Monster Beverage Sinks Nearly 10% After Hours on Q2 Sales and Earnings Misses

MNST fell 9% to $46 shortly before 4:45 p.m. ET after reporting $1.9 billion of Q2 net sales, rising from $1.85 billion in the same period last year, but missing the $2.01 billion consensus that analysts had reportedly expected.

Diluted earnings per share came in at $0.41, up from the $0.39 the company recorded in Q2 2023 but short of analysts' $0.46 consensus forecast, according to published reports.

"The energy-drink category in the United States and in certain other countries experienced lower growth rates in the second quarter," company Vice Chair and co-CEO Hilton Schlosberg said in announcing the results.

"Retailers have reported a reduction in convenience store foot traffic and we have seen a shift at retail towards more mass and dollar channels. Other beverage and consumer packaged product companies have also seen a tighter consumer spending environment and weaker demand in the quarter.," he said.

Schlosberg added that the company's numbers were "again impacted by unfavorable foreign currency exchange rates in certain markets.”