According to Nielsen, sales for the energy drinks category, including energy shots, increased 12.7% year over year for the 13 weeks ended Apr 22, 2023.
On a currency-adjusted basis, net sales for the segment rose 14.6%. In first-quarter 2023, the Monster Energy Drinks segment's net sales increased 11.2% year over year. It is on track with price increases to wean the ongoing cost pressures. Monster Beverage’s continued momentum in the energy drinks category remains a key growth driver.
MONSTER ENERGY DRINK PRICE DRIVERS
Image Source: Zacks Investment Research Growth Drivers The Zacks Consensus Estimate for Monster Beverage’s 2023 sales and earnings suggests growth of 12.5% and 38.4%, respectively, from the year-ago period’s reported numbers. Notably, the S&P 500 has grown 3.3% in the same period. The stock also compared favorably against the sector’s decline of 2.5%. It continued to implement price hikes with additional price hikes planned in a number of other markets throughout the remainder of the year.īacked by these trends, Monster Beverage’s top and bottom lines beat the Zacks Consensus Estimate and grew year over year in first-quarter 2023.Ĭonsequently, shares of this Zacks Rank #1 (Strong Buy) company have rallied 30.5% in a year, outpacing the industry’s growth of 9.5%. In first-quarter 2023, the company launched many products and expanded distribution in the international markets. The company continues to gain from pricing efforts, which have been boosting the top line. Monster Beverage Corporation ( MNST Quick Quote MNST - Free Report) has been witnessing momentum due to robust demand for its energy drinks category and a steady line-up of product launches.
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