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Monster Beverage (MNST) Q1 Earnings, Revenues Top Estimates
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Monster Beverage Corporation (MNST - Free Report) reported first-quarter 2017 results, wherein both earnings and revenues surpassed expectations. The company also came up with higher sales and impressive margins.
Monster Beverage’s first-quarter adjusted earnings of 33 cents per share beat the Zacks Consensus Estimate of 32 cents by a penny. Earnings also increased 26.9% year over year on higher sales.
Sales Detail
Net sales of $742.1 million surpassed the Zacks Consensus Estimate of $741.4 million by 0.1%. The figure improved 9.1% year over year.
Foreign currency had an unfavorable impact of $3.7 million on quarterly net sales.
Net sales outside the U.S. increased 28% to $190.9 million in the quarter on a year-over-year basis.
Quarterly Segment Details
Monster Energy Drinks Segment: Net sales at the segment, comprising Monster Energy drinks as well as Mutant Super Soda drinks, were $668.6 million, up 7.5% year over year.
Strategic Brands segment: This segment includes brands acquired from Coca-Cola. Net sales at the segment increased 16.4% to $68 million in the quarter.
Other: Net sales for the company's Other segment, which includes some products of American Fruits & Flavors sold to independent third parties, were $5.5 million in the quarter under review. Notably, the segment had reported no net sales in the prior-year quarter.
Margins
First-quarter 2017 gross margin rose 260 basis points (bps) to 64.8%. Operating expenses increased 28.6% year over year to $216.6 million. Operating income in the quarter was $264.3 million, up 3.8% year over year.
Financials
Monster Beverage ended the quarter with cash and cash equivalent of $576.3 million as of Mar 31, 2017 compared with $377.6 million as of Dec 31, 2016.
PepsiCo, Inc. (PEP - Free Report) reported better-than-expected results in first-quarter 2017 (ending Mar 25), with both earnings and revenues beating the Zacks Consensus Estimate. PepsiCo’s first-quarter core earnings per share (EPS) of 94 cents beat the Zacks Consensus Estimate of 91 cents by 3.3%. Total sales of $12.05 billion surpassed the Zacks Consensus Estimate of $11.97 billion by 0.7%.
Dr Pepper Snapple Group Inc. reported first-quarter 2017 results, with earnings beating the Zacks Consensus Estimate and revenues missing the mark. First-quarter adjusted EPS of $1.01 beat the Zacks Consensus Estimate of 96 cents by 5.2%. Net sales of $1.51 billion missed the Zacks Consensus Estimate of $1.56 billion by 3.2%.
The Coca-Cola Company’s (KO - Free Report) first-quarter 2017 adjusted earnings were 43 cents per share, missing the Zacks Consensus Estimate of 43 cents by 2.3%. Net revenue of $9.12 billion surpassed the Zacks Consensus Estimate of $8.97 billion.
More Stock News: 8 Companies Verge on Apple-Like Run
Did you miss Apple's 9X stock explosion after they launched their iPhone in 2007? Now 2017 looks to be a pivotal year to get in on another emerging technology expected to rock the market. Demand could soar from almost nothing to $42 billion by 2025. Reports suggest it could save 10 million lives per decade which could in turn save $200 billion in U.S. healthcare costs.
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Monster Beverage (MNST) Q1 Earnings, Revenues Top Estimates
Monster Beverage Corporation (MNST - Free Report) reported first-quarter 2017 results, wherein both earnings and revenues surpassed expectations. The company also came up with higher sales and impressive margins.
Monster Beverage’s first-quarter adjusted earnings of 33 cents per share beat the Zacks Consensus Estimate of 32 cents by a penny. Earnings also increased 26.9% year over year on higher sales.
Sales Detail
Net sales of $742.1 million surpassed the Zacks Consensus Estimate of $741.4 million by 0.1%. The figure improved 9.1% year over year.
Foreign currency had an unfavorable impact of $3.7 million on quarterly net sales.
Net sales outside the U.S. increased 28% to $190.9 million in the quarter on a year-over-year basis.
Quarterly Segment Details
Monster Energy Drinks Segment: Net sales at the segment, comprising Monster Energy drinks as well as Mutant Super Soda drinks, were $668.6 million, up 7.5% year over year.
Strategic Brands segment: This segment includes brands acquired from Coca-Cola. Net sales at the segment increased 16.4% to $68 million in the quarter.
Other: Net sales for the company's Other segment, which includes some products of American Fruits & Flavors sold to independent third parties, were $5.5 million in the quarter under review. Notably, the segment had reported no net sales in the prior-year quarter.
Margins
First-quarter 2017 gross margin rose 260 basis points (bps) to 64.8%. Operating expenses increased 28.6% year over year to $216.6 million. Operating income in the quarter was $264.3 million, up 3.8% year over year.
Financials
Monster Beverage ended the quarter with cash and cash equivalent of $576.3 million as of Mar 31, 2017 compared with $377.6 million as of Dec 31, 2016.
Monster Beverage carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Monster Beverage Corporation Price, Consensus and EPS Surprise
Monster Beverage Corporation Price, Consensus and EPS Surprise | Monster Beverage Corporation Quote
Peer Releases
PepsiCo, Inc. (PEP - Free Report) reported better-than-expected results in first-quarter 2017 (ending Mar 25), with both earnings and revenues beating the Zacks Consensus Estimate. PepsiCo’s first-quarter core earnings per share (EPS) of 94 cents beat the Zacks Consensus Estimate of 91 cents by 3.3%. Total sales of $12.05 billion surpassed the Zacks Consensus Estimate of $11.97 billion by 0.7%.
Dr Pepper Snapple Group Inc. reported first-quarter 2017 results, with earnings beating the Zacks Consensus Estimate and revenues missing the mark. First-quarter adjusted EPS of $1.01 beat the Zacks Consensus Estimate of 96 cents by 5.2%. Net sales of $1.51 billion missed the Zacks Consensus Estimate of $1.56 billion by 3.2%.
The Coca-Cola Company’s (KO - Free Report) first-quarter 2017 adjusted earnings were 43 cents per share, missing the Zacks Consensus Estimate of 43 cents by 2.3%. Net revenue of $9.12 billion surpassed the Zacks Consensus Estimate of $8.97 billion.
More Stock News: 8 Companies Verge on Apple-Like Run
Did you miss Apple's 9X stock explosion after they launched their iPhone in 2007? Now 2017 looks to be a pivotal year to get in on another emerging technology expected to rock the market. Demand could soar from almost nothing to $42 billion by 2025. Reports suggest it could save 10 million lives per decade which could in turn save $200 billion in U.S. healthcare costs.
A bonus Zacks Special Report names this breakthrough and the 8 best stocks to exploit it. Like Apple in 2007, these companies are already strong and coiling for potential mega-gains. Click to see them right now >>