Monster Beverage Corp. (NASDAQ: MNST) released its first-quarter financial results before the markets opened on Friday. The company said it had $0.80 in earnings per share (EPS) on $680.19 million in revenue, versus Thomson Reuters consensus estimates of $0.74 in EPS on $656.81 million in revenue. In the same period of last year, the company posted EPS of $0.64 and $626.79 million in revenue.
For the sake of comparison, and in connection with the long-term strategic partnership entered into with Coca-Cola Co. (NYSE: KO), the comparable 2015 first-quarter financial results included distributor termination costs of $206.0 million, $39.8 million of acceleration of deferred revenue as a result of distributor terminations and transaction related expenses of $3.6 million.
Monster Beverage intends to commence a tender offer in May to purchase up to $2.0 billion in value of its common stock through a modified “Dutch auction” at a price range yet to be determined. Monster will fund the tender offer with cash on hand.
On the books, cash, cash equivalents and marketable securities totaled $3.04 billion at the end of the quarter, compared to $2.92 billion at the end of 2015.
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