Monster Beverage misses by $0.01, reports revs in-line; stock indicated -4% post earnings
- Reports Q1 (Mar) earnings of $0.38 per share, excluding non-recurring items, $0.01 worse than the Capital IQ Consensus of $0.39; revenues rose 14.7% year/year to $850.92 mln vs the $845.88 mln Capital IQ Consensus.
- Gross profit, as a percentage of net sales, for the 2018 first quarter was 60.6 percent, compared with 64.8 percent in the 2017 first quarter
- The Company estimates that distributor termination expenses in the 2018 first quarter reduced reported earnings by approximately $0.01 per share, after tax
- Net sales for the Company's Monster Energy Drinks segment, which includes the Company's Monster Energy drinks, Monster Hydro energy drinks and Mutant Super Soda drinks, increased 16.7 percent to $780.5 million for the 2018 first quarter, from $668.6 million for the same period last year. Net sales for the Company's Monster Energy Drinks segment for the 2018 first quarter were negatively impacted by $3.9 million, due to the adoption of ASC 606.
- Net sales for the Company's Strategic Brands segment, which includes the various energy drink brands acquired from The Coca-Cola Company, decreased 3.3 percent to $65.8 million for the 2018 first quarter, from $68.0 million in the comparable 2017 quarter.
- Net sales to customers outside the United States increased 26.8 percent to $242.1 million in the 2018 first quarter, from $190.9 million in the corresponding quarter in 2017.
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