Monster Beverage posts higher Q1 revenue on resilient demand, easing costs

Federal Realty Investment Trust

02/05/2024 23:22

May 2 - Monster Beverage  MNST.O  reported a 12% jump in
first-quarter revenue on Thursday, helped by steady demand for
the energy drink maker's high-priced juices as well as easing
freight costs.
    Demand for the company's energy drinks, including Monster
Energy and Tour Water, held as inflation-weary customers
stretched their budgets to spend on at-home meals and beverages.
    Last month, peer Keurig Dr Pepper  KDP.O  and larger peer
Coca-Cola  KO.N  also reported an upswing in consumer demand for
their beverages.
    For the three months ended March 31, the company posted net
sales of $1.90 billion, in line with market expectations.
    Price hikes undertaken by Monster Ultra maker over the past
quarters helped it shield margins from rising costs of aluminum
and sugar.
    Gross profit as a percentage of net sales for the first
quarter was 54.1% compared with 52.8% in the prior year, 
bolstered by lower input costs. 

  

 (Reporting by Anuja Bharat Mistry and Aatrayee Chatterjee in
Bengaluru; Editing by Tasim Zahid)
 ((AnujaBharat.Mistry@thomsonreuters.com;))