Monster Beverage Q3 net sales up 14.3% to $1.86B; net income up 40.4% to $452.7M

Monster Beverage Corp

Net sales record $1.86B (+14.3% YoY); foreign currency adjusted +16.1%; net income $452.7M (+40.4%), diluted EPS $0.43 (+41.3%).
Gross margin improved to 53.0% (53.4% ex-Bang inventory step-up of $7.8M) vs 51.3% a year ago; pricing actions and lower freight/can costs.
Completed Bang Energy acquisition on July 31; recorded $45.4M gain and $8.0M acquisition expenses; inventory step-up impacted gross margin.
International net sales up 20.2% to $733.7M (40% of total); foreign currency adjusted +24.9%.
Repurchased 7.3M shares at avg $54.83 for $400M; $282.8M remaining under buyback.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Monster Beverage Corp reported third quarter ended September 30, 2023 results: revenue $1.86 billion, net income $452.7 million.

Period: third quarter ended September 30, 2023
Revenue: $1.86 billion
Net income: $452.7 million
Result: reported results

Exact text from the filing

S. Pondel / Judy Lin PondelWilkinson Inc. (310) 279-5980 MONSTER BEVERAGE REPORTS 2023 THIRD QUARTER FINANCIAL RESULTS -- Record Third Quarter Net Sales Rise 14.3 Percent to $1.86 Billion -- -- Net Sales, Adjusted for Adverse Changes in Foreign Currency of $29.2 Million, Rise 16.1 Percent -- -- Gross Profit as a Percentage of Net Sales Improves to 53.0 Percent on

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Source: SEC EDGAR

accession 0001104659-23-113794

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