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    Monster Beverage Corp (MNST)

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    Monster Beverage Corporation, headquartered in Corona, California, is a holding company that develops, markets, sells, and distributes a variety of beverages through its subsidiaries . The company's product offerings include energy drinks, craft beers, hard seltzers, flavored malt beverages (FMBs), and still and sparkling waters . Its energy drink portfolio features well-known brands such as Monster Energy®, Monster Energy Ultra®, Java Monster®, Reign Total Body Fuel®, Bang Energy®, and NOS® . The company operates through four main segments: Monster Energy® Drinks, Strategic Brands, Alcohol Brands, and Other .

    1. Monster Energy® Drinks - Develops and markets energy drinks, including Monster Energy® and Reign Total Body Fuel®, which are the primary drivers of the company's revenue .
    2. Strategic Brands - Includes brands acquired from The Coca-Cola Company and affordable energy brands like Predator® and Fury®, contributing to the company's diverse energy drink portfolio .
    3. Alcohol Brands - Offers craft beers and flavored malt beverages (FMBs), expanding the company's presence in the alcoholic beverage market .
    4. Other - Involves products sold by American Fruits and Flavors LLC to third-party customers, adding to the company's product diversity .
    Revenue by Segment - in Millions of USDFY 2013Q1 2014Q2 2014Q3 2014Q4 2014FY 2014Q1 2015Q2 2015Q3 2015Q4 2015FY 2015Q1 2016Q2 2016Q3 2016Q4 2016FY 2016Q1 2017Q2 2017Q3 2017Q4 2017FY 2017Q1 2018Q2 2018Q3 2018Q4 2018FY 2018Q1 2019Q2 2019Q3 2019Q4 2019FY 2019Q1 2020Q2 2020Q3 2020Q4 2020FY 2020Q1 2021Q2 2021Q3 2021Q4 2021FY 2021Q1 2022Q2 2022Q3 2022Q4 2022FY 2022Q1 2023Q2 2023Q3 2023Q4 2023FY 2023Q1 2024Q2 2024Q3 2024Q4 2024FY 2024
    Monster Energy Drinks1,708.21,598.36,555.11,729.11,742.81,722.71,676,864.6
    Strategic Brands98.891.7376.6108.4109.2112.6102432.2
    Alcohol Brands42.335.2184.956.141.639.834.8172.3
    Other6.74.923.55.57.05.95.223.6
    Finished Products--------
    Concentrate--------
    DSD Segment--------
    Warehouse Segment--------
    Energy Drinks--------
    Non-carbonated--------
    Carbonated--------
    Total Revenue1,856.01,730.17,140.01,899.11,900.61,881.01,8127,492.7
    Revenue by Geography - in Millions of USDFY 2013Q1 2014Q2 2014Q3 2014Q4 2014FY 2014Q1 2015Q2 2015Q3 2015Q4 2015FY 2015Q1 2016Q2 2016Q3 2016Q4 2016FY 2016Q1 2017Q2 2017Q3 2017Q4 2017FY 2017Q1 2018Q2 2018Q3 2018Q4 2018FY 2018Q1 2019Q2 2019Q3 2019Q4 2019FY 2019Q1 2020Q2 2020Q3 2020Q4 2020FY 2020Q1 2021Q2 2021Q3 2021Q4 2021FY 2021Q1 2022Q2 2022Q3 2022Q4 2022FY 2022Q1 2023Q2 2023Q3 2023Q4 2023FY 2023Q1 2024Q2 2024Q3 2024Q4 2024FY 2024
    U.S. and Canada1,168.9641,141.344,610.11,206.11,198.2091,172.1611,145.384,721.853
    EMEA391.883309.121,390.7395.6393.923417.588356.251,563.366
    Asia Pacific127.267109.83514.4131.2145.088132.046132.7541.036
    Latin America and Caribbean167.914169.79624.9166.2163.377159.178177.7666.454
    - Net Sales Outside U.S.--------
    - Gross Sales Outside U.S.--------
    Total Revenue1,856.0281,730.077,140.01,899.11,900.5971,880.9731,812.047,492.709
    KPIs - Metric (Unit, Scale)FY 2013Q1 2014Q2 2014Q3 2014Q4 2014FY 2014Q1 2015Q2 2015Q3 2015Q4 2015FY 2015Q1 2016Q2 2016Q3 2016Q4 2016FY 2016Q1 2017Q2 2017Q3 2017Q4 2017FY 2017Q1 2018Q2 2018Q3 2018Q4 2018FY 2018Q1 2019Q2 2019Q3 2019Q4 2019FY 2019Q1 2020Q2 2020Q3 2020Q4 2020FY 2020Q1 2021Q2 2021Q3 2021Q4 2021FY 2021Q1 2022Q2 2022Q3 2022Q4 2022FY 2022Q1 2023Q2 2023Q3 2023Q4 2023FY 2023Q1 2024Q2 2024Q3 2024Q4 2024FY 2024
    Case Sales for Monster Energy® Drinks (thousands of 192-ounce case equivalents)165,504-632,950166,639168,745172,587--
    Case Sales for Strategic Brands (thousands of 192-ounce case equivalents)37,584-136,29144,79143,44946,822--
    Total Energy Drink Case Sales (thousands of 192-ounce case equivalents)203,088-769,241211,430212,194219,409--
    Average Net Sales per Case for Energy Drinks (USD)8.90-9.018.698.738.36--
    Case Sales for Alcohol Brands (thousands of 192-ounce case equivalents)3,034-13,1314,0993,0232,845--
    Average Net Sales per Case for Alcohol Brands (USD)13.95-14.0813.6813.7513.98--
    NamePositionExternal RolesShort Bio

    Hilton H. Schlosberg

    ExecutiveBoard

    Vice Chairman of the Board of Directors, Co-CEO

    None

    Hilton H. Schlosberg has been with MNST since at least November 7, 2024, serving as Vice Chairman and Co-CEO. Further details about his start date and achievements are not provided.

    Rodney C. Sacks

    ExecutiveBoard

    Chairman of the Board of Directors, Co-CEO

    None

    Rodney C. Sacks has been instrumental in the development and implementation of Monster Beverage's business strategy. He has been a director since November 1990 and Co-CEO since January 2021.

    Emelie C. Tirre

    Executive

    President of the Americas

    None

    Emelie C. Tirre has been President of the Americas since July 2018, with over 32 years in the beverage industry, joining MNST in July 2010.

    Guy P. Carling

    Executive

    President of EMEA

    None

    Guy P. Carling has been with MNST since December 2007 and President of EMEA since July 2018, overseeing sales and expansion in the EMEA region.

    Thomas J. Kelly

    Executive

    Chief Financial Officer

    None

    Thomas J. Kelly has been the CFO since January 2021, previously serving as EVP, Finance, and Controller and Secretary of MEC from 1992 to January 2021.

    Ana Demel

    Board

    Director

    Chair of Pro Mujer, Inc.; Adjunct Professor at NYU School of Law

    Ana Demel has been a director since December 2021, with a background in international law and business transactions.

    Gary P. Fayard

    Board

    Director

    Board of Genuine Parts Company

    Gary P. Fayard has been a director since June 2015, with a strong background in accounting and finance.

    James L. Dinkins

    Board

    Director

    CEO of Honey Baked Ham Company, LLC; Trustee of University of Georgia Foundation and Morehouse College

    James L. Dinkins has been a director since November 2020, bringing substantial business and leadership experience in the beverage industry.

    Jeanne P. Jackson

    Board

    Director

    Executive Chair of Spanx HoldCo LLC; Director of Delta Air Lines, Inc. and Moncler S.p.A.

    Jeanne P. Jackson has been a director since June 2019, with over 30 years of experience as a senior executive and director in large public companies.

    Mark S. Vidergauz

    Board

    Director

    CEO of The Sage Group LLC

    Mark S. Vidergauz has been a director since June 1998, serving on various committees and as Lead Independent Director since March 2014. He is also CEO of The Sage Group LLC.

    Steven G. Pizula

    Board

    Director

    Board Member of The Whittier Trust Company, Arnold and Mabel Beckman Foundation, Forum for Corporate Directors

    Steven G. Pizula has been a director since June 2019, serving as Chairman of the Audit Committee since January 2021.

    Tiffany M. Hall

    Board

    Director

    CEO of Empower Cocktails; Director of Children's Museum of Manhattan; Co-Chair of National Democratic Institute's NY Advisory Council

    Tiffany M. Hall has been a director since October 2021, with experience in legal, marketing, and entrepreneurship.

    1. Given the significant increase in aluminum costs and the possibility of higher tariffs, how do you plan to mitigate these pressures on gross margins, and can you elaborate on the effectiveness of your current hedging strategies?

    2. With the recent implementation of price increases in the United States and internationally, have you observed any changes in consumer behavior or demand elasticity that could impact your sales volumes or market share?

    3. Could you provide more details on the $16.7 million provision related to the intellectual property claim involving the Hubert Hansen name, including any potential ongoing financial impacts or steps being taken to resolve the issue?

    4. In light of the $10.6 million in inventory reserves due to excess inventory levels in the alcohol brands segment, what specific measures are you implementing to improve inventory management and prevent similar write-downs in the future?

    5. Despite sequential improvements, gross margins in the EMEA region remain below 2021 levels; what targeted initiatives are in place to restore margins to historical levels, and what is your expected timeline for achieving this?

    Program DetailsProgram 1Program 2Program 3
    Approval DateNovember 2, 2022 November 7, 2023 August 19, 2024
    End Date/DurationExhausted by September 30, 2024 Exhausted by September 30, 2024 Not specified, no shares repurchased as of November 6, 2024
    Total Additional Amount$500.0 million $500.0 million $500.0 million
    Remaining Authorization$0.0 million $0.0 million $500.0 million
    DetailsExhausted Exhausted No shares repurchased
    YearAmount Due (Millions)Debt TypeInterest Rate (%)% of Total Debt
    2027$750.0Term Loan6.09100.0% = (750 / 750) * 100
    2029$0.0Revolving Credit LineN/A0.0% = (0 / 750) * 100

    Competitors mentioned in the company's latest 10K filing.

    CompanyDescription

    The company competes with products of much larger and in some cases better-financed competitors, including those of this internationally known producer.

    The company competes with products of this internationally known producer, which has also entered into a long-term distribution arrangement with Celsius Holdings, Inc.

    The company competes with products of this internationally known producer.

    Red Bull GmbH

    The company competes directly with this internationally known producer in the energy drink category, both domestically and internationally.

    This competitor has entered into a long-term strategic distribution arrangement with PepsiCo, which impacts competition in the energy drink space.

    The company competes with this producer in the alcohol beverage industry, including the FMB, hard seltzer, and craft beer categories.

    The company competes with this producer in the alcohol beverage industry, including the FMB, hard seltzer, and craft beer categories.

    The company competes with this producer in the alcohol beverage industry, including the FMB, hard seltzer, and craft beer categories.

    The company competes with this producer in the alcohol beverage industry, including the FMB, hard seltzer, and craft beer categories.

    The Mark Anthony Group

    The company competes with this producer in the alcohol beverage industry, including the FMB, hard seltzer, and craft beer categories.

    Rockstar

    The company competes directly with this brand in the energy drink category, both domestically and internationally.

    MTN Dew Amp and MTN Dew Energy

    The company competes directly with these brands in the energy drink category domestically.

    G Fuel

    The company competes directly with this brand in the energy drink category domestically.

    Venom

    The company competes directly with this brand in the energy drink category domestically.

    5-Hour Energy Shots

    The company competes directly with this brand in the energy drink category domestically.

    MiO Energy

    The company competes directly with this brand in the energy drink category domestically.

    V8 + Energy

    The company competes directly with this brand in the energy drink category domestically.

    Uptime

    The company competes directly with this brand in the energy drink category domestically.

    hi*ball

    The company competes directly with this brand in the energy drink category domestically.

    C4

    The company competes directly with this brand in the energy drink category domestically and in the performance energy category.

    Alani Nu

    The company competes directly with this brand in the energy drink category domestically and in the performance energy category.

    3D Energy

    The company competes directly with this brand in the energy drink category domestically and in the performance energy category.

    ZOA Energy

    The company competes directly with this brand in the energy drink category domestically and in the performance energy category.

    GHOST Energy

    The company competes directly with this brand in the energy drink category domestically and in the performance energy category.

    Prime Energy

    The company competes directly with this brand in the energy drink category domestically and internationally.

    Starbucks BAYA Energy

    The company competes directly with this brand in the energy drink category domestically.

    Guayaki Yerba Mate

    The company competes directly with this brand in the energy drink category domestically.

    Adrenaline Shoc

    The company competes directly with this brand in the energy drink category domestically and in the performance energy category.

    Accelerator Active Energy

    The company competes directly with this brand in the energy drink category domestically and in the performance energy category.

    Arizona Rx Energy

    The company competes directly with this brand in the energy drink category domestically.

    Bucked Up Energy

    The company competes directly with this brand in the energy drink category domestically and in the performance energy category.

    XYIENCE Energy

    The company competes directly with this brand in the energy drink category domestically.

    BODYARMOR

    This brand markets products with supplement ingredients, competing in the functional beverage space.

    Vitamin Water

    This brand markets products with supplement ingredients, competing in the functional beverage space.

    CORE

    This brand markets products with supplement ingredients, competing in the functional beverage space.

    Arizona

    This brand markets products with supplement ingredients, competing in the functional beverage space.

    Ocean Spray

    This brand markets products with supplement ingredients, competing in the functional beverage space.

    Powerade

    This brand markets products with supplement ingredients, competing in the functional beverage space.

    Gatorade Bolt 24

    This brand markets products with supplement ingredients, competing in the functional beverage space.

    This brand markets products with supplement ingredients, competing in the functional beverage space.

    This brand markets products with supplement ingredients, competing in the functional beverage space.

    Game Fuel

    This brand markets products with supplement ingredients, competing in the functional beverage space.

    CustomerRelationshipSegmentDetails

    Coca-Cola Europacific Partners

    Primary distributor of non-alcohol products abroad

    All

    $1,049 million (14% of $7,492.709 million)

    Coca-Cola Consolidated, Inc.

    Key distributor of non-alcohol products in the U.S.

    All

    $749 million (10% of $7,492.709 million)

    Reyes Holdings, LLC

    Distributor of non-alcohol products

    All

    $674 million (9% of $7,492.709 million)

    The Coca-Cola Company (TCCC)

    Subsidiaries accounted for a portion of net sales

    All

    $225 million (3% of $7,492.709 million)

    NameStart DateEnd DateReason for Change
    Ernst & Young LLPDecember 31, 2023 PresentCurrent auditor.
    Deloitte & Touche LLP1991 December 31, 2022 The change was part of a review process by the Audit Committee and was not related to any disagreement.

    Notable M&A activity and strategic investments in the past 3 years.

    CompanyYearDetails

    Vital Pharmaceuticals, Inc. (Bang Energy)

    2023

    Monster Beverage Corporation acquired Bang Energy and its production facility for approximately $362 million in cash, closing the transaction on July 31, 2023. The deal included key assets such as inventory, trademarks, customer relationships, and property, with plans to integrate Bang into Monster’s distribution network and rationalize its product portfolio.

    CANarchy Craft Brewery Collective LLC

    2022

    Monster Beverage Corporation completed the acquisition of CANarchy on February 17, 2022, for $330.4 million in cash, marking its entry into the alcoholic beverage sector. The deal brought several craft beer and hard seltzer brands (excluding stand-alone restaurants) into its portfolio while allowing CANarchy to operate independently, thereby diversifying Monster’s product offerings.

    Recent press releases and 8-K filings for MNST.

    Monster Beverage Corp Announces Leadership Transition
    MNST
    CEO Change
    Management Change
    Executive Compensation
    • Rodney C. Sacks is transitioning from Co-CEO and Chairman to solely serving as Chairman with retirement as an employee effective December 31, 2026, after which he will continue as a non-employee director through at least the 2027 annual meeting ,.
    • Hilton H. Schlosberg is set to become the sole CEO effective June 13, 2025, following Sacks’ resignation as Co-CEO effective June 12, 2025 ,.
    • The transition letter outlines updated compensation and incentive arrangements, including a base salary of $900,000 starting July 1, 2025, target annual incentive awards, and long-term incentive grants with defined vesting conditions ,.
    Mar 10, 2025, 12:00 AM