MNST stock is having a good day as Monster Beverage Corp (NASDAQ:MNST) released its Q1 2019 results and surprised its investors yet again as it exceeded expectations handsomely.
As far as success stories go, Monster Beverages is one of the biggest ones of the last two decades and slowly but steadily the company has grown into a global behemoth. The company’s hyper-growth has been particularly impressive considering the fact that over the past few years, there have been a lot of concerns about the sugar-rich drinks that it produces and Monster has managed to tide over the problem to continue to deliver great results for its investors.
Considering the fact that there are plenty of competitors in the market for Monster, there was a consensus among many that the company’s results would only a show a mild uptick, but the actual results were far better.
Revenues soared by 11% year-on-year to $946 million and easily surpassed the 7% sales growth that had been expected from the company. On top of that, the net income stood at $261.5 million, which reflects a year-on-year rise of 21%.
The earnings per share for the quarter stood at $0.48 per share against investors’ estimates of $0.42 per share. MNST stock had to wade through a choppy currency scenario in this quarter, but even then its international sales grew at a faster rate than domestic sales. International sales, which great at 17% in the quarter, constituted 30% of the total sales made by the company.
Rodney Sacks, the Chief Executive Officer at Monster Beverages, stated that Monster Energy brand drinks were the biggest reason behind the company’s stupendous show in this quarter. However, he hastened to add that newer products under the flagship brand also did well. The company expects to introduce many new brands of drink this year, and those are expected to drive further growth.
In 2019, Monster will also launch its affordable energy brand Predator across a range of markets, and a slew of new product launches are expected throughout the rest of the year.
The bumper results and that promise of newer products were cheered on by investors as MSNT stock rose by 8%.
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