Monster Beverage Corp Stock Price, News & Analysis

Monster Beverage (NASDAQ: MNST) has announced it will report its third quarter 2024 financial results on Thursday, November 7, 2024, after market close. Co-CEOs Rodney Sacks and Hilton Schlosberg will host an investor conference call at 2 p.m. Pacific Time to discuss the company's financial results and operations. The call will be accessible via live audio webcast at www.monsterbevcorp.com and will be archived for approximately one year.

Monster Beverage 's 2023 Sustainability Report highlights significant achievements and ongoing efforts in environmental stewardship and social responsibility. The company committed to the Science Based Targets initiative (SBTi) to set emissions reduction targets aligned with a 1.5-degree pathway. Monster also joined the Beverage Industry Environmental Roundtable (BIER) to enhance sustainability initiatives.

Key environmental progress includes installing solar panels at four company-owned buildings and implementing the EcoBeast™ platform for comprehensive data collection across operations and supply chain. In social aspects, Monster completed approximately 20,000 hours of training via Monster University and recruited 803 participants in their mentorship program.

The company's philanthropic efforts resulted in 2,715 volunteer hours through their employee Volunteer Time Off program. Monster Beverage 's commitment to sustainability aligns with their business growth, achieving 9.6% growth in energy drink case sales and a 36.9% increase in net income in 2023.

Monster Energy has announced its sponsorship of the fifth annual Call of Duty Endowment (C.O.D.E.) Bowl, contributing $500,000 to support veteran employment. The event, scheduled for August 28th, 2024, will feature military esports teams competing for the C.O.D.E. Bowl trophy. Monster Energy will also present a 'Monster Energy MVP' award to an outstanding player.

The Call of Duty Endowment, celebrating its 15th year, has placed over 125,000 veterans in jobs since 2009, with an average starting salary of $70,000. Last year's contribution from Monster Energy resulted in 809 veterans finding high-quality jobs, creating a $57 million economic impact in first-year salaries.

The event will be livestreamed on YouTube and Twitch, preceding the release of Call of Duty: Black Ops 6 on October 25th, 2024.

Monster Beverage (NASDAQ:MNST) has announced a new $500.0 million share repurchase program authorized by its Board of Directors. This comes as the previously authorized repurchase program has been fully utilized. The company plans to execute these repurchases through various methods, including open market transactions and privately-negotiated deals, subject to applicable regulations.

The timing of the share repurchases will be influenced by market conditions and other factors, with the possibility of suspension or discontinuation at any time. This move demonstrates Monster Beverage's commitment to enhancing shareholder value and confidence in its financial position.

The Warrior Built Foundation, founded by Nick Hamm, a 20-year Marine Corps veteran, helps combat veterans readjust to civilian life through vocational training, recreational therapy, and mental health services. The nonprofit, based in Lake Elsinore, California, focuses on auto mechanics and mechanical fabrication, providing veterans with free access to tools and equipment. Monster Energy has been a key supporter for over a decade, funding a facility with a full-time instructor and sponsoring all-veteran teams in off-road motorsport races like the Score International Baja 1000. Warrior Built's recreational therapy involves action sports and events that boost motivation and adrenaline, emphasizing teamwork similar to military operations. The organization faces challenges in outreach and fundraising but continues to make a significant impact with support from partners like Monster Energy.

Monster Beverage (NASDAQ: MNST) reported its 2024 Q2 results, showing a 2.5% increase in net sales to $1.90 billion. Adjusted for adverse foreign currency impacts, net sales grew by 7.4%. The Monster Energy Drinks segment saw a 3.3% rise to $1.74 billion. The Strategic Brands segment rose 9.6% to $109.2 million, while the Alcohol Brands segment fell 31.9% to $41.6 million.

Gross profit margin improved to 53.6%, and net income increased by 2.8% to $425.4 million. Diluted EPS grew 5.0% to $0.41. Monster also completed a $3.0 billion share repurchase program, acquiring 56.6 million shares at $53 each. Additional shares were repurchased in later months, with a total expenditure of $299.9 million.

CEO Hilton Schlosberg highlighted lower growth rates in some markets but noted the resilience of the energy drink category. Positive trends include increased penetration and per capita consumption. Future price increases and product launches are planned to drive growth.

Monster Beverage (NASDAQ: MNST) has announced that it will report its financial results for the second quarter ended June 30, 2024 on Wednesday, August 7, 2024, after the market closes. The company's Co-Chief Executive Officers, Rodney Sacks and Hilton Schlosberg, will host an investor conference call at 2 p.m. Pacific Time on the same day to review the financial results and operations.

The call will be accessible to all interested investors through a live audio webcast on the company's website, www.monsterbevcorp.com. For those unable to attend the live broadcast, the call will be archived on the website for approximately one year.

Monster Energy has been supporting Paul Thacker, a Monster athlete who was paralyzed in a snowmobiling accident in 2010. Thacker founded the Paul Dean Thacker Spinal Cord Recovery Foundation to assist those with similar injuries and veterans. The foundation provides financial backing for spinal cord injury research and organizes events like snowmobiling and fishing to aid in veteran recovery.

Thacker has been with Monster since 2006 and describes his partnership with the brand as a family relationship. He runs numerous events each year for veterans, funded largely by Monster Energy. Over the years, the foundation has expanded, becoming a significant support system for veterans, many of whom now volunteer for the program. Thacker’s passion for outdoor activities like fishing and snowmobiling drives the foundation's mission to help veterans find new passions and cope with their challenges.

Monster Beverage (NASDAQ: MNST) announced the final results of its Dutch auction tender offer, which closed on June 5, 2024. The company will acquire 56,603,773 shares at $53.00 per share, representing about 5.4% of its outstanding shares, for a total of approximately $3.0 billion. A total of 119,018,767 shares were tendered. The final proration factor is approximately 47.18%. Co-CEOs Rodney Sacks and Hilton Schlosberg tendered a portion of their shares, with a portion accepted for purchase. The company may also consider additional repurchases subject to market conditions.