Monster Beverage Corporation reported its financial results for the three and nine months ended September 30, 2024, showing a mixed performance in revenue and profitability compared to the same periods in 2023.

For the third quarter of 2024, net sales reached $1,880.973 million, a 1.3% increase from $1,856.028 million in Q3 2023. The nine-month figures also reflected growth, with net sales of $5,680.668 million, up 5.0% from $5,409.919 million in the prior year. The Monster Energy® Drinks segment was a significant contributor, generating $1,722.693 million in Q3 2024, compared to $1,708.242 million in Q3 2023. However, the Alcohol Brands segment saw a decline, with sales dropping to $39.784 million from $42.326 million year-over-year.

Gross profit for Q3 2024 was $999.799 million, a 1.6% increase from $983.763 million in Q3 2023. For the nine-month period, gross profit rose to $3,046.433 million, up 6.7% from $2,855.833 million. Operating income for Q3 2024 decreased by 6.0% to $479.916 million from $510.527 million in Q3 2023, while for the nine months, it increased by 2.0% to $1,549.070 million from $1,519.396 million.

Net income for Q3 2024 was $370.919 million, down 18.1% from $452.694 million in Q3 2023. For the nine-month period, net income decreased by 2.0% to $1,238.337 million from $1,264.009 million. Basic net income per share for Q3 2024 was $0.38, down from $0.43 in the same quarter of 2023, while for the nine months, it slightly increased to $1.22 from $1.21.

The company’s total current assets decreased to $3,897.758 million as of September 30, 2024, from $5,588.996 million at the end of 2023. Total assets also fell to $8,053.301 million from $9,686.522 million. Stockholders' equity declined to $5,779.400 million from $8,228.744 million at the end of 2023.

Strategically, Monster Beverage completed the acquisition of Bang Energy assets on July 31, 2023, which has impacted financial results. The company also implemented price increases in international markets, contributing positively to net sales and gross profit margins. However, the Alcohol Brands segment continues to face challenges, with increased operating losses reported.

Cash flows showed improvement, with net cash provided by operating activities for the nine months ending September 30, 2024, at $1,466.832 million, up from $1,283.426 million in 2023. In contrast, cash used in financing activities surged to $(2,967.704) million, primarily due to stock repurchases.

Overall, while Monster Beverage Corporation experienced growth in sales and gross profit, profitability metrics reflected challenges, particularly in the Alcohol Brands segment and net income figures.