Monster Beverage Corp. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Monster Beverage Corp. files Q1 2024 10-Q, detailing financial positions and subsequent events including stock repurchases.</b>

AI Summary

Monster Beverage Corp (MNST) filed a Quarterly Report (10-Q) with the SEC on May 7, 2024. Monster Beverage Corp. filed its 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of 2024. Key financial statement components like Retained Earnings, Additional Paid-In Capital, and Accumulated Other Comprehensive Income are detailed as of March 31, 2024. Information regarding Treasury Stock and Common Stock is provided for various periods, including Q1 2024 and Q1 2023. Subsequent events, including repurchase plans from November 2023 and November 2022, and a Dutch Auction Tender Offer on May 1, 2024, are noted.

Why It Matters

For investors and stakeholders tracking Monster Beverage Corp, this filing contains several important signals. This 10-Q filing provides investors with the latest financial snapshot of Monster Beverage Corp. for the first quarter of 2024, crucial for understanding the company's performance and financial health. The disclosure of subsequent events, such as stock repurchase plans and a tender offer, offers insight into management's capital allocation strategies and potential impact on shareholder value.

Risk Assessment

Risk Level: low — Monster Beverage Corp shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate red flags, indicating a routine disclosure process.

Analyst Insight

Monitor future filings for detailed financial results and updates on the impact of the disclosed repurchase plans and tender offer.

Key Numbers

• 2024-03-31 — Period End Date (Conformed period of report.)
• 2024-05-07 — Filing Date (Date the 10-Q was filed.)
• 2024-01-01 — Q1 2024 Start Date (Beginning of the first quarter of 2024.)
• 2023-01-01 — Q1 2023 Start Date (Beginning of the first quarter of 2023.)
• 2024-05-01 — Dutch Auction Tender Offer Date (Date of a subsequent event.)
• 2023-11-07 — November 2023 Repurchase Plan Start Date (Date associated with a repurchase plan.)
• 2022-11-02 — November 2022 Repurchase Plan Start Date (Date associated with a repurchase plan.)

Key Players & Entities

• Monster Beverage Corp. (company) — Filer of the 10-Q report.
• 2024-03-31 (date) — Conformed period of report.
• 2024-05-07 (date) — Filed as of date.
• 0000865752 (company) — Central Index Key for Monster Beverage Corp.
• HANSEN NATURAL CORP (company) — Former company name.
• UNIPAC CORP (company) — Former company name.
• 2024-01-01 (date) — Start date for Q1 2024 reporting period.
• 2023-01-01 (date) — Start date for Q1 2023 reporting period.

FAQ

Key Dates

• 2024-03-31: Quarter End — End of the reporting period for the 10-Q.
• 2024-05-07: Filing Date — Date the 10-Q was officially submitted to the SEC.

Key Financial Figures

• $0.005 — 8,228 shares of common stock, par value $0.005 per share, outstanding as of April 26,

Filing Documents

• mnst-20240331x10q.htm (10-Q) — 2484KB
• mnst-20240331xex31d1.htm (EX-31.1) — 14KB
• mnst-20240331xex31d2.htm (EX-31.2) — 13KB
• mnst-20240331xex31d3.htm (EX-31.3) — 13KB
• mnst-20240331xex32d1.htm (EX-32.1) — 6KB
• mnst-20240331xex32d2.htm (EX-32.2) — 6KB
• mnst-20240331xex32d3.htm (EX-32.3) — 5KB
• 0001410578-24-000605.txt (&nbsp;) — 11647KB
• mnst-20240331.xsd (EX-101.SCH) — 59KB
• mnst-20240331_cal.xml (EX-101.CAL) — 68KB
• mnst-20240331_def.xml (EX-101.DEF) — 274KB
• mnst-20240331_lab.xml (EX-101.LAB) — 609KB
• mnst-20240331_pre.xml (EX-101.PRE) — 452KB
• mnst-20240331x10q_htm.xml (XML) — 2724KB

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 29 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 44 Item 4.

Controls and Procedures

Controls and Procedures 44 Part II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 45 Item 1A.

Risk Factors

Risk Factors 45 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 45 Item 3. Defaults Upon Senior Securities 46 Item 4. Mine Safety Disclosures 46 Item 5. Other Information 46 Item 6. Exhibits 46

Signatures

Signatures 47 2 Table of Contents

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

ITEM 1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) MONSTER BEVERAGE CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS AS OF MARCH 31, 2024 AND DECEMBER 31, 2023 (In Thousands, Except Par Value) (Unaudited) March 31, December 31, 2024 2023 ASSETS CURRENT ASSETS: Cash and cash equivalents $ 2,576,524 $ 2,297,675 Short-term investments 984,201 955,605 Accounts receivable, net 1,370,239 1,193,964 Inventories 939,630 971,406 Prepaid expenses and other current assets 124,580 116,195 Prepaid income taxes 40,340 54,151 Total current assets 6,035,514 5,588,996 INVESTMENTS 8,162 76,431 PROPERTY AND EQUIPMENT, net 923,290 890,796 DEFERRED INCOME TAXES, net 175,271 175,003 GOODWILL 1,417,941 1,417,941 OTHER INTANGIBLE ASSETS, net 1,430,762 1,427,139 OTHER ASSETS 107,126 110,216 Total Assets $ 10,098,066 $ 9,686,522 LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES: Accounts payable $ 533,729 $ 564,379 Accrued liabilities 204,679 183,988 Accrued promotional allowances 318,895 269,061 Deferred revenue 43,776 41,914 Accrued compensation 52,638 87,392 Income taxes payable 75,111 14,955 Total current liabilities 1,228,828 1,161,689 DEFERRED REVENUE 198,759 204,251 OTHER LIABILITIES 92,690 91,838 COMMITMENTS AND CONTINGENCIES (Note 11) STOCKHOLDERS' EQUITY: Common stock - $ 0.005 par value; 5,000,000 shares authorized; 1,124,870 shares issued and 1,041,698 shares outstanding as of March 31, 2024; 1,122,592 shares issued and 1,041,571 shares outstanding as of December 31, 2023 5,624 5,613 Additional paid-in capital 5,034,948 4,975,115 Retained earnings 6,381,785 5,939,736 Accumulated other comprehensive loss ( 157,940 ) ( 125,337 ) Common stock in treasury, at cost; 83,172 shares and 81,021 shares as of March 31, 2024 and December 31, 2023, respectively ( 2,686,628 ) ( 2,566,383 ) T

View Full Filing

View this 10-Q filing on SEC EDGAR