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Monster Beverage Q1 profit climbs 10.1% YOY

Monster Beverage Corp. said its first-quarter normalized net income amounted to 31 cents per share, compared with the S&P Capital IQ consensus estimate of 32 cents per share.

EPS increased 17.4% year over year from 26 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $178.0 million, a gain of 10.1% from $161.7 million in the year-earlier period.

The normalized profit margin climbed to 24.0% from 23.8% in the year-earlier period.

Total revenue climbed 9.1% on an annual basis to $742.1 million from $680.2 million, and total operating expenses increased 8.5% from the prior-year period to $458.0 million from $422.1 million.

Reported net income rose 11.8% on an annual basis to $180.4 million, or 31 cents per share, from $161.4 million, or 26 cents per share.