Monster Beverage Corp reports results for the quarter ended March 31 - Earnings Summary

• Monster Beverage Corp MNST.OQ reported quarterly adjusted earnings of 47 cents​​ per share for the quarter ended March 31, higher than the same quarter last year, when the company reported EPS of 42 cents. The mean expectation of seventeen analysts for the quarter was for earnings of 46 cents per share. Wall Street expected results to range from 43 cents to 47 cents per share.

• Revenue fell 2.3% to $1.85 billion from a year ago; analysts expected $1.98 billion.

• Monster Beverage Corp's reported EPS for the quarter was 45 cents​.

• The company reported quarterly net income of $442.99 million.

• Monster Beverage Corp shares had risen by 3.5% this quarter and gained 15.2% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 0.2% in the last three months.​

• In the last 30 days, there have been no negative revisions of earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 12 "strong buy" or "buy," 11 "hold" and 2 "sell" or "strong sell." The average consensus recommendation for the non-alcoholic beverages peer group is also "buy"

• Wall Street's median 12-month price target for Monster Beverage Corp is $60.00

This summary was machine generated from LSEG data May 9 at 12:00 a.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)