Monster Beverage Corporation (NASDAQ: MNST) today
reported financial results for the three- and six-months ended
June 30, 2022.
Since the beginning of the COVID-19 pandemic and the subsequent
increased demand for the Company's energy drinks, the Company
prioritized ensuring product availability for its customers and
consumers. This strategic direction has remained in place
throughout the global supply chain challenges and disruptions,
despite adversely impacting the Company’s profitability. The
Company continues to stand by its strategy to ensure product
availability and solidify the continued long-term growth of
the Company's brands.
The Company achieved record second quarter net sales of $1.66
billion in the 2022 second quarter, 13.2 percent higher than net
sales of $1.46 billion in the 2021 comparable period. Net changes
in foreign currency exchange rates had an unfavorable impact on net
sales for the 2022 second quarter of $53.4 million. Net sales on a
foreign currency adjusted basis increased 16.9 percent in the 2022
second quarter.
In the second quarter of 2022, the Company experienced a
significant increase in cost of sales, resulting in a material
decrease in both gross profit and gross profit as a percentage of
net sales, relative to the comparative 2021 second quarter. The
increase in cost of sales was primarily due to (i) increased
freight rates and fuel costs, including costs relating to the
importation of aluminum cans, (ii) increased ingredient and other
input costs, including secondary packaging materials and increased
co-packing fees, (iii) increased aluminum can costs attributable to
higher aluminum commodity pricing, (iv) geographical and product
sales mix, and (v) production inefficiencies. Furthermore, the
Company experienced significant increases in distribution expenses
including increased fuel, freight and warehousing costs, which
adversely impacted operating costs.
As of June 30, 2022, the Company had $1.13 billion in cash and
cash equivalents, $1.34 billion in short-term investments and $64.1
million in long-term investments.
Second Quarter ResultsNet sales for the 2022
second quarter increased 13.2 percent to $1.66 billion, from $1.46
billion in the same period last year. Net changes in foreign
currency exchange rates had an unfavorable impact on net sales for
the 2022 second quarter of $53.4 million. Net sales on a foreign
currency adjusted basis increased 16.9 percent in the 2022 second
quarter.
Net sales for the Company’s Monster Energy® Drinks segment,
which primarily includes the Company’s Monster Energy® drinks,
Reign Total Body Fuel® high performance energy drinks and True
North® Pure Energy Seltzer energy drinks, increased 12.5 percent to
$1.54 billion for the 2022 second quarter, from $1.37 billion for
the 2021 second quarter. Net changes in foreign currency exchange
rates had an unfavorable impact on net sales for the Monster
Energy® Drinks segment of approximately $49.4 million for the 2022
second quarter. Net sales on a foreign currency adjusted basis for
the Monster Energy® Drinks segment increased 16.1 percent in the
2022 second quarter.
Net sales for the Company’s Strategic Brands segment, which
primarily includes the various energy drink brands acquired from
The Coca-Cola Company, as well as the Company’s affordable energy
brands, decreased 9.0 percent to $79.1 million for the 2022 second
quarter, from $86.9 million in the 2021 second quarter. Net changes
in foreign currency exchange rates had an unfavorable impact on net
sales for the Strategic Brands segment of approximately $4.0
million for the 2022 second quarter. Net sales on a foreign
currency adjusted basis for the Strategic Brands segment decreased
4.3 percent in the 2022 second quarter.
Net sales for the Alcohol Brands segment, which is comprised of
the various craft beers and hard seltzers purchased as part of the
CANarchy transaction on February 17, 2022, were $32.4 million for
the 2022 second quarter.
Net sales for the Company’s Other segment, which includes
certain products of American Fruits and Flavors, LLC, a wholly
owned subsidiary of the Company, sold to independent third-party
customers (the “AFF Third-Party Products”), decreased to $6.0
million for the 2022 second quarter, from $7.9 million in the 2021
second quarter.
Net sales to customers outside the United States increased 18.8
percent to $649.0 million in the 2022 second quarter, from $546.3
million in the 2021 second quarter. Such sales were approximately
39 percent of total net sales in the 2022 second quarter, compared
with 37 percent in the 2021 second quarter. Net sales to customers
outside the United States, on a foreign currency adjusted basis,
increased 28.6 percent in the 2022 second quarter.
Gross profit as a percentage of net sales for the 2022 second
quarter was 47.1 percent, compared with 57.2 percent in the 2021
second quarter. The decrease in gross profit as a percentage of net
sales for the 2022 second quarter was primarily the result of
increased freight rates and fuel costs, including costs relating to
the importation of aluminum cans, increased ingredient and other
input costs, including secondary packaging materials and increased
co-packing fees, increased aluminum can costs attributable to
higher aluminum commodity pricing, geographical and product sales
mix and production inefficiencies. The decrease in gross profit as
a percentage of net sales for the 2022 second quarter was partially
offset by pricing actions.
Operating expenses for the 2022 second quarter were $406.9
million, compared with $310.9 million in the 2021 second quarter.
The comparative operating expenses for the 2021 second quarter
included a $16.9 million reversal of amounts previously accrued in
connection with an intellectual property claim. In addition, the
increase in operating expenses for the 2022 second quarter was
primarily due to increased out-bound fuel and freight, freight
inefficiencies and warehouse costs, increased payroll expenses,
increased expenditures for travel and entertainment, increased
expenditures for sponsorships and endorsements and other marketing
expenses, including social media, digital marketing, point of sales
and sampling. Certain of these increases were the result of the
Company’s return to activities, consistent with pre COVID-19
levels.
Operating expenses as a percentage of net sales for the 2022
second quarter were 24.6 percent, compared with 21.3 percent in the
2021 second quarter, and 25.6 percent for the 2019 second quarter
(pre COVID-19).
Distribution costs for the 2022 second quarter increased to
$87.9 million, an increase of 36.0 percent, or 5.3 percent of net
sales, compared with $64.6 million, or 4.4 percent of net sales, in
the 2021 second quarter, and 3.4 percent of net sales in the 2019
second quarter (pre COVID-19).
Selling expenses as a percentage of net sales for the 2022
second quarter were 9.1 percent, compared with 9.0 percent in the
2021 second quarter, and 11.2 percent in the 2019 second quarter
(pre COVID-19).
General and administrative expenses for the 2022 second quarter
were $168.7 million, or 10.2 percent of net sales, compared with
$115.0 million, or 7.9 percent of net sales, for the 2021 second
quarter, and 10.9 percent for the 2019 second quarter (pre
COVID-19). Stock-based compensation was $16.3 million for the
second quarter of 2022, compared with $17.3 million in the 2021
second quarter.
Operating income for the 2022 second quarter decreased to $373.0
million, from $526.0 million in the 2021 second quarter. Operating
income for the 2022 second quarter decreased primarily as a result
of the decrease in the gross profit as a percentage of net sales,
as well as the increase in operating expenses.
The effective tax rate for the 2022 second quarter was 25.3
percent, compared with 23.4 percent in the 2021 second
quarter.
Net income for the 2022 second quarter decreased 32.3 percent to
$273.4 million, from $403.8 million in the 2021 second quarter. Net
income per diluted share for the 2022 second quarter decreased 32.2
percent to $0.51, from $0.75 in the second quarter of 2021.
Vice Chairman and Co-Chief Executive Officer Hilton H.
Schlosberg said: “We are pleased to report continued strong revenue
growth, driven by consumer demand. Ensuring product availability
for our customers and consumers remains a priority.
“Following many quarters of supply chain challenges, we have
been able to rebuild inventories on a global basis, while at the
same time meeting strong customer demand, despite operating in an
extremely challenging, unprecedented and costly supply chain
environment.
“Significant increases in freight-in and fuel costs, including
costs relating to the importation of aluminum cans, as well as
other input costs continue to impact costs of sales. We believe
that some of the increased costs that we are experiencing are
likely to be transitory, as we begin to decrease our reliance on
the use of imported aluminum cans, as well as increase our
inventory levels in closer proximity to our customers. Furthermore,
the sharp run-up in aluminum commodity pricing appears to be
currently moderating.
“Increases in distribution costs, particularly freight and fuel,
continued to adversely impact operating expenses.
“We have implemented measures to mitigate the impact of
increased costs experienced in our supply chain through reductions
in promotions and other pricing actions in the United States and in
EMEA. In the United States, we are implementing a market-wide
increase in pricing, effective September 1, 2022. In certain
international markets, price increases will also be implemented in
the second half of 2022, some in addition to price increases or
pricing actions already taken earlier in 2022,” Schlosberg
added.
Rodney C. Sacks, Chairman and Co-Chief Executive Officer, said:
“The Company is well positioned to capitalize on growth in the
global energy drink category with our Monster Energy® family of
brands, as well as our Strategic and Affordable energy brands.
“We continued to launch new products and expanded distribution
of our brands in many international markets in the second quarter
of 2022. We are excited to announce that we are planning to launch
Monster Energy® Zero Sugar in the 2022 fourth quarter, initially in
the United States. Monster Energy® Zero Sugar was specifically
developed as an indistinguishable zero sugar analog of our original
Monster Energy® Green flavor.
“We are planning to launch our first flavored malt beverage
alcohol product leveraging Monster’s brand equity late in the 2022
fourth quarter. ‘The Beast Unleashed™’ will contain 6% alcohol by
volume and will initially be available in four flavors. The
Beast Unleashed™ will launch through beer distributors in the
United States, utilizing a phased state launch approach, with the
goal of being national by the end of 2023. The Beast Unleashed™
will initially be offered in 16-ounce single serve cans and a
variety pack of 12-ounce sleek cans.
“Our innovation pipeline of both alcoholic and non-alcoholic
beverages is robust and exciting,” Sacks added.
2022 Six-Months ResultsNet sales for the
six-months ended June 30, 2022 increased 17.3 percent to $3.17
billion, from $2.71 billion in the comparable period last year. Net
changes in foreign currency exchange rates had an unfavorable
impact on net sales for the six-months ended June 30, 2022, of
$86.3 million. Net sales on a foreign currency adjusted basis
increased 20.5 percent in the six-months ended June 30, 2022.
Gross profit as a percentage of net sales for the six-months
ended June 30, 2022 was 49.0 percent, compared with 57.4
percent in the comparable period last year.
Operating expenses for the six-months ended June 30, 2022
were $784.1 million, compared with $611.7 million in the comparable
period last year.
Operating income for the six-months ended June 30, 2022
decreased to $772.4 million, from $940.1 million in the comparable
period last year.
The effective tax rate for the six-months ended June 30, 2022
was 25.2 percent, compared with 23.5 percent in the comparable
period last year.
Net income for the six-months ended June 30, 2022 decreased
21.1 percent to $567.6 million, from $719.0 million in the
comparable period last year. Net income per diluted share for
the six-months ended June 30, 2022 was $1.06, compared with
$1.34 in the comparable period last year.
Share Repurchase ProgramDuring the
2022 second quarter, the Company purchased approximately 3.3
million shares of its common stock at an average purchase price of
$86.53 per share, for a total amount of $284.1 million (excluding
broker commissions).
As of August 4, 2022, approximately $657.4 million
remained available for repurchase under the previously authorized
repurchase programs.
Investor Conference CallThe
Company will host an investor conference call today, August 4,
2022, at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time). The
conference call will be open to all interested investors through a
live audio web broadcast via the internet at www.monsterbevcorp.com
in the “Events & Presentations” section. For those who are not
able to listen to the live broadcast, the call will be archived for
approximately one year on the website.
Monster Beverage CorporationBased
in Corona, California, Monster Beverage Corporation is a holding
company and conducts no operating business except through its
consolidated subsidiaries. The Company’s subsidiaries develop and
market energy drinks, including Monster Energy® energy drinks,
Monster Energy Ultra® energy drinks, Juice Monster® Energy + Juice
energy drinks, Java Monster® non-carbonated coffee + energy drinks,
Espresso Monster® non-carbonated espresso + energy drinks, Rehab®
Monster® non-carbonated energy drinks, Monster Hydro® Energy Water
non-carbonated refreshment + energy drinks, Monster Hydro Super
Sport® Superior Hydration non-carbonated refreshment + energy
drinks, Monster HydroSport Super Fuel® non-carbonated advanced
hydration + energy drinks, Monster Dragon Iced Tea® non-carbonated
energy teas, Muscle Monster® non-carbonated energy shakes, Monster
Energy® Nitro energy drinks, Reign Total Body Fuel® high
performance energy drinks, Reign Inferno® thermogenic fuel high
performance energy drinks, True North® Pure Energy Seltzer energy
drinks, NOS® energy drinks, Full Throttle® energy drinks, Burn®
energy drinks, Samurai® energy drinks, Relentless® energy drinks,
Mother® energy drinks, Play® and Power Play® (stylized) energy
drinks, BU® energy drinks, Nalu® energy drinks, BPM® energy drinks,
Gladiator® energy drinks, Ultra Energy® energy drinks, Live+®
energy drinks, Predator® energy drinks and Fury® energy drinks. The
Company acquired CANarchy Craft Brewery Collective LLC in February
2022 and added a number of craft beers and hard seltzers to its
product portfolio. For more information visit,
www.monsterbevcorp.com.
Caution Concerning Forward-Looking
StatementsCertain statements made in this announcement may
constitute “forward-looking statements” within the meaning of the
U.S. federal securities laws, as amended, regarding the
expectations of management with respect to our future operating
results and other future events including revenues and
profitability. The Company cautions that these statements are based
on management’s current knowledge and expectations and are subject
to certain risks and uncertainties, many of which are outside of
the control of the Company, that could cause actual results and
events to differ materially from the statements made herein. Such
risks and uncertainties include, but are not limited to, the
following: the impact of rising costs and inflation on the
discretionary income of our consumers, particularly the rising cost
of gasoline; the impact of the military conflict in Ukraine,
including supply chain disruptions, volatility in commodity prices,
increased economic uncertainty and escalating geopolitical
tensions; the direct and indirect impacts of the human and economic
consequences of the COVID-19 pandemic, as well as measures that may
be taken in the future by governments, and consequently, businesses
(including the Company and its suppliers, bottlers/distributors,
co-packers and other service providers), and the public at large to
limit the COVID-19 pandemic; our extensive commercial arrangements
with The Coca-Cola Company (TCCC) and, as a result, our future
performance’s substantial dependence on the success of our
relationship with TCCC; our ability to implement our growth
strategy, including expanding our business in existing and new
sectors, such as the alcoholic beverage sector; the inherent
operational risks presented by the alcoholic beverage industry that
may not be adequately covered by insurance or lead to litigation
relating to the abuse or misuse of our products; our ability to
successfully integrate CANarchy and other acquired businesses or
assets; exposure to significant liabilities due to litigation,
legal or regulatory proceedings; intellectual property injunctions;
unanticipated litigation concerning the Company’s products; the
current uncertainty and volatility in the national and global
economy; changes in consumer preferences; adverse publicity
surrounding obesity and health concerns related to our products,
product safety and quality, water usage, environmental impact and
sustainability, human rights, our culture, workforce and labor and
workplace laws; changes in demand due to both domestic and
international economic conditions; activities and strategies of
competitors, including the introduction of new products and
competitive pricing and/or marketing of similar products;
unanticipated costs incurred in connection with the termination of
existing distribution agreements or the transition to new
distributors; changes in the price and/or availability of raw
materials; other supply issues, including the availability of
products and/or suitable production facilities including
limitations on co-packing availability including retort production;
product distribution and placement decisions by retailers; the
effects of retailer and/or bottler/distributor consolidation on our
business; unilateral decisions by bottlers/distributors, buying
groups, convenience chains, grocery chains, mass merchandisers,
specialty chain stores, e-commerce retailers, e-commerce websites,
club stores and other customers to discontinue carrying all or any
of our products that they are carrying at any time, restrict the
range of our products they carry, impose restrictions or
limitations on the sale of our products and/or the sizes of
containers for our products and/or devote less resources to the
sale of our products; changes in governmental regulation; the
imposition of new and/or increased excise sales and/or other taxes
on our products; our ability to adapt to the changing retail
landscape with the rapid growth in e-commerce retailers and
e-commerce websites; criticism of energy drinks and/or the energy
drink market generally; changes in U.S. tax laws as a result of any
legislation proposed by the current U.S. presidential
administration or U.S. Congress; the impact of proposals to limit
or restrict the sale of energy drinks to minors and/or persons
below a specified age and/or restrict the venues and/or the size of
containers in which energy drinks can be sold; possible recalls of
our products and/or the consequences and costs of defective
production; or our ability to absorb, reduce or pass on to our
bottlers/distributors increases in commodity costs, including
freight costs. For a more detailed discussion of these and other
risks that could affect our operating results, see the Company’s
reports filed with the Securities and Exchange Commission,
including our annual report on Form 10-K for the year ended
December 31, 2021, and our subsequently filed quarterly report. The
Company’s actual results could differ materially from those
contained in the forward-looking statements. The Company assumes no
obligation to update any forward-looking statements, whether as a
result of new information, future events or otherwise.
(tables below)
|
MONSTER BEVERAGE CORPORATION AND SUBSIDIARIES |
|
CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND OTHER
INFORMATION |
|
FOR THE THREE- AND SIX-MONTHS ENDED JUNE 30, 2022 AND
2021 |
|
(In Thousands, Except Per Share Amounts)
(Unaudited) |
|
|
|
|
Three-Months Ended |
|
Six-Months Ended |
|
|
June 30, |
|
June 30, |
|
|
2022 |
|
2021 |
|
2022 |
|
2021 |
|
|
|
|
|
|
|
|
|
|
Net sales¹ |
$ |
1,655,260 |
|
|
$ |
1,461,934 |
|
|
$ |
3,173,833 |
|
|
$ |
2,705,751 |
|
| |
|
|
|
|
|
|
|
| Cost of sales |
|
875,399 |
|
|
|
625,096 |
|
|
|
1,617,306 |
|
|
|
1,153,976 |
|
| |
|
|
|
|
|
|
|
| Gross profit¹ |
|
779,861 |
|
|
|
836,838 |
|
|
|
1,556,527 |
|
|
|
1,551,775 |
|
| Gross profit as a percentage
of net sales |
|
47.1% |
|
|
|
57.2% |
|
|
|
49.0% |
|
|
|
57.4% |
|
| |
|
|
|
|
|
|
|
| Operating expenses |
|
406,910 |
|
|
|
310,863 |
|
|
|
784,088 |
|
|
|
611,652 |
|
| Operating expenses as a
percentage of net sales |
|
24.6% |
|
|
|
21.3% |
|
|
|
24.7% |
|
|
|
22.6% |
|
| |
|
|
|
|
|
|
|
| Operating income¹ |
|
372,951 |
|
|
|
525,975 |
|
|
|
772,439 |
|
|
|
940,123 |
|
| Operating income as a
percentage of net sales |
|
22.5% |
|
|
|
36.0% |
|
|
|
24.3% |
|
|
|
34.7% |
|
| |
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
| Interest and other (expense)
income, net |
|
(6,781) |
|
|
|
872 |
|
|
|
(14,080) |
|
|
|
111 |
|
| |
|
|
|
|
|
|
|
| Income before provision for
income taxes¹ |
|
366,170 |
|
|
|
526,847 |
|
|
|
758,359 |
|
|
|
940,234 |
|
| |
|
|
|
|
|
|
|
| Provision for income
taxes |
|
92,810 |
|
|
|
123,085 |
|
|
|
190,796 |
|
|
|
221,278 |
|
| Income taxes as a percentage
of income before taxes |
|
25.3% |
|
|
|
23.4% |
|
|
|
25.2% |
|
|
|
23.5% |
|
| |
|
|
|
|
|
|
|
| Net income |
$ |
273,360 |
|
|
$ |
403,762 |
|
|
$ |
567,563 |
|
|
$ |
718,956 |
|
| Net income as a percentage of
net sales |
|
16.5% |
|
|
|
27.6% |
|
|
|
17.9% |
|
|
|
26.6% |
|
| |
|
|
|
|
|
|
|
| Net income per common
share: |
|
|
|
|
|
|
|
|
Basic |
$ |
0.52 |
|
|
$ |
0.76 |
|
|
$ |
1.07 |
|
|
$ |
1.36 |
|
|
Diluted |
$ |
0.51 |
|
|
$ |
0.75 |
|
|
$ |
1.06 |
|
|
$ |
1.34 |
|
| |
|
|
|
|
|
|
|
| Weighted average number of
shares of common stock and common stock equivalents: |
|
|
|
|
|
|
|
|
Basic |
|
528,617 |
|
|
|
528,653 |
|
|
|
529,009 |
|
|
|
528,425 |
|
|
Diluted |
|
534,811 |
|
|
|
535,557 |
|
|
|
535,209 |
|
|
|
535,324 |
|
| |
|
|
|
|
|
|
|
| Case sales (in thousands) (in
192-ounce case equivalents) |
|
184,197 |
|
|
|
161,450 |
|
|
|
352,990 |
|
|
|
300,017 |
|
| Average net sales per
case2 |
$ |
8.78 |
|
|
$ |
9.01 |
|
|
$ |
8.82 |
|
|
$ |
8.97 |
|
| |
|
|
|
|
|
|
|
¹Includes $10.1 million and $10.4 million for
the three-months ended June 30, 2022 and 2021, respectively,
related to the recognition of deferred revenue. Includes $20.1
million and $20.9 million for the six-months ended June 30, 2022
and 2021, respectively, related to the recognition of deferred
revenue.
2Excludes Alcohol segment net sales of $32.4 million for the
three-months ended June 30, 2022, as these sales do not have unit
case equivalents. Excludes Other segment net sales of $6.0 million
and $7.9 million for the three-months ended June 30, 2022 and 2021,
respectively, comprised of net sales of AFF Third-Party Products to
independent third-party customers, as these sales do not have unit
case equivalents. Excludes Alcohol segment net sales of $47.7
million for the six-months ended June 30, 2022, as these sales do
not have unit case equivalents. Excludes Other segment net sales of
$11.9 million and $13.6 million for the six-months ended June 30,
2022 and 2021, respectively, comprised of net sales of AFF
Third-Party Products to independent third-party customers, as these
sales do not have unit case equivalents.
|
MONSTER BEVERAGE CORPORATION AND SUBSIDIARIES |
|
CONDENSED CONSOLIDATED BALANCE SHEETS |
|
AS OF JUNE 30, 2022 AND DECEMBER 31, 2021 |
|
(In Thousands, Except Par Value) (Unaudited) |
|
|
|
|
|
June 30,2022 |
|
December 31,2021 |
|
ASSETS |
|
|
|
|
| CURRENT ASSETS: |
|
|
|
|
|
Cash and cash equivalents |
|
$ |
1,132,039 |
|
|
$ |
1,326,462 |
|
| Short-term investments |
|
|
1,337,792 |
|
|
|
1,749,727 |
|
| Accounts receivable, net |
|
|
1,175,587 |
|
|
|
896,658 |
|
| Inventories |
|
|
885,948 |
|
|
|
593,357 |
|
| Prepaid expenses and other
current assets |
|
|
132,273 |
|
|
|
82,668 |
|
| Prepaid income taxes |
|
|
32,981 |
|
|
|
33,238 |
|
|
Total current assets |
|
|
4,696,620 |
|
|
|
4,682,110 |
|
| |
|
|
|
|
| INVESTMENTS |
|
|
64,119 |
|
|
|
99,419 |
|
| PROPERTY AND EQUIPMENT,
net |
|
|
464,541 |
|
|
|
313,753 |
|
| DEFERRED INCOME TAXES,
net |
|
|
203,287 |
|
|
|
225,221 |
|
| GOODWILL |
|
|
1,412,941 |
|
|
|
1,331,643 |
|
| OTHER INTANGIBLE ASSETS,
net |
|
|
1,223,114 |
|
|
|
1,072,386 |
|
| OTHER ASSETS |
|
|
110,390 |
|
|
|
80,252 |
|
|
Total Assets |
|
$ |
8,175,012 |
|
|
$ |
7,804,784 |
|
|
|
|
|
|
|
|
LIABILITIES AND STOCKHOLDERS’ EQUITY |
|
|
|
|
| CURRENT LIABILITIES: |
|
|
|
|
| Accounts payable |
|
$ |
492,858 |
|
|
$ |
404,263 |
|
| Accrued liabilities |
|
|
209,154 |
|
|
|
210,964 |
|
| Accrued promotional
allowances |
|
|
277,618 |
|
|
|
211,461 |
|
| Deferred revenue |
|
|
44,344 |
|
|
|
42,530 |
|
| Accrued compensation |
|
|
53,717 |
|
|
|
65,459 |
|
| Income taxes payable |
|
|
15,917 |
|
|
|
30,399 |
|
|
Total current liabilities |
|
|
1,093,608 |
|
|
|
965,076 |
|
| |
|
|
|
|
| DEFERRED REVENUE |
|
|
232,170 |
|
|
|
243,249 |
|
| |
|
|
|
|
| OTHER LIABILITIES |
|
|
40,056 |
|
|
|
29,508 |
|
| |
|
|
|
|
| STOCKHOLDERS’ EQUITY: |
|
|
|
|
| Common stock - $0.005 par
value; 1,250,000 shares authorized; 640,944 shares issued and
526,772 shares outstanding as of June 30, 2022; 640,043 shares
issued and 529,323 shares outstanding as of December 31, 2021 |
|
|
3,205 |
|
|
|
3,200 |
|
| Additional paid-in
capital |
|
|
4,707,569 |
|
|
|
4,652,620 |
|
| Retained earnings |
|
|
8,377,112 |
|
|
|
7,809,549 |
|
| Accumulated other
comprehensive loss |
|
|
(152,957 |
) |
|
|
(69,165 |
) |
| Common stock in treasury, at
cost; 114,172 and 110,720 shares as of June 30, 2022 and
December 31, 2021, respectively |
|
|
(6,125,751 |
) |
|
|
(5,829,253 |
) |
|
Total stockholders’ equity |
|
|
6,809,178 |
|
|
|
6,566,951 |
|
|
Total Liabilities and Stockholders’ Equity |
|
$ |
8,175,012 |
|
|
$ |
7,804,784 |
|
| CONTACTS: |
|
Rodney C.
Sacks |
| |
|
Chairman and Co-Chief Executive Officer |
| |
|
(951) 739-6200 |
| |
|
|
| |
|
Hilton H. Schlosberg |
| |
|
Vice Chairman and Co-Chief Executive Officer |
| |
|
(951) 739-6200 |
| |
|
|
| |
|
Roger S. Pondel / Judy Lin Sfetcu |
| |
|
PondelWilkinson Inc. |
| |
|
(310) 279-5980 |
Monster Beverage (NASDAQ:MNST)
Historical Stock Chart
From Nov 2023 to Dec 2023
Monster Beverage (NASDAQ:MNST)
Historical Stock Chart
From Dec 2022 to Dec 2023
