Posted On: 05/08/2015 1:46:03 PM
Post# of 75063
Shares of Monster Beverage Corporation (NASDAQ: MNST ) fell as much as 11% early Friday, then partially recovered to trade down around 9% as of 1:10 p.m. after the company reported weaker-than-expected first-quarter results.
Quarterly net sales rose 16.9% year over year to $626.8 million, which translated to a 13.9% increase in adjusted net income to $108.5 million, and a 13.8% jump on a per-share basis to $0.62. Analysts, on average, were expecting lower net sales of $601.2 million, but higher earnings of $0.68 per share.
Why it's happening: To blame for its bottom-line miss, Monster says, is primarily $206 million in obligations as a result of distributor terminations stemming from its recent strategic partnership with Coca-Cola.
Quarterly net sales rose 16.9% year over year to $626.8 million, which translated to a 13.9% increase in adjusted net income to $108.5 million, and a 13.8% jump on a per-share basis to $0.62. Analysts, on average, were expecting lower net sales of $601.2 million, but higher earnings of $0.68 per share.
Why it's happening: To blame for its bottom-line miss, Monster says, is primarily $206 million in obligations as a result of distributor terminations stemming from its recent strategic partnership with Coca-Cola.
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