Monster Board Approves $250 Million Buy Back in Outstanding Stock
For the second time in three months, Monster Beverage’s board of directors has authorized a repurchase of up to $250 million of the company’s outstanding common stock. Monster’s board initiated the stock repurchase following weaker than expected third quarter revenues and profits. The company achieved $541.9 million in revenue for the quarter – a 14 percent jump in year over year sales – but fell well short of the $578.4 million that analysts projected.