$MNST
Monster Beverage Corp

2024 Q2 Form 10-Q Financial Statement

#000141057824000605 Filed on May 07, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $1.901B $1.899B
YoY Change 2.46% 11.78%
Cost Of Revenue $881.1M $872.0M
YoY Change 0.04% 8.85%
Gross Profit $1.020B $1.027B
YoY Change 4.65% 14.4%
Gross Profit Margin 53.64% 54.09%
Selling, General & Admin $108.3M $125.3M
YoY Change -3.16% 18.13%
% of Gross Profit 10.62% 12.2%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $19.44M $20.48M
YoY Change 24.6% 21.82%
% of Gross Profit 1.91% 1.99%
Operating Expenses $492.3M $485.1M
YoY Change 9.31% 17.53%
Operating Profit $527.2M $542.0M
YoY Change 0.64% 11.74%
Interest Expense $24.38M $35.75M
YoY Change 60.8% 186.12%
% of Operating Profit 4.62% 6.6%
Other Income/Expense, Net $24.38M $35.75M
YoY Change 60.8% 186.12%
Pretax Income $551.5M $577.7M
YoY Change 2.33% 16.12%
Income Tax $126.2M $135.7M
% Of Pretax Income 22.88% 23.49%
Net Earnings $425.4M $442.0M
YoY Change 2.78% 11.22%
Net Earnings / Revenue 22.38% 23.28%
Basic Earnings Per Share
Diluted Earnings Per Share $0.41 $0.42
COMMON SHARES
Basic Shares Outstanding 1.042B 1.041B
Diluted Shares Outstanding 1.037B 1.051B

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.565B $3.561B
YoY Change -52.4% 16.53%
Cash & Equivalents $1.565B $2.577B
Short-Term Investments $0.00 $984.2M
Other Short-Term Assets $192.8M $164.9M
YoY Change 2.92% 16.27%
Inventory $834.4M $939.6M
Prepaid Expenses
Receivables $1.362B $1.370B
Other Receivables $0.00 $0.00
Total Short-Term Assets $3.954B $6.036B
YoY Change -30.06% 13.99%
LONG-TERM ASSETS
Property, Plant & Equipment $961.0M $923.3M
YoY Change 66.65% 69.12%
Goodwill $1.418B $1.418B
YoY Change 0.0% 0.0%
Intangibles $1.433B $1.431B
YoY Change 17.09% 17.03%
Long-Term Investments $0.00 $8.162M
YoY Change -100.0% -80.17%
Other Assets $107.1M $282.4M
YoY Change -29.19% 94.62%
Total Long-Term Assets $4.107B $4.063B
YoY Change 13.78% 14.45%
TOTAL ASSETS
Total Short-Term Assets $3.954B $6.036B
Total Long-Term Assets $4.107B $4.063B
Total Assets $8.061B $10.10B
YoY Change -12.98% 14.18%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $511.1M $533.7M
YoY Change -10.11% 8.65%
Accrued Expenses $213.9M $576.2M
YoY Change 7.68% 134.3%
Deferred Revenue $44.38M $43.78M
YoY Change 3.77% -1.49%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $2.167M $4.297M
YoY Change -48.4% 79.57%
Total Short-Term Liabilities $1.161B $1.229B
YoY Change -0.18% 3.48%
LONG-TERM LIABILITIES
Long-Term Debt $748.7M $14.00K
YoY Change -57.58%
Other Long-Term Liabilities $64.07M $291.4M
YoY Change 44.77% 598.47%
Total Long-Term Liabilities $812.8M $291.4M
YoY Change 1736.65% 598.47%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.161B $1.229B
Total Long-Term Liabilities $812.8M $291.4M
Total Liabilities $1.973B $1.520B
YoY Change 63.51% 23.68%
SHAREHOLDERS EQUITY
Retained Earnings $6.807B $6.382B
YoY Change 32.95% 35.6%
Common Stock $5.068B $5.035B
YoY Change 4.08% 4.26%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $5.866B $8.578B
YoY Change
Total Liabilities & Shareholders Equity $8.061B $10.10B
YoY Change -12.98% 14.18%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income $425.4M $442.0M
YoY Change 2.78% 11.22%
Depreciation, Depletion And Amortization $19.44M $20.48M
YoY Change 24.6% 21.82%
Cash From Operating Activities $436.3M $412.1M
YoY Change 28.81% -2.91%
INVESTING ACTIVITIES
Capital Expenditures $59.77M $66.04M
YoY Change 41.3% 64.7%
Acquisitions
YoY Change
Other Investing Activities $998.4M $985.0K
YoY Change -1682.24% -92.44%
Cash From Investing Activities $938.6M -$35.32M
YoY Change -990.54% -33.06%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -2.356B -84.75M
YoY Change 7307.94% 1301.04%
NET CHANGE
Cash From Operating Activities 436.3M 412.1M
Cash From Investing Activities 938.6M -35.32M
Cash From Financing Activities -2.356B -84.75M
Net Change In Cash -980.8M 278.8M
YoY Change -586.75% -23.71%
FREE CASH FLOW
Cash From Operating Activities $436.3M $412.1M
Capital Expenditures $59.77M $66.04M
Free Cash Flow $376.5M $346.1M
YoY Change 27.03% -9.96%

Facts In Submission

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CY2024Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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CY2024Q1 us-gaap Increase Decrease In Prepaid Taxes
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CY2024Q1 mnst Increase Decrease In Customer Liability
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CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
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CY2023Q1 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
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CY2024Q1 us-gaap Payments To Acquire Available For Sale Securities Debt
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CY2023Q1 us-gaap Payments To Acquire Property Plant And Equipment
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CY2023Q1 mnst Payments To Proceeds From Intangibles Assets
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CY2023Q1 us-gaap Payments For Proceeds From Other Investing Activities
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CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
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CY2023Q1 us-gaap Proceeds From Repayments Of Short Term Debt
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CY2023Q1 us-gaap Proceeds From Issuance Of Common Stock
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CY2024Q1 us-gaap Payments For Repurchase Of Common Stock
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CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
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CY2023Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2023Q1 us-gaap Income Taxes Paid
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CY2023Q1 mnst Net Change In Accrued Liabilities Incurred But Not Yet Paid
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CY2024Q1 mnst Accounts Payable For Purchases Of Equipment
AccountsPayableForPurchasesOfEquipment
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CY2023Q1 mnst Accounts Payable For Purchases Of Equipment
AccountsPayableForPurchasesOfEquipment
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CY2024Q1 mnst Accrued Assets For Purchases Of Available For Sale Short Term Investments
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CY2024Q1 mnst Accrued Liabilities Related To Common Stock Purchased From Employees
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CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2023Q4 us-gaap Contract With Customer Liability
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CY2024Q1 us-gaap Contract With Customer Liability Revenue Recognized
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CY2024Q1 us-gaap Lessee Finance Lease Existence Of Option To Extend
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CY2024Q1 us-gaap Lessee Operating Lease Existence Of Option To Terminate
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CY2024Q1 us-gaap Lessee Finance Lease Existence Of Option To Terminate
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CY2024Q1 us-gaap Operating Lease Cost
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CY2023Q1 us-gaap Operating Lease Cost
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CY2023Q1 us-gaap Short Term Lease Cost
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CY2024Q1 us-gaap Variable Lease Cost
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CY2023Q1 us-gaap Variable Lease Cost
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CY2024Q1 us-gaap Finance Lease Right Of Use Asset Amortization
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CY2023Q1 us-gaap Finance Lease Right Of Use Asset Amortization
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CY2024Q1 us-gaap Finance Lease Interest Expense
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CY2023Q1 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
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CY2024Q1 mnst Finance Lease Cost
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CY2023Q1 mnst Finance Lease Cost
FinanceLeaseCost
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CY2024Q1 us-gaap Lease Cost
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CY2023Q1 us-gaap Lease Cost
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CY2023Q1 us-gaap Operating Lease Payments
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CY2024Q1 us-gaap Finance Lease Interest Payment On Liability
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CY2023Q1 us-gaap Finance Lease Interest Payment On Liability
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CY2023Q1 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
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CY2024Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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CY2023Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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CY2024Q1 us-gaap Operating Lease Right Of Use Asset
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CY2023Q4 us-gaap Operating Lease Right Of Use Asset
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CY2023Q4 us-gaap Operating Lease Liability Noncurrent
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CY2024Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
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CY2023Q4 us-gaap Operating Lease Liability
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CY2024Q1 us-gaap Finance Lease Right Of Use Asset
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CY2023Q4 us-gaap Finance Lease Right Of Use Asset
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CY2023Q4 us-gaap Finance Lease Liability Current
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CY2024Q1 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
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CY2023Q4 us-gaap Finance Lease Liability Noncurrent
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CY2024Q1 us-gaap Finance Lease Liability
FinanceLeaseLiability
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CY2023Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
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CY2024Q1 us-gaap Finance Lease Weighted Average Remaining Lease Term1
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CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
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CY2024Q1 us-gaap Finance Lease Weighted Average Discount Rate Percent
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CY2023Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
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CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
10213000
CY2024Q1 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
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CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
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CY2024Q1 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
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CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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CY2024Q1 us-gaap Finance Lease Liability Payments Due Year Two
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CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
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CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
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CY2024Q1 us-gaap Finance Lease Liability Payments Due Year Four
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CY2024Q1 mnst Lessee Operating Lease Liability To Be Paid After Year Five And Thereafter
LesseeOperatingLeaseLiabilityToBePaidAfterYearFiveAndThereafter
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CY2024Q1 mnst Finance Lease Liability Payments Due In Rolling After Year Five And Thereafter
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CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due
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CY2024Q1 us-gaap Finance Lease Liability Payments Due
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CY2024Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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CY2024Q1 us-gaap Finance Lease Liability Undiscounted Excess Amount
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CY2024Q1 us-gaap Operating Lease Liability
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CY2024Q1 us-gaap Finance Lease Liability
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CY2024Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
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CY2023Q4 us-gaap Available For Sale Securities Debt Securities
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CY2023Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
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CY2023Q4 us-gaap Investments Fair Value Disclosure
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CY2023Q4 us-gaap Property Plant And Equipment Net
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CY2023Q1 us-gaap Other Depreciation And Amortization
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CY2023Q4 us-gaap Inventory Raw Materials Net Of Reserves
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CY2023Q4 us-gaap Inventory Finished Goods Net Of Reserves
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CY2024Q1 us-gaap Inventory Net
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CY2024Q1 us-gaap Goodwill
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CY2022Q4 us-gaap Goodwill
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CY2023Q1 us-gaap Goodwill Acquired During Period
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CY2023Q1 us-gaap Goodwill
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CY2023Q1 us-gaap Amortization Of Intangible Assets
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CY2024Q1 mnst Deferred Revenue Distribution Agreement
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451100000
CY2024Q1 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
300000
CY2023Q4 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
300000
CY2023Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-125337000
CY2024Q1 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
32603000
CY2024Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
32603000
CY2024Q1 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-157940000
CY2022Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-159073000
CY2023Q1 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
-11162000
CY2023Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-11162000
CY2023Q1 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-147911000
CY2024Q1 mnst Number Of Shares Repurchased Of Common Stock For Employee Tax Withholding Obligations
NumberOfSharesRepurchasedOfCommonStockForEmployeeTaxWithholdingObligations
400000
CY2024Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
23000000.0
CY2024Q1 mnst Number Of Stock Based Compensation Plans
NumberOfStockBasedCompensationPlans
2
CY2024Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
22500000
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
16100000
CY2024Q1 us-gaap Employee Service Share Based Compensation Tax Benefit From Exercise Of Stock Options
EmployeeServiceShareBasedCompensationTaxBenefitFromExerciseOfStockOptions
7500000
CY2023Q1 us-gaap Employee Service Share Based Compensation Tax Benefit From Exercise Of Stock Options
EmployeeServiceShareBasedCompensationTaxBenefitFromExerciseOfStockOptions
25900000
CY2023Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
3109000
CY2024Q1 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
2900000
CY2024Q1 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
0
CY2024Q1 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
0
CY2024Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
6009000
CY2024Q1 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
700000
CY2024Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1041081000
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1044909000
CY2024Q1 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
10201000
CY2023Q1 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
14160000
CY2024Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1051282000
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1059069000
CY2024Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5000000.0
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2600000
CY2024Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
4
CY2024Q1 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
4
CY2024Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1899098000
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1698930000
CY2024Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
541991000
CY2023Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
485064000
CY2024Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
577745000
CY2023Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
497560000
CY2024Q1 mnst Depreciation Depletion And Amortization Excluding Right Of Use Assets
DepreciationDepletionAndAmortizationExcludingRightOfUseAssets
20475000
CY2023Q1 mnst Depreciation Depletion And Amortization Excluding Right Of Use Assets
DepreciationDepletionAndAmortizationExcludingRightOfUseAssets
16808000
CY2024Q1 mnst Goodwill And Other Intangible Assets
GoodwillAndOtherIntangibleAssets
2848703000
CY2023Q4 mnst Goodwill And Other Intangible Assets
GoodwillAndOtherIntangibleAssets
2845080000
CY2024Q1 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q1 mnst Rule10b51 Arr Modified Flag
Rule10b51ArrModifiedFlag
false
CY2024Q1 mnst Non Rule10b51 Arr Modified Flag
NonRule10b51ArrModifiedFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q1 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

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mnst-20240331_lab.xml Edgar Link unprocessable