Monster Beverage quarterly net sales exceed $1bn in company first
Monster Beverage Corporation reported that net sales exceeded $1bn in its second quarter, a first in the company's history.
The US beverage firm - which produces energy drinks such as Monster Energy and Relentless - said that overall sales increased 12% to $1.02bn compared to the same time last year when it saw sales of $907.1mn.
The firm said that net sales for the firm’s Monster Energy Drinks segment — which includes Monster Energy drinks and Mutant Super Soda drinks — increased 14% to $929.mn in the second quarter, up from $815.3mn it reported for the same period last year.
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Net sales to customers outside the United States also rose 18.5% to $293.8 million in the second quarter as the firm expanded internationally.
Speaking of the results, Rodney C. Sacks, Chairman and CEO said: “We are pleased to report record quarterly net sales of more than $1.0 billion, a first in our Company’s history.
“We continue to progress our strategic alignment with the Coca-Cola system bottlers. We have reached agreements to transition Monster Energy to Coca-Cola bottlers in Arkansas.
“In the second quarter of 2018, we transitioned parts of Arkansas and are planning on transitioning the remainder of Arkansas in the third quarter of 2018.
“In the second quarter of 2018, we successfully launched our Monster Energy brand with the Coca-Cola bottlers in Belarus, Tanzania and Uruguay and commenced the relaunch of Monster Energy with a Coca-Cola bottler in select cities in India.
“We launched Monster Energy in Ecuador in July 2018 and are planning further international launches later this year.”
During its second quarter, Monster Beverages net income rose 21.3% to $270.1mn from $222.6mn during the same period last year.
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