Monster Beverage Corporation (NASDAQ: MNST) today reported
financial results for the three- and twelve-months ended December
31, 2022.
The Company achieved record fourth quarter net sales of $1.51
billion for the 2022 fourth quarter, 6.2 percent higher than net
sales for the 2021 comparable period. Net changes in foreign
currency exchange rates had an unfavorable impact on net sales for
the 2022 fourth quarter of $81.9 million. Net sales on a foreign
currency adjusted basis increased 11.9 percent for the 2022 fourth
quarter.
The Company implemented a price increase effective September 1,
2022 in the United States and continued to implement price
increases in certain international markets in the fourth quarter of
2022, all of which positively impacted gross profit
margins.
Since the beginning of the COVID-19 pandemic and the subsequent
global supply chain challenges and disruptions, the Company has
prioritized product availability for its consumers and customers,
despite adversely impacting gross margins and operating income.
CANarchy Craft Brewery Collective LLC was acquired in February
2022 to facilitate the Company’s entry into the alcohol beverage
sector. During 2022, CANarchy sustained margin pressures, costs of
acquisition and integration, as well as certain other costs in
preparation for the launch of the Company’s new alcohol product
lines.
Gross profit as a percentage of net sales increased on a
sequential quarterly basis to 51.8 percent in the 2022 fourth
quarter, from 51.3 percent in the 2022 third quarter.
Gross profit as a percentage of net sales, excluding gross
profit for the Company’s Alcohol Brands segment, increased on a
sequential quarterly basis to 52.5 percent in the 2022 fourth
quarter, from 51.9 percent in the 2022 third
quarter.
As of December 31, 2022, the Company had $1.31 billion in cash
and cash equivalents, $1.36 billion in short-term investments and
$61.4 million in long-term investments.
Fourth Quarter ResultsNet sales for the 2022
fourth quarter increased 6.2 percent to $1.51 billion from $1.43
billion in the same period last year. Net changes in
foreign currency exchange rates had an unfavorable impact on net
sales for the 2022 fourth quarter of $81.9 million. Net sales on a
foreign currency adjusted basis increased 11.9 percent in the 2022
fourth 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 2.6 percent to
$1.39 billion for the 2022 fourth quarter, from $1.35 billion for
the 2021 fourth quarter. Net changes in foreign currency exchange
rates had an unfavorable impact on net sales for the Monster
Energy® Drinks segment of approximately $76.9 million for the 2022
fourth quarter. Net sales on a foreign currency adjusted basis for
the Monster Energy® Drinks segment increased 8.3 percent in the
2022 fourth 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, increased 41.8 percent to $93.0 million for the 2022 fourth
quarter, from $65.6 million in the 2021 fourth quarter. Net changes
in foreign currency exchange rates had an unfavorable impact on net
sales for the Strategic Brands segment of approximately $5.0
million for the 2022 fourth quarter. Net sales on a foreign
currency adjusted basis for the Strategic Brands segment increased
49.4 percent in the 2022 fourth 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 $26.9 million for
the 2022 fourth 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 23.1 percent
to $4.6 million for the 2022 fourth quarter, from $6.0 million in
the 2021 fourth quarter.
Net sales to customers outside the United States increased 6.8
percent to $542.5 million in the 2022 fourth quarter, from $508.1
million in the 2021 fourth quarter. Such sales were approximately
36 percent of total net sales in both the 2022 and 2021 fourth
quarters. Net sales to customers outside the United States, on a
foreign currency adjusted basis, increased 22.9 percent in the 2022
fourth quarter.
Gross profit as a percentage of net sales for the 2022 fourth
quarter was 51.8 percent, compared with 53.9 percent in the 2021
fourth quarter and 51.3 percent for the 2022 third quarter. The
decrease in gross profit as a percentage of net sales for the 2022
fourth quarter was primarily the result of (i) increased ingredient
and other input costs, including secondary packaging materials and
increased co-packing fees, (ii) geographical and product sales mix,
and (iii) increased logistical costs. The decrease in gross profit
as a percentage of net sales for the 2022 fourth quarter was
partially offset by pricing actions.
Operating expenses for the 2022 fourth quarter were $390.0
million, compared with $354.7 million in the 2021 fourth quarter.
The increase in operating expenses was primarily due to increased
warehousing and other logistical expenses, increased payroll
expenses and increased general and administrative expenses.
Operating expenses as a percentage of net sales for the 2022
fourth quarter were 25.8 percent, compared with 24.9 percent in the
2021 fourth quarter, and 28.9 percent for the 2019 fourth quarter
(pre COVID-19).
Distribution costs for the 2022 fourth quarter increased to
$76.1 million, an increase of 9.0 percent, or 5.0 percent of net
sales, compared with $69.8 million, or 4.9 percent of net sales, in
the 2021 fourth quarter, and 3.5 percent of net sales in the 2019
fourth quarter (pre COVID-19).
Selling expenses as a percentage of net sales for the 2022
fourth quarter were 9.6 percent, compared with 9.9 percent in the
2021 fourth quarter, and 12.3 percent in the 2019 fourth quarter
(pre COVID-19).
General and administrative expenses for the 2022 fourth quarter
were $168.5 million, or 11.1 percent of net sales, compared with
$143.9 million, or 10.1 percent of net sales, for the 2021 fourth
quarter, and 13.1 percent for the 2019 fourth quarter (pre
COVID-19). Stock-based compensation was $14.9 million for the
fourth quarter of 2022, compared with $18.1 million in the 2021
fourth quarter.
Operating income for the 2022 fourth quarter was $394.4 million,
compared with $412.9 million in the 2021 fourth quarter. Operating
income for the 2022 fourth 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 both 2022 and 2021 fourth quarters
was 23.3 percent.
Net income for the 2022 fourth quarter decreased 6.1 percent to
$301.7 million, from $321.3 million in the 2021 fourth quarter. Net
income per diluted share for the 2022 fourth quarter decreased 4.9
percent to $0.57, from $0.60 in the fourth quarter of 2021.
Vice Chairman and Co-Chief Executive Officer Hilton H.
Schlosberg said: “We are pleased to report another quarter
of continued revenue growth. The energy drink category
continues to expand globally. The results from our overseas
operations were again overshadowed by the strength of the United
States dollar in the quarter. Gross profit margin percentages
increased on a sequential quarterly basis as a result of our
pricing actions, as well as certain of our supply
chain challenges moderating.
“We are continuing to deplete the remaining higher cost imported
can inventories in the United States and in EMEA, which
should be fully utilized during 2023.
“We believe that some of the increased costs that we have
experienced in 2022 are likely to be transitory, although cost
inflation, including increases in energy particularly in
EMEA, ingredient and other input costs, as well
as co-packing fees, remain challenging.
“Certain price increases are being implemented on a phased
approach during the first half of 2023, some in addition
to price increases or pricing actions already taken in 2022,”
Schlosberg added.
Rodney C. Sacks, Chairman and Co-Chief Executive Officer
said: “We continued to expand distribution of our brands in
our domestic and international markets in the fourth quarter of
2022, as well as in the current quarter. In the United States,
we launched Monster Energy® Zero Sugar at retail in January
2023, as well as Monster Energy® Ultra Strawberry Dreams,
Monster® (stylized) Reserve Kiwi Strawberry, Monster Energy® Nitro
Cosmic Peach and Java Monster® Caffe Latte earlier this month.
“We recently launched our first flavored malt beverage alcohol
product, The Beast Unleashed™ in six states. The Beast
Unleashed™ contains six percent alcohol by volume and is available
in four flavors. We are pleased with early results and plan to
expand into additional markets in the 2023 second quarter, with the
goal of being national by the end of the year. We have also
commenced with the launch of Monster® Tour Water™, a pure
unflavored water line, in still and sparkling
variants in 19.2 oz cans. We are planning to launch Reign
Storm®, which is positioned as a total wellness energy drink, in 12
oz sleek cans at retail in March 2023 in four flavors, to
address a compelling opportunity in the energy drink
category.
“In EMEA, as part of an ongoing pan-EMEA launch in the
first quarter of 2023, we commenced distribution of Monster
Energy® Lewis Hamilton 44 Zero Sugar. We also launched
Fury, one of our affordable energy brands, in Egypt.
“We are planning to transition the Monster
brand to the Coca-Cola distribution system in the
Philippines in the second quarter of 2023.
“Our innovation pipeline of both alcoholic and non-alcoholic
beverages continues to be robust,” Sacks added.
2022 Full-Year ResultsNet sales for the
twelve-months ended December 31, 2022 increased 13.9 percent to
$6.31 billion, from $5.54 billion in the comparable period last
year. Net changes in foreign currency exchange rates had an
unfavorable impact on net sales for the twelve-months ended
December 31, 2022 of $239.5 million. Net sales on a foreign
currency adjusted basis increased 18.2 percent for the
twelve-months ended December 31, 2022.
Gross profit, as a percentage of net sales, for the
twelve-months ended December 31, 2022 was 50.3 percent, compared
with 56.1 percent in the comparable period last year.
Operating expenses for the twelve-months ended December 31, 2022
were $1.59 billion, compared with $1.31 billion in the comparable
period last year.
Operating income for the twelve-months ended December 31,
2022 decreased to $1.58 billion, from $1.80 billion in the
comparable period last year.
The effective tax rate was 24.2 percent for the twelve-months
ended December 31, 2022, compared with 23.5 percent in the
comparable period last year.
Net income for the twelve-months ended December 31, 2022
decreased 13.5 percent to $1.19 billion, from $1.38 billion in the
comparable period last year. Net income per diluted share for
the twelve-months ended December 31, 2022 decreased 13.1
percent to $2.23, from $2.57 in the comparable period last
year.
Share Repurchase ProgramDuring the
2022 fourth quarter, the Company purchased approximately 2.3
million shares of its common stock at an average purchase price of
$89.10 per share, for a total amount of $201.6 million (excluding
broker commissions).
As of February 28, 2023, approximately $682.8
million remained available for repurchase under the previously
authorized repurchase programs.
Stock SplitThe Company today
announced that its Board of Directors has approved and declared a
2-for-1 split of its common stock that will be effected in the form
of a 100% stock dividend. Each stockholder of record on March 13,
2023 will receive a dividend of one additional share of common
stock for each then-held share, to be distributed after close of
trading on March 27, 2023. The Company anticipates its common stock
to begin trading at the split-adjusted price on March 28, 2023.
Investor Conference CallThe
Company will host an investor conference call today, February 28,
2023, 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® drinks, Monster
Energy Ultra® energy drinks, Juice Monster® Energy + Juice energy
drinks, Java Monster® non-carbonated coffee + 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 Dragon Iced Tea® non-carbonated energy teas,
Monster Energy® Nitro energy drinks, Reign Total Body Fuel® high
performance energy drinks, Reign Inferno® thermogenic fuel high
performance energy drinks, Reign Storm® Total Wellness 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® drinks, Live+® energy drinks, Predator® energy drinks
and Fury® energy drinks. The Company’s subsidiaries also develop
and market still and sparkling waters under the Monster® Tour
Water™ brand name. The Company’s subsidiaries also develop and
market craft beers, hard seltzers and flavored malt beverages under
a number of brands, including Jai Alai® IPA, Dale’s Pale Ale®, Wild
Basin™ hard seltzers, Dallas Blonde® and The Beast Unleashed™.
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, 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; 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, alcohol consumption and other 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; 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 or alcohol drinks and/or
the energy or alcohol drink markets 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 or alcohol drinks
to minors and/or persons below a specified age and/or restrict the
venues and/or the size of containers in which energy or alcohol
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 reports. 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
SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF
INCOME AND OTHER INFORMATIONFOR THE THREE- AND
TWELVE-MONTHS ENDED DECEMBER 31, 2022 AND 2021(In
Thousands, Except Per Share Amounts)
(Unaudited)
|
Three-Months Ended |
|
Twelve-Months Ended |
|
December 31, |
|
December 31, |
|
|
2022 |
|
|
|
2021 |
|
|
|
2022 |
|
|
|
2021 |
|
|
|
|
|
|
|
|
|
Net
sales¹ |
$ |
1,512,930 |
|
|
$ |
1,425,045 |
|
|
$ |
6,311,050 |
|
|
$ |
5,541,352 |
|
|
|
|
|
|
|
|
|
Cost
of sales |
|
728,615 |
|
|
|
657,465 |
|
|
|
3,136,483 |
|
|
|
2,432,839 |
|
|
|
|
|
|
|
|
|
Gross
profit¹ |
|
784,315 |
|
|
|
767,580 |
|
|
|
3,174,567 |
|
|
|
3,108,513 |
|
Gross
profit as a percentage of net sales |
|
51.8% |
|
|
|
53.9% |
|
|
|
50.3% |
|
|
|
56.1% |
|
|
|
|
|
|
|
|
|
Operating expenses |
|
389,964 |
|
|
|
354,700 |
|
|
|
1,589,846 |
|
|
|
1,311,046 |
|
Operating expenses as a percentage of net sales |
|
25.8% |
|
|
|
24.9% |
|
|
|
25.2% |
|
|
|
23.7% |
|
|
|
|
|
|
|
|
|
Operating income¹ |
|
394,351 |
|
|
|
412,880 |
|
|
|
1,584,721 |
|
|
|
1,797,467 |
|
Operating income as a percentage of net sales |
|
26.1% |
|
|
|
29.0% |
|
|
|
25.1% |
|
|
|
32.4% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other
(expense) income, net |
|
(825 |
) |
|
|
6,131 |
|
|
|
(12,757 |
) |
|
|
3,952 |
|
|
|
|
|
|
|
|
|
Income before provision for income taxes¹ |
|
393,526 |
|
|
|
419,011 |
|
|
|
1,571,964 |
|
|
|
1,801,419 |
|
|
|
|
|
|
|
|
|
Provision for income taxes |
|
91,853 |
|
|
|
97,697 |
|
|
|
380,340 |
|
|
|
423,944 |
|
Income taxes as a percentage of income before taxes |
|
23.3% |
|
|
|
23.3% |
|
|
|
24.2% |
|
|
|
23.5% |
|
|
|
|
|
|
|
|
|
Net
income |
$ |
301,673 |
|
|
$ |
321,314 |
|
|
$ |
1,191,624 |
|
|
$ |
1,377,475 |
|
Net
income as a percentage of net sales |
|
19.9% |
|
|
|
22.5% |
|
|
|
18.9% |
|
|
|
24.9% |
|
|
|
|
|
|
|
|
|
Net
income per common share: |
|
|
|
|
|
|
|
Basic |
$ |
0.58 |
|
|
$ |
0.61 |
|
|
$ |
2.26 |
|
|
$ |
2.61 |
|
Diluted |
$ |
0.57 |
|
|
$ |
0.60 |
|
|
$ |
2.23 |
|
|
$ |
2.57 |
|
|
|
|
|
|
|
|
|
Weighted average number of shares of common stock and common stock
equivalents: |
|
|
|
|
|
|
|
Basic |
|
522,373 |
|
|
|
529,193 |
|
|
|
526,779 |
|
|
|
528,763 |
|
Diluted |
|
529,155 |
|
|
|
535,747 |
|
|
|
533,221 |
|
|
|
535,639 |
|
|
|
|
|
|
|
|
|
Energy drink case sales (in thousands) (in 192-ounce case
equivalents) |
|
166,227 |
|
|
|
153,450 |
|
|
|
701,677 |
|
|
|
613,441 |
|
|
|
|
|
|
|
|
|
Average net sales per case2 |
$ |
8.91 |
|
|
$ |
9.25 |
|
|
$ |
8.82 |
|
|
$ |
8.99 |
|
|
|
|
|
|
|
|
|
1Includes $9.9 million and $10.2 million for the
three-months ended December 31, 2022 and 2021, respectively,
related to the recognition of deferred revenue. Includes $40.0
million and $41.5 million for the twelve-months ended December 31,
2022 and 2021, respectively, related to the recognition of deferred
revenue.
2Excludes Alcohol segment net sales of $26.9
million for the three-months ended December 31, 2022. Excludes
Other segment net sales of $4.6 million and $6.0 million for the
three-months ended December 31, 2022 and 2021, respectively,
comprised of net sales of AFF Third-Party Products to independent
third-party customers. Excludes Alcohol segment net sales of $101.4
million for the twelve-months ended December 31, 2022. Excludes
Other segment net sales of $22.9 million and $25.9 million for the
twelve-months ended December 31, 2022 and 2021, respectively,
comprised of net sales of AFF Third-Party Products to independent
third-party customers.
MONSTER BEVERAGE CORPORATION AND
SUBSIDIARIESCONDENSED CONSOLIDATED BALANCE
SHEETSAS OF DECEMBER 31, 2022 AND DECEMBER 31,
2021(In Thousands, Except Par Value)
(Unaudited)
|
|
December 31,2022 |
|
December 31,2021 |
ASSETS |
|
|
|
|
CURRENT ASSETS: |
|
|
|
|
Cash and cash equivalents |
|
$ |
1,307,141 |
|
|
$ |
1,326,462 |
|
Short-term investments |
|
|
1,362,314 |
|
|
|
1,749,727 |
|
Accounts receivable, net |
|
|
1,016,203 |
|
|
|
896,658 |
|
Inventories |
|
|
935,631 |
|
|
|
593,357 |
|
Prepaid expenses and other
current assets |
|
|
109,823 |
|
|
|
82,668 |
|
Prepaid income taxes |
|
|
33,785 |
|
|
|
33,238 |
|
Total current assets |
|
|
4,764,897 |
|
|
|
4,682,110 |
|
|
|
|
|
|
INVESTMENTS |
|
|
61,443 |
|
|
|
99,419 |
|
PROPERTY AND EQUIPMENT,
net |
|
|
516,897 |
|
|
|
313,753 |
|
DEFERRED INCOME TAXES |
|
|
177,039 |
|
|
|
225,221 |
|
GOODWILL |
|
|
1,417,941 |
|
|
|
1,331,643 |
|
OTHER INTANGIBLE ASSETS,
net |
|
|
1,220,410 |
|
|
|
1,072,386 |
|
OTHER ASSETS |
|
|
134,478 |
|
|
|
80,252 |
|
Total Assets |
|
$ |
8,293,105 |
|
|
$ |
7,804,784 |
|
|
|
|
|
|
LIABILITIES AND STOCKHOLDERS’ EQUITY |
|
|
|
|
CURRENT LIABILITIES: |
|
|
|
|
Accounts payable |
|
$ |
444,265 |
|
|
$ |
404,263 |
|
Accrued liabilities |
|
|
172,991 |
|
|
|
210,964 |
|
Accrued promotional
allowances |
|
|
255,631 |
|
|
|
211,461 |
|
Deferred revenue |
|
|
43,311 |
|
|
|
42,530 |
|
Accrued compensation |
|
|
72,463 |
|
|
|
65,459 |
|
Income taxes payable |
|
|
13,317 |
|
|
|
30,399 |
|
Total current liabilities |
|
|
1,001,978 |
|
|
|
965,076 |
|
|
|
|
|
|
DEFERRED REVENUE |
|
|
223,800 |
|
|
|
243,249 |
|
|
|
|
|
|
OTHER LIABILITIES |
|
|
42,286 |
|
|
|
29,508 |
|
|
|
|
|
|
STOCKHOLDERS’ EQUITY: |
|
|
|
|
Common stock -
$0.005 par value; 1,250,000 shares authorized; 641,844 shares
issued and 522,300 shares outstanding as of December 31,
2022; 640,043 shares issued and 529,323 shares outstanding as
of December 31, 2021 |
|
3,209 |
|
|
|
3,200 |
|
Additional paid-in
capital |
|
|
4,780,013 |
|
|
|
4,652,620 |
|
Retained earnings |
|
|
9,001,173 |
|
|
|
7,809,549 |
|
Accumulated other
comprehensive loss |
|
|
(159,073 |
) |
|
|
(69,165 |
) |
Common stock in
treasury, at cost; 119,544 and 110,720 shares as of
December 31, 2022 and December 31, 2021,
respectively |
|
(6,600,281 |
) |
|
|
(5,829,253 |
) |
Total stockholders’ equity |
|
|
7,025,041 |
|
|
|
6,566,951 |
|
Total Liabilities and Stockholders’
Equity |
|
$ |
8,293,105 |
|
|
$ |
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)
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Monster Beverage (NASDAQ:MNST)
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