Monster Beverage Corp. (Nasdaq: MNST) reported strong financial results for the three- and six-months ended, Jun. 30, 2021. Despite the ongoing impact of the COVID-19 pandemic, the company achieved record second-quarter net sales.
The adverse impact of the COVID-19 pandemic on the company’s net sales was more pronounced in the comparative 2020 second quarter.
That said, net sales for the 2021 second quarter soared 33.6% to $1.46 billion, from $1.09 billion in the same period last year. Net changes in foreign currency exchange rates had a favorable impact on net sales for the 2021 second quarter of $38.6 million.
Net sales for the company’s Monster Energy Drinks segment, which primarily includes Monster Energy drinks and Reign Total Body Fuel high-performance energy drinks, increased 33% to $1.37 billion for the 2021 second quarter, from $1.03 billion for the 2020 second quarter.
Net sales for the company’s Strategic Brands segment, which primarily includes the various energy drink brands acquired from Coca-Cola Co., as well as Monster’s affordable energy brands, increased 45.9% to $86.9 million for the 2021 second quarter, from $59.6 million in the 2020 second quarter.
Net sales for Monster's "other" segment, which includes certain products of American Fruits and Flavors LLC, a wholly owned subsidiary, sold to independent third-party customers increased to $7.9 million for the 2021 second quarter, from $6.6 million in the 2020 second quarter.
Net sales to customers outside the United States increased 66.4% to $546.3 million in the 2021 second quarter, from $328.3 million in the 2020 second quarter.
