Monster Beverage Corp reports results for the quarter ended June 30 - Earnings Summary

• Monster Beverage Corp MNST.OQ reported quarterly adjusted earnings of 51 cents​​ per share for the quarter ended June 30, higher than the same quarter last year, when the company reported EPS of 41 cents. The mean expectation of eighteen analysts for the quarter was for earnings of 48 cents per share. Wall Street expected results to range from 46 cents to 50 cents per share.

• Revenue rose 11.1% to $2.11 billion from a year ago; analysts expected $2.08 billion.

• Monster Beverage Corp's reported EPS for the quarter was 50 cents​.

• The company reported quarterly net income of $488.79 million.

• Monster Beverage Corp shares had fallen by 5.0% this quarter and gained 13.2% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had risen by about 0.4% in the last three months.​

• In the last 30 days, three analysts negatively revised earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 14 "strong buy" or "buy," 10 "hold" and 2 "sell" or "strong sell." The average consensus recommendation for the non-alcoholic beverages peer group is "hold."

• Wall Street's median 12-month price target for Monster Beverage Corp is $64.50, about 5.7% above its last closing price of $60.80

This summary was machine generated from LSEG data August 8 at 03:21 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)