Monster Beverage Reports 2017 First Quarter Financial Results
-- First Quarter Net Sales Rise 9.1 percent to $742.1 million --
-- First Quarter Net Income Increases 8.6 percent to $178.0 million --
-- First Quarter Net Income per diluted share increases 15.8 percent to $0.31 per share --
CORONA, Calif., May 04, 2017 (GLOBE NEWSWIRE) -- Monster Beverage Corporation (NASDAQ:MNST) today reported financial results for the first quarter ended March 31, 2017.
Net sales for the 2017 first quarter increased 9.1 percent to $742.1 million from $680.2 million in the same period last year. Gross sales for the 2017 first quarter increased 8.8 percent to $845.5 million from $777.5 million in the same period last year.
Net sales for the Company's Monster Energy® Drinks segment, which is comprised of the Company's Monster Energy® drinks, as well as Mutant® Super Soda drinks, increased 7.5 percent to $668.6 million for the 2017 first quarter, from $621.7 million for the same period last year. Net sales for the Company's Strategic Brands segment, which includes the various energy drink brands acquired from The Coca-Cola Company, increased 16.4 percent to $68.0 million for the 2017 first quarter, from $58.5 million in the comparable 2016 quarter. Net sales for the Company's Other segment, which includes certain products of American Fruits & Flavors sold to independent third parties, were $5.5 million for the 2017 first quarter. There were no net sales for the Other segment for the 2016 first quarter.