Monster Beverage Takes an Energizing Swig of Stock Gains After Beating Q2 Estimates
In spite of the worst that the coronavirus could throw at the food and beverage sector, Monster Beverage (NASDAQ: MNST) kept up a yearlong winning streak by surpassing analyst consensus estimates for the fourth consecutive quarter. Its press release Tuesday describing Q2 2020 results showed positive surprises of 22.92% in adjusted earnings per share (with $0.59 in actual EPS versus $0.48 estimates), and 8.66% in revenue ($1.09 billion actual against $997.9 million projected), according to Zacks.
Monster's net sales registered only a small year-over-year decrease, declining from $1.1 billion in Q2 2019 to $1.09 billion in Q2 2020. The financial report says the company's biggest source of sales, purchases made at gas stations and convenience stores, dipped at the quarter's start but rebounded steadily during the period. Monster added that its "e-commerce, club store, mass merchandiser, and grocery and related business continued to increase in the quarter."
Image source: Getty Images.
Source Fool.com
