Monster Beverage Reports EPS Miss, Better Than Expected Revenue
2022.05.06 01:31
Monster Beverage Reports EPS Miss, Better Than Expected Revenue
Monster Beverage (NASDAQ:MNST) reported its Q1 results, with EPS of $0.55 coming in worse than the consensus estimate of $0.61, while revenue of $1.52 million (up 22.1% year-over-year) beat the consensus estimate of $1.43 million.
The company experienced significant increases in the Cost of Sales in Q1 due to increased freight rates and fuel costs, as well as ingredients and other input costs. The company’s operating expenses have also been adversely impacted due to increases in distribution expenses, including increased fuel, freight, and warehousing costs.
On February 17, the company completed its acquisition of CANarchy Craft Brewery Collective LLC for $330.4 million in cash.
By Davit Kirakosyan
