Monster Beverage Corporation reports recurring developments tied to its energy drink portfolio, beverage segment performance and brand activity. Company updates focus on Monster Energy, Reign Total Body Fuel, Reign Storm, Bang Energy and related products within the Monster Energy Drinks segment, along with disclosures that separate or adjust for the Alcohol Brands segment and foreign currency effects.
News also covers quarterly and annual financial results, investor meeting and conference call announcements, and consumer-facing Monster Energy promotions. These items reflect the company’s operating focus on branded ready-to-drink beverages, product-line performance, marketing activations and public-company communications.
Monster Beverage Corporation reported a 16.3% increase in net income for Q3 2020, totaling $347.7 million, and a 19.6% rise in net income per diluted share to $0.65. Net sales jumped 9.9% to $1.25 billion, setting a record for the company.
Despite challenges posed by the COVID-19 pandemic, with a shift towards at-home consumption, international sales rose 17.0%. The company maintains a strong cash position of $1.07 billion and anticipates no material liquidity issues.
Monster Beverage Corporation (NASDAQ:MNST) announced the appointment of James L. Dinkins to its board, representing European Refreshments, a subsidiary of The Coca-Cola Company. Dinkins replaces Kathleen E. Ciaramello, who will step down effective November 1, 2020. Dinkins has a vast history with Coca-Cola, having held various high-level positions since 1988 and most recently serving as President of Coca-Cola North America until August 2020. This leadership change follows Coca-Cola's recent organizational restructuring.
Monster Beverage Corporation (NASDAQ:MNST) will release its Q3 financial results on November 5, 2020, after market close. The company will host a conference call at 2:00 p.m. Pacific Time on the same day, led by Rodney Sacks and Hilton Schlosberg, to discuss these results. Interested investors can access the call live via webcast on the company's website. A recording will also be available for approximately one year.
Monster Beverage Corporation (NASDAQ:MNST) will release its second-quarter financial results for the period ending June 30, 2020, on August 4, 2020, after market close. CEO Rodney Sacks and Vice Chairman Hilton Schlosberg will host an investor conference call at 2:00 p.m. Pacific Time to discuss the results and company operations. The call will be accessible via a live audio webcast on the company's website, with an archive available for one year.
Monster Beverage Corporation (NASDAQ: MNST) will host its Annual Meeting of Stockholders on June 3, 2020, via live webcast due to COVID-19 precautions. The meeting begins at 2:30 PM PT and can be accessed at www.virtualshareholdermeeting.com/MNST2020. Only shareholders of record as of April 13, 2020, can vote during the meeting using their control numbers. The event will also be archived for a year on the company’s website under the “Events & Presentations” section. Monster Beverage continues to operate primarily through its subsidiaries in developing and marketing energy drinks.
Monster Beverage Corporation (NASDAQ: MNST) reported a 12.3% increase in first-quarter net sales, reaching $1.06 billion compared to $946 million last year. Net income rose 6.6% to $278.8 million, with diluted earnings per share at $0.52, up 8.2%. The company remains focused on health and safety during the COVID-19 pandemic, reporting minimal impact on Q1 sales but noting adverse effects in April. In total, international sales surged 25.6% to $356.8 million, now constituting 33.6% of total net sales.
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