This spring’s crop of public company earnings offered a mixed bag of results, as large players struggled, smaller brands soared, and “economic uncertainty” was the phrase of the month. As we close the books on Q1, here’s some of our main takeaways.
Weak alcohol sales dragged on Monster Beverage in Q1, part of a confluence of factors that saw net sales drop 2.3% during the quarter.
‘Pitch Perfect’ pals Anna Kendrick and Rebel Wilson reunite as the faces of a new TV campaign for Primo Brands’ new sparkling Splash Refreshers line, plus more marketing news from Monster, Chamberlain Coffee, Reign Storm, Simply and more.
Monster Brewing will cease operations in Utah late next month, the company announced Thursday. Production of its Utah-based brands Wasatch Brewing and Squatters Brewing will shift to other facilities within Monsters’ bicoastal network, according to a statement from Monster Brewing president Ray LaRue.
In this week’s new products roundup, protein is king with new additions from Lean Body, Quest Nutrition, Joyburst and Genius Gourmet.
Higher expenses weighed on Monster Energy’s Q3 2024 earnings report this week, but the company says it feels optimistic about future growth opportunities as it takes new pricing action across its core portfolio.
Monster Beverage Corporation reported double-digit net sales growth in Q1 2024, rising +11.8% to over $1.9 billion, according to the energy drink manufacturer’s latest earnings report this week.
Monster Beverage Corporation chief executive Rodney Sacks laid out a likely succession plan Thursday that will eventually see co-CEO Hilton Schlosberg taking over the role entirely, as Sacks is “considering” reducing his day-to-day duties sometime next year.
Though finishing slightly below some analyst expectations, Monster Beverage Company reported strong double-digit growth in its Q4 and full year 2023 earnings report yesterday, as improved expenses boosted gross profit even as headwinds from its alcohol business and Bang acquisition impacted results.
With its business expanding amid a rising U.S. energy drink category, Monster Beverage Corporation projected confidence in its widening product portfolio during its annual investor meeting presentation yesterday.
In this week’s marketing roundup, enhanced water concentrate brand MiO takes aim at Gen Z consumers’ dissatisfaction with the “unwelcome side effects” of energy drinks while Rockstar and Monster target the music industry as prime areas to bring new customers to the brands.
Those looking for more clarity on Monster Energy’s plans for Bang during the company’s Q3 earnings call yesterday got only a small taste of how the business is approaching its new acquisition.
Monster Energy’s acquisition of Bang, including the purchase of existing inventory, led to a small drag on gross profit during Q3 2023, according to the company’s latest earnings report today.
After completing its acquisition of Bang manufacturer Vital Pharmaceuticals’ assets on July 31 for $362 million, Monster co-CEO Rodney Sacks said during the company’s Q2 2023 earnings call yesterday that it is now preparing to fully integrate its former rival into the Monster Energy system.
