Monster Beverage (MNST) Q2 2026 earnings summary

Executive summary

• Q2 net sales rose 20.2% year over year to $2.54B; international sales grew 34.6% and represented 46% of total sales.

• Net income increased 19.6% to $584.5M; adjusted net income rose 15.7% to $590.5M.

• H1 net sales grew 23.3% to $4.89B, while net income increased 23.9% to $1.15B.

• Results reflected higher consumer demand, product innovation and marketing, while increased operating expenses tempered operating margin.

Financial highlights

• Q2 gross profit was $1.42B, up 20.7%; operating income rose 17.2% to $740.4M, and adjusted operating income increased 13.3% to $748.1M.

• Q2 diluted EPS was $0.59 versus $0.50; adjusted diluted EPS increased 15.2% to $0.60.

• H1 gross profit increased 22.0% to $2.71B, and operating income rose 22.4% to $1.47B.

• H1 operating cash flow was $1.11B versus $973.6M; investing and financing cash use were $929.3M and $58.7M, respectively.

• July 2026 sales excluding alcohol brands rose 14.3% year over year.

Outlook and guidance

• Aluminum costs are expected to continue modest sequential increases through at least the end of 2026; selective U.S. price increases are planned for Q4 2026, with EMEA actions later.

• New product launches are planned for fall 2026 and 2027, alongside continued domestic development and international expansion.

• Cash resources and credit availability are expected to cover working capital and other needs for at least the next 12 months.

• Capital expenditures, excluding share repurchases, are estimated at less than $250M through June 30, 2027; SAP S/4HANA go-live is planned for January 2028.