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Monster Beverage Q3 profit climbs 14.7% YOY

Monster Beverage Corp. said its third-quarter normalized net income amounted to 36 cents per share, compared with the S&P Capital IQ consensus estimate of 40 cents per share.

EPS climbed 15.7% year over year from 32 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $210.8 million, an increase of 14.7% from $183.8 million in the year-earlier period.

The normalized profit margin dropped to 23.2% from 23.3% in the year-earlier period.

Total revenue rose 15.4% on an annual basis to $909.5 million from $788.0 million, and total operating expenses grew 16.9% from the prior-year period to $576.2 million from $492.9 million.

Reported net income rose 14.2% from the prior-year period to $219.8 million, or 38 cents per share, from $192.5 million, or 33 cents per share.