Monster Beverage Q4 net sales rise 14.4% to $1.73B; net income up 21.6% to $367M

Monster Beverage Corp

Record Q4 net sales $1.73B (+14.4% YoY); foreign currency adjusted growth 16.1%.
Net income $367.0M (+21.6%); diluted EPS $0.35 (+22.3%); adjusted net income $401.5M (+33.1%).
Gross margin 54.2% (54.5% ex-Bang step-up) vs 51.8% YoY on pricing and lower freight costs.
Alcohol Brands segment recorded $39.9M impairment charge; segment net sales rose 30.6% to $35.2M.
Repurchased ~0.8M shares at avg $54.57 in Q4; $642.4M remaining under repurchase programs.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Monster Beverage Corp reported the 2023 fourth quarter results: revenue $1.73 billion, net income $367.0 million.

Period: the 2023 fourth quarter
Revenue: $1.73 billion
Net income: $367.0 million
Result: reported results

Exact text from the filing

Monster Beverage Reports 2023 Fourth Quarter and Full-Year Financial Results -- Record Fourth Quarter Net Sales Rise 14.4 Percent to $1.73 Billion -- -- Net Sales, Adjusted for Adverse Changes in Foreign Currency of $27.1 Million, Rise 16.1 Percent -- -- Gross Profit as a Percentage of Net Sales Improves to 54.2 Percent on a Reported Basis and to 54.5 Percent Excluding the Bang Inventory Step-Up -- -- Fourth Quarter Net Income Increases 21.6 Percent to $367.0 Million -- -- Fourth Quarter Net Income, Excluding Alcohol Brands Segment Impairment Charges and the Bang Inventory Step-Up, Increases 33.1 Percent to $401.5 Million -- Corona, CA – February 28, 2024* – Monster Beverage Corporation (NASDAQ: MNST) today reported financial results for the three- and twelve-months ended December 31, 2023.

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Source: SEC EDGAR

accession 0001104659-24-028951

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