Monster Profit Misses Estimates

(RTTNews) - Monster Beverage Corp (MNST) on Thursday reported first-quarter net earnings of $4.4 million or $0.03 per share compared with $95.3 million or $0.55 per share last year.

Excluding items, adjusted earnings for the quarter were $0.62 per share.

Analysts polled by Thomson Reuters estimated earnings of $0.68 per share for the quarter. Analysts' estimates typically exclude special items.

The company said results were hurt by $206 million of termination obligations as a result of distributor terminations.

Revenues for the quarter were $626.8 million compared with $536.1 million in the prior year. Adjusted revenues for the quarter totaled $587 million.

Analysts estimated revenues of $601.2 million for the quarter.

In August 2014, Monster and Coca-Cola CO agreed to a long-term strategic partnership to accelerate growth in the global energy drink category. The transaction is expected to close in the second quarter of 2015.

Monster Beverage develops and sells alternate beverage category drinks. Its products include carbonated energy drinks and non-carbonated dairy based coffee, plus energy drinks.