Monster Beverage Falls After Q2 Results (MNST)
Monster Beverage (NASDAQ: MNST) released its fiscal second-quarter earnings results on Thursday after the closing bell.
The company missed both Wall Street earnings per share and revenue estimates, sending the stock down around 5 percent to $60.40 in late trade.
Rodney C. Sacks, Chairman and Chief Executive Officer, said: "We are pleased to report another quarter of solid sales growth, in both our domestic and international markets, but note that there were certain exceptional costs that affected profitability during the quarter. Despite the single digit category growth rates we are seeing in our major markets, the Monster Energy(R) brand continues to grow in excess of such category growth. Monster Energy(R) Zero Ultra, launched in the third quarter of 2012, has become one of our best-selling products. Following on this success, we launched Monster Energy(R) Ultra Blue in March 2013."
Fiscal Q2 Financial Results
Monster reported a net profit of $106.9 million or $0.62 per share, compared to $109.8 million or $0.59 per share, in last year's corresponding period. The discrepancy in per share earnings was due to a lower share count in the most recent quarter. The results missed analysts' consensus EPS estimates of $0.64 by two cents.
Revenue in the period was $630.93 million from $592.64 million last year. This also came up short of Wall Street revenue expectations of $646.14 million.
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