Monster Beverage Corp. reported record financial results for the three and 12 months ended Dec. 31. The company, whose energy drinks are popular in vending machines and micro markets, achieved record fourth-quarter and full-year net sales, with annual net sales exceeding the $5.5 billion mark for the first time in its history – notwithstanding the impact of the COVID-19 pandemic.
Monster's fourth-quarter results
Net sales for the 2021 fourth quarter increased 19.1% to $1.43 billion from $1.20 billion in the comparable period last year. Net changes in foreign currency exchange rates had an unfavorable impact on net sales for the 2021 fourth quarter of $2.4 million.
Net sales for the company’s Monster Energy Drinks segment, which also includes Reign Total Body Fuel and True North Pure Energy Seltzers, increased 20..7% to $1.35 billion for the 2021 fourth quarter, from $1.12 billion for the 2020 fourth quarter.
Monster's 2021 full-year results
Net sales for the 12 months, ended Dec. 31, increased 20.5% to $5.54 billion, from $4.60 billion in the comparable period last year. Net changes in foreign currency exchange rates had a favorable impact on net sales for the 2021 year of $61.9 million.
Gross profit, as a percentage of net sales for 2021, was 56.1%, compared with 59.2% in the comparable period last year. Monster said decrease in gross profit as a percentage of net sales was primarily the result of increased aluminum can costs attributable to higher aluminum commodity pricing, increased costs of certain other raw materials and ingredients, increased freight-in costs and geographical sales mix.
Based in Corona, CA, Monster Beverage Corp. is a holding company and conducts no operating business except through its consolidated subsidiaries.
