimate of $1.22 billion.
Rodney C. Sacks, Chairman and Co-Chief Executive Officer, said: “The Company posted record first quarter net sales and profits, despite the ongoing impact of the COVID-19 pandemic.
“According to Nielsen, the energy drink category, and in particular our Monster Energy® brand, continues to accelerate in most of our markets, including the United States.
“In the first quarter of 2021, we continued with our robust program of product launches in both our domestic and international markets, with plans for additional launches during 2021,” Sacks added.
Vice Chairman and Co-Chief Executive Officer Hilton H. Schlosberg said: “In order to satisfy increased consumer demand, we are sourcing aluminum cans in excess of our contracted volumes from South America and Asia. In addition, to meet consumer demand, we experienced freight inefficiencies in the United States and in Europe in the quarter, which resulted in increased costs of sales as well as increased operating expenses.
“We are pleased with the early results for our new energy drinks that were launched in the quarter,” Schlosberg added.
For earnings history and earnings-related data on Monster Beverage (MNST) click here.
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