Despite declines in its North American business, Monster Energy Corp. saw net sales grow by double digits during the third quarter, the company announced in an earnings report yesterday. Speaking with investors during an earnings call, Monster vice chairman and president Hilton Schlosberg reported that net sales grew 11.6% to $1.13 billion, up from $1.02 billion in the third quarter of last year.
Net sales for the company’s Monster Energy Drinks segment increased 8.8 percent in Q1 to $845.5 million as compared to $777.5 in 2016, while net sales for Monster’s Strategic Brands segment were also up to $68 million as compared to $58.5 million for the same period in 2016.
Craft root beer maker Thunder Beast faces a trademark infringement suit from Monster Energy, while Unique Beverage Company is hit with class action litigation over allegations its coconut flavored sparkling water is deceiving to consumers
Bonnie Herzog, Managing Director of Equity Research at Wells Fargo, wrote in the March 30 edition of the company’s “Beverage Buzz” newsletter that Monster has delayed the launch of Hydro “due to unforeseen production complications.”
Monster Energy surprised analysts Wednesday with its unexpectedly solid Q4 financial results report, which showed the company’s net sales up 16.8 percent from the previous year to $753.8 million
Slow sales during last year’s Q4 launch of Monster Energy’s Mutant have weakened retailer expectations for the company’s new “super soda” Mountain Dew competitor, according to Wells Fargo Securities’ latest “Beverage Buzz” convenience store report.
Executives from Monster Beverage Corporation discussed a variety of topics on Thursday during the company’s annual investor call, including the performance of its new Mutant “super soda” drink and the status of its forthcoming coffee innovation, Cafe Monster.
As 2016 nears the finish line, it’s time to reflect on some of the biggest beverage stories of the past year. We at BevNET checked the most popular stories on our site and have put together our Top 10 of the most read of the past year.