Net changes in foreign currency exchange rates had a favorable impact on net sales for the 2021 first quarter of $9.3 million. Net sales for the 2021 first quarter increased 17.1 percent to $1.24 billion, from $1.06 billion in the same period last year. Based on currently available information, the Company does not expect the COVID-19 pandemic to have a material impact on its liquidity. Logistical issues in relation to the importation of certain other raw materials and ingredients could impact future supply.Īs of March 31, 2021, the Company had $1.18 billion in cash and cash equivalents, $980.1 million in short-term investments and $63.8 million in long-term investments. The Company has taken steps to source additional quantities of aluminum cans from South America and Asia, however, logistical issues, including ocean freight and port of entry congestion could delay such supply. However, the Company is experiencing shortages in its aluminum can requirements in North America and Europe, given the Company’s volume growth and the current supply constraints in the aluminum can industry. The Company’s supply chain remains largely intact. Currently, the Company does not foresee a material impact on the ability of its co-packers to manufacture and its bottlers/distributors to distribute its products as a result of the COVID-19 pandemic. In limited countries, the operations of the Company’s bottlers/distributors have, in part, been negatively affected for varying periods of time.ĭespite the ongoing impact of the COVID-19 pandemic, the Company achieved record first quarter net sales.
The Company’s bottlers/distributors are operating and the Company’s products remain generally available to consumers. The Company’s flavor manufacturing facilities, its co-packers, warehouses and shipment facilities, have operated throughout the COVID-19 pandemic.
The Company’s top priority remains the health, safety and well-being of its employees. First Quarter Net Income per Diluted Share Increases 14.2 percent to $0.59 per share -ĬORONA, Calif., (GLOBE NEWSWIRE) - Monster Beverage Corporation (NASDAQ: MNST) today reported financial results for the three-months ended March 31, 2021. First Quarter Net Income Increases 13.0 percent to $315.2 Million. Record First Quarter Net Sales Rise 17.1 Percent to $1.24 Billion.
Monster Beverage Reports 2021 First Quarter Financial Results
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