Monster Beverage (MNST) investor relations material

Executive summary

• Net sales for Q1 2026 rose 26.9% year-over-year to $2.35 billion, surpassing $2 billion for the first time in a fiscal first quarter.

• Operating income increased 28.1% to $730.0 million, and net income grew 28.6% to $569.5 million compared to Q1 2025.

• Net income per diluted share climbed 27.6% to $0.58.

• International sales represented 45% of total net sales, up from 40% last year, with a 44.9% increase year-over-year.

Financial highlights

• Gross profit margin declined to 55.0% from 56.5% due to geographical mix, higher aluminum and freight costs, partially offset by pricing actions.

• Operating expenses rose 17.8% to $563.4 million, but as a percentage of net sales, they fell to 23.9% from 25.8%.

• Adjusted net income (non-GAAP) increased 24.6% to $572.4 million.

• Adjusted operating income (non-GAAP) rose 24.1% to $733.5 million.

• Effective tax rate increased to 24.1% from 23.4%.

Outlook and guidance

• Management remains focused on core product growth and ongoing product innovation as central to long-term strategy.

• Cautions issued regarding risks from cost inflation, supply chain, regulatory changes, and global economic uncertainty.