Press release
Monster Beverage Reports 2019 Fourth Quarter and Full Year Financial Results
-- Fourth Quarter Net Sales rise 10.1 percent to $1.02 billion ---- Fourth Quarter Net Income increases 6.6 percent to $255.0 million ---- Fourth Quarter Net
About this update from Monster Beverage Corporation
[{"type":"text","content":"-- Fourth Quarter Net Sales rise 10.1 percent to $1.02 billion ---- Fourth Quarter Net Income increases 6.6 percent to $255.0 million ---- Fourth Quarter Net Income per diluted share increases 9.7 percent to $0.47 per share --\n CORONA, Calif., Feb. 27, 2020 (GLOBE NEWSWIRE) -- Monster Beverage Corporation (NASDAQ: MNST) today reported financial results for the three- and twelve-months ended December 31, 2019. Fourth Quarter ResultsNet sales for the 2019 fourth quarter increased 10.1 percent to $1.02 billion from $924.2 million in the same period last year. Gross sales for the 2019 fourth quarter increased 10.3 percent to $1.17 billion from $1.06 billion in the same period last year. The comparative net and gross sales for the 2018 fourth quarter were negatively impacted by approximately $16.0 million and $18.0 million, respectively, due to advance purchases made by our customers in anticipation of a price increase effective November 1, 2018 in the United States. Net changes in foreign currency exchange rates had an unfavorable impact on net and gross sales for the 2019 fourth quarter of $9.1 million and $10.9 million, respectively. Net sales for the Company’s Monster Energy® Drinks segment, which primarily includes the Company’s Monster Energy® drinks and Reign Total Body Fuel™ high performance energy drinks, increased 11.7 percent to $953.2 million for the 2019 fourth quarter, from $853.3 million for the 2018 fourth quarter. Net changes in foreign currency exchange rates had an unfavorable impact on net sales for the Monster Energy® Drinks segment of approximately $8.5 million for the 2019 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, decreased 10.1 percent to $59.2 million for the 2019 fourth quarter, from $65.8 million in the 2018 fourth quarter. Net changes in foreign currency exchange rates had an unfavorable impact on net sales for the Strategic Brands segment of $0.6 million for the 2019 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 parties (the “AFF Third-Party Products”), were $4.9 million for the 2019 fou...