Monster Beverage reports 20% sales increase on international growth

Adjusted earnings of 60 cents a share top FactSet estimate

Monster Beverage reported higher second-quarter revenue and profit, with net sales rising 20% to $2.54 billion, above the $2.43 billion Wall Street expected. Sales to customers outside the U.S. grew 35% during the quarter, accounting for the bulk of the increase in overall revenue.

The company posted net income of $584.5 million, or 59 cents a share, up from $488.8 million, or 50 cents a share, in the year-ago period. On an adjusted basis, earnings were 60 cents a share, topping the 58 cents a share analysts polled by FactSet had expected.

Chief Executive Hilton Schlosberg said: “The energy drink category continues to attract new consumers, expand usage occasions and increase household penetration.”