Monster Beverage said Q2 2024 net sales rose 2.5% to $1.90 billion, net income rose 2.8% to $425.4 million, and diluted earnings per share were $0.41.

1. 01

   Monster Beverage said Q2 2024 net sales rose 2.5% to $1.90 billion, net income rose 2.8% to $425.4 million, and diluted earnings per share were $0.41.

2. 02

   The company said foreign exchange rates had an unfavorable impact of $67.7 million on net sales for Q2, and net sales on a foreign currency adjusted basis rose 6.1%. It said gross profit as a percentage of net sales was 53.6%, compared with 52.5% in the same period last year.

3. 03

   The company said operating expenses for Q2 rose to $492.3 million from $450.4 million a year earlier, or 25.9% of net sales, and operating income was $527.2 million.

4. 04

   The company said it accepted for purchase about 56.6 million shares at $53.00 per share in its $3.0 billion modified Dutch auction tender offer. It repurchased about 3.9 million shares at about $192.2 million after June 30, 2024, and about $342.4 million remained available for repurchase under the authorized program as of August 6, 2024.

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Original filing

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