Live: Will FedEx Crush Q4 Earnings Tonight After the Market Closes?
Q4 23 EPS
$0.35
MISS 7.89%
Est. $0.38
Q4 23 Revenue
$1.73B
MISS +0.00%
Est. $1.73B
vs S&P Since Q4 23
+14.8%
BEATING MARKET
MNST +59.2% vs S&P +44.4%
Full Year 2023 Results
FY 23 EPS
$1.54
FY 23 Revenue
$7.14B
Market Reaction
Did MNST Beat Earnings? Q4 2023 Results
Monster Beverage delivered a mixed fourth quarter for 2023, matching Wall Street's revenue target while falling short on the bottom line, as a series of one-time charges weighed on reported earnings. The company posted Q4 revenue of $1.73 billion, in… Read more Monster Beverage delivered a mixed fourth quarter for 2023, matching Wall Street's revenue target while falling short on the bottom line, as a series of one-time charges weighed on reported earnings. The company posted Q4 revenue of $1.73 billion, in line with consensus and up 14.3% year-over-year, yet GAAP diluted EPS of $0.35 missed the $0.38 consensus estimate by 7.89%, largely due to $39.90 million in impairment charges tied to the struggling Alcohol Brands segment and a $5.00 million Bang inventory step-up cost. Strip those items out, and adjusted EPS climbs back to $0.38, with adjusted net income rising 33.1% to $401.50 million. The core Monster Energy Drinks segment remained the engine of growth, pushing segment net sales up 15.1% to $1.60 billion, while gross margins expanded to 54.2% from 51.8% a year ago on lower freight and input costs. Looking ahead, the company is leaning into innovation with planned launches including Monster Energy Ultra Fantasy Ruby Red and Nasty Beast hard tea formats through 2024.
Key Takeaways
- • 14.4% net sales growth driven by Monster Energy Drinks segment
- • Gross profit margin improved to 54.2% from 51.8% due to pricing actions, lower freight-in costs, and reduced input costs
- • Energy drink case sales increased to 185.3 million from 166.2 million year-over-year
- • International sales grew 17.4% to $637 million
- • Lower effective tax rate of 18.5% versus 23.3% from increased stock option exercise tax benefits
- • Successful integration of Bang Energy acquisition
MNST YoY Financials
Q4 2023 vs Q4 2022, source: SEC Filings
MNST Revenue by Segment
With YoY comparisons, source: SEC Filings
MNST Revenue by Geography
With YoY comparisons, source: SEC Filings
“We continue to see sound growth in the energy drink market globally. We are pleased to report another quarter of solid revenue growth, with record sales for our fourth quarter and 2023 financial year. The quarter and the 2023 financial year were again impacted by unfavorable foreign currency exchange rates.”
— Hilton H. Schlosberg, Q4 2023 Earnings Press Release
MNST Earnings Trends
MNST vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
MNST EPS Trend
Earnings per share: estimate vs actual
MNST Revenue Trend
Quarterly revenue: estimate vs actual
MNST Quarterly Results
8 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $0.53 | $0.58 | +10.41% | $2.35B | +8.84% |
| Q4 25 BEAT | $0.48 | $0.51 | +5.88% | $2.13B | +4.24% |
| Q3 25 BEAT | $0.48 | $0.56 | +16.35% | $2.20B | +4.17% |
| Q2 25 BEAT | $0.48 | $0.52 | +8.27% | $2.11B | +1.34% |
| Q4 24 MISS FY | $0.40 | $0.38 | -4.86% | $1.81B | +0.88% |
| FY Full Year | — | $1.62 | — | $7.49B | — |
| Q4 23 MISS FY | $0.38 | $0.35 | -7.89% | $1.73B | +0.00% |
| FY Full Year | — | $1.54 | — | $7.14B | — |
| Q4 22 MISS FY | $0.63 | $0.57 | -9.52% | $1.51B | -5.32% |
| FY Full Year | — | $2.23 | — | $6.31B | — |
| Q1 22 MISS | $0.61 | $0.55 | -9.84% | $1.52B | +6.52% |