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Beast Drink misses out on quarterly results on weaker need

Monster Beverage missed out on Wall Street estimates for thirdquarter sales and earnings on Thursday, as costconscious customers cut down investing in its higherpriced drinks.

Shares of the business were down about 3% after the bell.

Consumers, especially from low to middle-income groups, have been suppressing their yearnings for branded non-alcoholic beverages and choosing less expensive options.

This has actually injured sales of business like Monster Beverage, Keurig Dr Pepper and PepsiCo, while Coca-Cola had the ability to draw in customers with tight budgets in the United States.

For the third-quarter, the company published net sales of $1.88. billion, compared with analysts' average quote of $1.91. billion, according to information compiled by LSEG.

On an adjusted basis, it published revenue of 40 cents per. share, compared to price quotes of 43 cents per share.

Hurricanes Helene and Milton impacted sales at retail in. particular states in September and October, nevertheless we can not. determine the impact on our business, said CEO Hilton. Schlosberg.

Nevertheless, gain from taking 5% cost walkings during the. quarter ended Sept. 30, coupled with lower input expenses assisted. the company's margins.

Monster's quarterly gross profit as a percentage of sales. was 53.2%, compared to 53.0% a year back.

(source: Reuters)