Monster Beverage Q4 Profit Increases

(RTTNews) - Monster Beverage Corp. (MNST) reported that its net income for the 2020 fourth quarter increased 85.0 percent to $471.7 million, from $255.0 million in the 2019 fourth quarter. Net income per share for the 2020 fourth quarter increased 87.5 percent to $0.88, from $0.47 in the fourth quarter of 2019.

Net income per share for the 2020 fourth quarter, excluding the Non-Recurring Tax Benefit, the impact of the Product Returns, associated inventory provisions and other related costs, increased 30.6 percent to $0.62 from $0.47 in the fourth quarter of 2019. Analysts polled by Thomson Reuters expected the company to report earnings of $0.62 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales for the 2020 fourth quarter increased 17.6 percent to $1.20 billion, from $1.02 billion in the same period last year. Analysts expected revenue of $1.13 billion for the quarter.