Monster Beverage Corp. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Monster Beverage Corp. has filed its 2023 10-K report, detailing financial performance and corporate actions.</b>

AI Summary

Monster Beverage Corp (MNST) filed a Annual Report (10-K) with the SEC on February 29, 2024. Monster Beverage Corp. filed its 10-K report for the fiscal year ending December 31, 2023. The company's principal executive offices are located at 1 Monster Way, Corona, CA 92879. The filing includes information on various financial statement line items and disclosures. Monster Beverage Corp. was formerly known as Hansen Natural Corp. and Unipac Corp. The report details repurchase plans for common stock initiated in June 2022 and November 2022.

Why It Matters

For investors and stakeholders tracking Monster Beverage Corp, this filing contains several important signals. This 10-K filing provides a comprehensive overview of Monster Beverage Corp.'s financial health, operational activities, and strategic initiatives for the fiscal year 2023. Investors and analysts can use this report to assess the company's performance, identify potential risks, and make informed investment decisions regarding Monster Beverage Corp. (MNST).

Risk Assessment

Risk Level: medium — Monster Beverage Corp shows moderate risk based on this filing. The filing is a standard 10-K, which is a comprehensive annual report. While it contains a wealth of information, it does not highlight any immediate, critical risks beyond those typically associated with a large, publicly traded company in the beverage sector.

Analyst Insight

Review the detailed financial statements and risk factors within the 10-K to understand Monster Beverage Corp.'s performance and outlook for the upcoming fiscal year.

Key Numbers

• 2023-12-31 — Fiscal Year End (Conformed period of report)
• 2024-02-29 — Filing Date (Filed as of date)
• 0000865752 — Central Index Key (Filer's identifier)
• 2086 — Standard Industrial Classification (Industry code for Bottled & Canned Soft Drinks Carbonated Waters)

Key Players & Entities

• Monster Beverage Corp. (company) — Filer
• Hansen Natural Corp (company) — Former company name
• Unipac Corp (company) — Former company name
• 1 MONSTER WAY, CORONA, CA 92879 (company) — Business address

FAQ

Industry Context

Monster Beverage Corp. operates in the non-alcoholic beverage industry, specifically focusing on energy drinks and other beverage categories.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring public companies to submit annual reports detailing their financial performance and business operations.

What Investors Should Do

1. Analyze the financial statements for revenue trends, profitability, and cash flow.
2. Review the business description and risk factors for insights into operational challenges and strategic direction.
3. Examine any disclosures related to executive compensation and stock repurchase programs.

Key Dates

• 2023-12-31: Fiscal Year End — The end of the reporting period for the 10-K.
• 2024-02-29: Filing Date — The date the 10-K report was officially filed with the SEC.

Year-Over-Year Comparison

This is the initial filing for the fiscal year ending December 31, 2023. Previous filings would provide comparative data.

Key Financial Figures

• $0.005 — ange on which registered Common Stock, $0.005 par value per share MNST Nasdaq Glo
• $73.4 b — e market are estimated at approximately $73.4 billion, representing an increase of appr
• $69.3 billion — holesale sales in 2022 of approximately $69.3 billion. 3 Table of Contents Reportable S

Filing Documents

• mnst-20231231x10k.htm (10-K) — 3977KB
• mnst-20231231xex21.htm (EX-21) — 35KB
• mnst-20231231xex23d1.htm (EX-23.1) — 2KB
• mnst-20231231xex23d2.htm (EX-23.2) — 10KB
• mnst-20231231xex31d1.htm (EX-31.1) — 17KB
• mnst-20231231xex31d2.htm (EX-31.2) — 17KB
• mnst-20231231xex31d3.htm (EX-31.3) — 17KB
• mnst-20231231xex32d1.htm (EX-32.1) — 8KB
• mnst-20231231xex32d2.htm (EX-32.2) — 7KB
• mnst-20231231xex32d3.htm (EX-32.3) — 6KB
• mnst-20231231xex97.htm (EX-97) — 47KB
• mnst-20231231x10k001.jpg (GRAPHIC) — 1KB
• mnst-20231231x10k003.jpg (GRAPHIC) — 60KB
• mnst-20231231x10k004.jpg (GRAPHIC) — 1KB
• mnst-20231231x10k005.jpg (GRAPHIC) — 1KB
• 0001104659-24-029425.txt (&nbsp;) — 17245KB
• mnst-20231231.xsd (EX-101.SCH) — 82KB
• mnst-20231231_cal.xml (EX-101.CAL) — 110KB
• mnst-20231231_def.xml (EX-101.DEF) — 379KB
• mnst-20231231_lab.xml (EX-101.LAB) — 849KB
• mnst-20231231_pre.xml (EX-101.PRE) — 636KB
• mnst-20231231x10k_htm.xml (XML) — 3888KB

Risk Factors

Risk Factors 21 1B. Unresolved Staff Comments 41 1C. Cybersecurity 41 2.

Properties

Properties 42 3.

Legal Proceedings

Legal Proceedings 42 4. Mine Safety Disclosures 42 PART II 5. Market for the Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 43 6. [Reserved] 44 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 45 7A.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 67 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 68 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 68 9A.

Controls and Procedures

Controls and Procedures 68 9B. Other Information 70 9C . Disclosures Regarding Foreign Jurisdictions that Prevent Inspections 70 PART III 10. Directors, Executive Officers and Corporate Governance 71 11.

Executive Compensation

Executive Compensation 71 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 71 13. Certain Relationships and Related Transactions, and Director Independence 72 14. Principal Accounting Fees and Services 72 PART IV 15. Exhibits and Financial Statement Schedules 73 16. Form 10-K Summary 73

Signatures

Signatures 76 2 Table of Contents PART I

BUSINESS

ITEM 1. BUSINESS When this report uses the words "the Company", "we", "us" and "our", these words refer to Monster Beverage Corporation and its subsidiaries, unless the context otherwise requires. Based in Corona, California, Monster Beverage Corporation is a holding company and conducts no operating business, except through its consolidated subsidiaries. The Company's subsidiaries primarily develop and market energy drinks.The Company's subsidiary, CANarchy Craft Brewery Collective LLC ("CANarchy"), was renamed Monster Brewing Company effective January 2024. Overview We develop, market, sell and distribute energy drink beverages and concentrates for energy drink beverages, primarily under the following brand names: Monster Energy Monster Energy Ultra Monster Rehab Monster EnergyNitro Java Monster Punch Monster Juice Monster Reign Total Body Fuel Reign Inferno Thermogenic Fuel Reign Storm Bang Energy NOS Full Throttle Burn Mother Nalu Ultra Energy Play and Power Play (stylized) Relentless BPM BU Gladiator Samurai Live+ Predator Fury We also develop, market, sell and distribute still and sparkling waters under the Monster Tour Water brand name. We also develop, market, sell and distribute craft beers, hard seltzers and flavored malt beverages ("FMBs") under a number of brands, including Jai Alai IPA, Florida Man TM IPA, Dale's Pale Ale, Wild Basin Hard Seltzers, Dallas Blonde, Deep Ellum TM IPA, Perrin Brewing Company TM Black Ale, Hop Rising Double IPA, Wasatch Apricot Hefeweizen, The Beast Unleashed, Nasty Beast TM Hard Tea and a host of other brands. Industry Overview The "alternative" beverage category combines non-carbonated, ready-to-drink iced teas, lemonades, juice cocktails, single-serve juices and fruit beverages, ready-to-drink dairy and coffee drinks, energy drinks, sports drinks and single-serve still waters (flavored, unflavored and enhanced) with "new age" beverages, including sodas that are

View Full Filing

View this 10-K filing on SEC EDGAR