Monster Beverage (MNST) Q3 2026 earnings summary

Executive summary

• Q3 net sales rose 16.7% YoY to $2.56B; net income increased 8.4% to $568.4M and diluted EPS rose 7.8% to $0.29.

• Nine-month net sales grew 20.9% to $7.45B, net income rose 18.3% to $1.72B, and diluted EPS reached $0.87.

• Q3 international sales rose 28.1% to $1.20B, or 47% of total sales; growth reflected core brands, innovation, international share gains, and category strength.

Financial highlights

• Q3 net sales were $2.56B versus $2.20B; FX-neutral growth was 16.3%, with exchange rates adding $8.1M.

• Operating income rose 6.4% to $718.7M; adjusted operating income increased 7.1% to $748.1M.

• Net income was $568.4M; adjusted net income rose 9.0% to $591.1M. Adjusted diluted EPS increased 8.5% to $0.30.

• Nine-month operating income increased to $2.19B from $1.88B; sales were $7.45B versus $6.16B, with FX-neutral growth of 18.6%.

• Operating expenses were $682.0M versus $549.1M; adjusted operating expenses were $644.4M versus $517.8M.

Outlook and guidance

• U.S. pricing actions took effect Nov. 1; management expects minimal volume impact and will continue revenue growth management.

• Aluminum costs are expected to rise modestly sequentially through at least Q1 2027; current tariffs are expected to have no material operating-results impact.

• October sales were estimated up 11.6% excluding Alcohol Brands and 11.1% including them; FX-adjusted estimates were 11.2% and 10.7%, respectively.

• 2027 innovation includes Monster Protein in March and phased launches across core, zero-sugar, coffee, and limited-time offerings; management prioritizes quality over quantity.

• SAP S/4HANA is planned to go live Jan. 1, 2028.